Banking

The Navy Federal scandal is just the tip of the iceberg. After looking away for 20 years, Congress needs to focus on providing real oversight of the credit union industry.

Peapack-Gladstone's wealth unit is pursuing an ambitious de novo expansion in New York and perhaps elsewhere because M&A has become expensive as private equity money has inflated seller expectations.

The new team at Dime Community Bancshares intends to attract funding from an array of niche business segments, including medical billing, so-called death care services and hedge funds.

The custody bank will offer clients technology from Microsoft that lets them analyze their data in near-real time, hosted on the latest versions of Microsoft's public and private clouds.

Prosecutors claim Dan Rotta, 77, hid more than $20 million from the IRS, using "pseudonyms, complicated corporate structures, and nominees" to conceal offshore assets and income.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

The Long Island-based lender has released a number of new details about its reconfiguration following a $1 billion capital injection led by two former Trump administration officials.

Through its integration with the auto manufacturer, Origence and its indirect lending subsidiary FI Connect aim to match buyers in need of auto loans to eligible credit unions.

The stock prices of five of these banks fell by more than 7% on the day they announced their fourth-quarter results, including two with double-digit decreases.