Banking

Consistent wins aren't typically about continuously introducing novel strategies, but about better and more consistent execution with proven ones.

The regional bank's stock price is down 38% this year, and it recently got downgraded by S&P Global. While there's light at the end of the tunnel — as Key looks to rebound from the negative impact of soaring interest rates — analysts question whether the improvement will take too long to materialize.

The Consumer Financial Protection Bureau said it would determine whether its victims' relief fund could be used to make payments to affected consumers because companies that agreed to settle allegations of illegal telemarketing practices are insolvent.

The Alabama-based credit union has agreed to purchase the $215 million-asset OneSouth Bank in Macon; it also purchased Georgia banks in 2014 and 2015.

Followers of Islam cannot pay interest on loans. Androscoggin Bank figured out a way to structure a new product that addresses that challenge and paves a path to more homeownership.

Some banks are gravitating toward API connectivity to build an "ecosystem of applications." Others like a one-stop-shop or ready access to executives.

The institutions in the second grouping of American Banker's top Credit Unions to Work For demonstrated the importance of a fun work environment, transparent leadership and competitive benefits.

American Banker's first grouping of the top institutions for 2023 features leaders that are enhancing their offices and surrounding communities through unique volunteer programs, comprehensive benefit packages and more.

Burke & Herbert Financial Corp. and Summit Financial Group announced a transaction that they described as a merger of equals valued at roughly $371.5 million in stock.

New Peoples Bank announced J.W. Kiser will be its next president and CEO; D.A. Davidson hired Dan Fiandaca to lead its brokered CD underwriting group; Citizens Bank launches Roger, a digital bank for military members; and more in the weekly banking news roundup.

The National Credit Union Administration approved Dade County Federal Credit Union's application to add almost 2 million potential members — giving it a total field of membership of 4.6 million. It's the largest-ever community charter expansion in terms of total resulting potential members.

The small community bank was bought up by crypto-focused investors and quickly repositioned to cater to tech innovators. Is this problematic or perfectly legitimate?

An effort to ensure banking services are available to legal businesses is being undermined by groups trying to rewrite the history of regulatory overreach related to supposed reputational risk.

The top three countries have 861 combined fintech financings through June 2023.

The company's U.S. banking unit, which focuses on wealth management, reported a $38 million quarterly loss. Executives said they're cutting staff in an effort to right the ship, but analysts questioned whether the expense cuts are aggressive enough.

The decision by the 2nd U.S. Circuit Court of Appeals in Manhattan came in a securities fraud lawsuit brought by a trustee for note purchasers in a 2014 syndicated loan deal led by JPMorgan Chase.

Front-running schemes by the bank's foreign exchange desk defrauded clients of millions of dollars. In 2017, the Federal Reserve cited the lackluster oversight for failing to stop it.

UBS Group AG is expected to announce soon that it's fully integrating Credit Suisse's domestic bank, ending months of speculation about the future of the business.

A new state regulation brings consumer-style rules to the small business realm, extending California regulators' ability to crack down on nonbank lenders that engage in questionable practices. Observers believe that it could be a model for other states.

East West Bancorp chief Dominic Ng long faced skepticism from analysts who had questioned his conservative approach to capital allocations — a strategy that has helped his Pasadena-based bank weather decades of ups and downs in the banking industry and survive amid the collapse of other California banks this spring.