Banking

In all, the Denver-based bank plans to sell nine branches to two buyers as part of a decision to exit the state and invest more in technology and other markets where "it has the greatest growth potential."

Like the three regional banks that failed last spring, New York Community grew quickly over a short period of time. One analyst said there's now "permanent damage" to the "investor psyche around growth banks."

New regulations involving cryptocurrency and the results of key elections will impact the industry's success this year.

Senior loan officers recently told the Federal Reserve that loan demand weakened and underwriting tightened last quarter, but both at a slower pace than three months earlier. They anticipate demand for credit will improve, especially in the back half of the year — provided rates begin to fall.

Shared services organizations PSCU and Co-op Solutions are offering post-purchase buy now/pay later loans, with the goal of reaching consumers who are concerned about managing their credit.

A new generative artificial intelligence tool from Ncontracts can assist in summarizing lengthy agreements with fintech partners and identifying important clauses.

The megabank recently received three notices of matters requiring immediate attention, and it also failed regulatory exams, Reuters reported. Since 2020, Citigroup's regulators have been pressuring the company to clean up its risk management systems.

American Honda Finance Corp., the financing division of carmaker Honda, says that the Consumer Financial Protection Bureau sent it a "civil investigative demand" connected to the "furnishing of credit reporting information on consumer accounts."

In the largest deal based on the bank's assets announced since January 1, 2023, the credit union has nearly $12 billion in total assets and the target bank more than $1.5 billion in total assets.

The nation's largest credit union allegedly engaged in racial discrimination resulting in calls for further investigations and regulations. Had Navy Federal been subject to the Community Reinvestment Act it may have avoided this problem.