Banking

Resolutions calling for more details about how the two banks protect Indigenous people's rights failed to win majority approval on Tuesday. JPMorgan Chase shareholders are scheduled to vote on a similar proposal next month.

Consolidation has slowed since the pandemic, but UMB's agreement to buy Heartland Financial — the largest deal in three years — is one of several merger announcements in the past two weeks. Talks among other potential buyers and sellers are said to be picking up.

In this month's roundup of top banking news: Navy Federal Credit Union officially launches its overseas banking program, Republic First Bank in Philadelphia falls to capital troubles and investor outrage, deeper looks at talks between Discover and Capital One and more.

Noel Quinn is leaving after four years in the role. It's the third time in six years that HSBC has had to look for a new chief executive.

The Los Angeles-based company, which focuses on Korean Americans, said the acquisition of Territorial Bancorp will allow it to expand its customer base.

The first bank failure of 2024 will result in the Lancaster, Pennsylvania-based Fulton nearly doubling deposits in Philadelphia, a market it has viewed as strategically important for several years.

The combination of the two regional banks is set to create a $64.5 billion-asset company with a 13-state footprint across parts of the Midwest, South and West.

Michigan State University Federal Credit Union is working with the relationship-based lending app Zirtue to offer members a tool for outlining lending agreements and repayment plans.

Isabel Casillas Guzman, administrator of the Small Business Administration, wants the agency to get involved in direct lending, a practice that was discontinued during the Clinton administration. Congress has not embraced the idea, to put it mildly.

Extensive partnerships with third-party service providers, fintechs and other partners are the banking equivalent of a supply chain, and bankers need to be clear-eyed about assessing the risk associated with them.