Banking

Organizers of Sterling Bank have filed an application with the FDIC and have set a $20 million capital target.

The difference in pay between men and women at Citi is not as striking as some other differences. A reverse mentor changed how Goldman’s Edith Cooper thinks about differences in the workplace. Banks are doing a lot more than relaxing the dress code to retain tech talent. And Ellen Pompeo offers some personal notes on tackling the pay gap.

The Office of the Comptroller of the Currency’s semiannual report on industry risk said tougher competition between banks, leading to looser underwriting, could arise from the economic expansion.

The company will pay $62 million in cash for a bank with four branches and $337 million in assets.

The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.

The nation's largest private student lender plans to use $30 million of its anticipated tax-cut windfall to speed up its diversification plan and strengthen its digital capabilities.

The agency had accused the lenders of deceiving consumers and failing to disclose the true cost of the loans, which carried interest rates as high as 950% a year.

The Los Angeles company said earnings fell 2% in the quarter as strong loan growth was offset by costs tied to its acquisition of CU Bancorp as well as a loss on the sale of a securities portfolio.

Breaches help crooks diversify, but stolen cards thrive in the black market, writes Angel Grant, director at RSA's fraud and risk intelligence unit.

The credit union service organization gained 11 new member-owners in 2017, bringing total ownership to 50 CUs.

The Arkansas company's earnings fell 52% from a year earlier, reflecting a higher provision, a revaluation of its deferred tax asset and higher costs following a series of bank acquisitions.

Highlights at the North Carolina bank included deposit service charges, CRE lending and wider margins, which all offset one-time costs related to tax reform.

Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.

The Buffalo-based company donated a record $50 million to its charitable foundation to honor its former CEO Robert Wilmers, who passed away in late 2017.

The bank’s innovation unit hopes some of the students it takes in from 12 universities including Columbia, NYU and Texas will end up working at Citi someday or creating startups it can partner with.

U2 lead singer Bono is among the latest to support the ambitious mobile-only fintech startup, which applied for a national bank charter in July.

The information you need to start your day, from PaymentsSource and around the Web. Today: Visa won't support cryptocurrency payments; Blockstream extends virtual currency tech; EMV advances in Ghana; Blockchain becomes art.

Merger- and tax-related charges took a bite out of fourth-quarter profits at the Cleveland company, but its CEO emphasized that a recent deal and tax reform are promising for growth.

Bank says most of the benefits from tax reform will be used for dividends and buybacks; Michael Loughlin will stay on until his replacement is named later this year.

A large writedown on its portfolio of taxi medallion loans marred an otherwise strong fourth quarter for Signature Bank in New York.