Banking

Toronto-Dominion Bank's expensive foray into the U.S. was supposed to supercharge its growth. Instead, it's become a drag on profitability and badly dented the lender's reputation.

A representative of America's Credit Unions takes issue with a recent article suggesting that credit union commercial lending is excessively risky.

The North Carolina-based bank doubled in size in 2022 and again last year, when it acquired the failed Silicon Valley Bank. It has used consistency to outperform peers.

Shan Hanes, the former leader of Heartland Tri-State Bank, previously pleaded guilty to embezzling tens of millions of dollars in a cryptocurrency scheme that caused the Kansas bank's failure.

The Consumer Financial Protection Bureau has moved to ban medical debt from appearing on credit reports, but its analysis relies on a sliver of consumer data from more than a decade ago.

The military-focused company, which operates an insurer and a $111.7 billion-asset bank, has tangled with regulators during Wayne Peacock's tenure. He will retire in the first half of 2025.

Royal Bank of Canada's onetime chief financial officer was allegedly in a relationship with an executive in the bank's corporate treasury group for more than a decade. A court filing offers a remarkably detailed look at how the bank alleges it played out.

U.S. Eagle Federal Credit Union said it plans to acquire Southwest Capital Bank in a transaction slated to close next year. It would help the buyer expand its cannabis banking operation.

The planned Bay State deal comes two months after the Minneapolis-based Thrivent said it plans to merge a credit union it controls into a new industrial bank.

The once-worsening trend of consumers struggling to pay their credit card bills keeps stabilizing, new data from card issuers showed this week. The improved picture comes amid other signs that consumers aren't slowing their spending.

Regions Bank hires next corporate banking group leader from within; Detroit CU names its first-ever woman CEO; United Community raises its quarterly dividend; and more in this week's banking news roundup.

An amicus brief filed in a lawsuit challenging newly finalized implementing regulations for the Community Reinvestment Act argues that the court was chosen because plaintiffs believe the court is more likely to rule in their favor.

Acima offers lease-to-own plans on consumer items, but the Consumer Financial Protection Bureau and New York officials are calling those plans credit. The battles, playing out in separate courts, could trigger more expansive protections for customers.

Currently sitting at 2,500, the in-store branch count appears fated to continue dropping, as customers opt for digital channels and banks shy away from models that emphasize overdraft.

NCR Atleos and Diebold Nixdorf are leveraging the rise of branchless financial institutions and putting pressure on traditional banks to maintain access to paper.

Chatbots and other non-human service options got lower scores in J.D. Power's annual survey on credit card satisfaction, despite years of shifting from call-center agents to software to address client problems.

A Northwest credit union announced plans this week to buy a community bank, lifting the 2024 total of such deals to 13 and putting the year on track to set a record. The all-time annual high of 16 was set in 2022.

The Chicago-area bank closed the fifth-largest deal announced this year in a matter of months. It may bode well for M&A, as several big transactions have been announced in 2024.