Banking

Joe Petitti and Jack Knight formerly held leadership posts at First Republic.

The Alabama bank agreed to buy Peoples Bank for $23 million as part of a plan to target new Southeastern markets.

The Rosemont, Ill., bank rode loan growth, interest rate trends and noninterest-income gains to a double-digit increase in profits in the first quarter.

Lawmakers should not toss out an agency rule aimed at curbing auto dealer markups that adversely impact borrowers of color.

Profits soared at the Dallas bank as recent interest rate hikes and ongoing expense cuts outweighed weakness in the company’s loan book and in its fee income.

Fed vice chair wants to put stress test scenarios out for comment by banks; C&Is outstanding at record level in March.

The information you need to start your day, from PaymentsSource and around the Web. Today: QR codes expand for payments in the Philippines and checking in the UAE; Worldpay adds support for new integrated point of sale technology; Mastercard applies for a patent for a blockchain identity security system.

Chris Marshall, a former CFO at Capital Bank Financial, will help Tax Guard recruit bank and nonbank clients. The firm uses technology to let lenders know if potential clients owe money to the IRS.

Artificial intelligence may help rescue donations from paper's retreat, and give a fintech startup an icebreaker with small banks that haven't embraced automated payments.

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

Barclays has been gauging clients' interest in the British bank starting a cryptocurrency trading desk, potentially joining Goldman Sachs in pioneering a new business on Wall Street, according to people with knowledge of the matter.

Michelle Bowman, a former community banker and now the Kansas banking commissioner, was one of two Federal Reserve Board nominees announced by the White House on Monday. President Trump also nominated Columbia University Richard Clarida as vice chair.

Previously the head of commercial banking, Tory Nixon — also a former NFL cornerback — will now oversee the bank's digital strategy.

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's numbers may do little to change their minds.

New Resource Bank and P2Bi are splitting the risk and revenue associated with asset-based loans.

Gary Shook, who led Middleburg Financial before its sale to Access National, has become president of Blue Ridge's bank.

Many large internationally active U.S. banks are facing potentially hefty fines if they fail to comply with Europe's General Data Protection Regulation, which takes effect May 25 and gives consumers much more control over how their data is gathered, used and shared.

The addition of a personal finance app rounds out the loan and deposit-account offerings at the online lender Marcus.

A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

Expanding SBA funding and providing additional Community Reinvestment Act credit could help boost female entrepreneurs.