Banking

U.S. financial institutions should look to the U.K. for tips on fighting real-time payments fraud.

The top five banks and thrifts have more than $12 trillion in combined total assets as of the end of Q1 2023.

Dream First Bank of Syracuse, Kan. is assuming all deposits and most of the assets of Heartland Tri-State Bank of Elkhart, Kan. following a purchase and assumption agreement with the Federal Deposit Insurance Corp., representing a $54.2 million hit to the Deposit Insurance Fund.

 The advance has helped the group pare its declines this year to roughly 10%, easing an earlier drop of as much as 33% following a string of regional bank collapses, including Silicon Valley Bank in March. 

The top five banks and thrifts have more than $7 trillion in combined total deposits as of the end of Q1 2023.

Consumer advocates are protesting specific risk-weighting changes affecting borrowers with lower down payments. Also, a broader increase in requirements may discourage depository holdings of servicing.

Dime Community Bancshares tapped insider Stuart Lubow as its next chief executive; BayFirst Financial announced the appointment of Scott McKim as chief financial officer and more in the weekly banking news roundup.

The U.S. government wants to intervene in JPMorgan Chase's fraud lawsuit against Frank founder Charlie Javice, asking a federal judge to halt pretrial information exchanges until she has been tried on criminal charges. 

Oregon Community Credit Union in Eugene is seeing employee productivity and satisfaction increase, but is still wary of declaring the program a success.

Large financial institutions have "meaningful but manageable" loan volumes to industries that are most likely to see declines in output and profit after climate-friendly regulations take hold, new research shows.

Big Poppy Bancorp has applied to the Federal Reserve to acquire up to 24.99% of Summit State Bank. Both institutions are headquartered in Santa Rosa. Combining them would create the city's biggest bank.

Business cards provide a tactile experience that digital forms of communication do not replicate. They offer a tangible reminder of a discussion, which can be far more memorable.

The bank hasn't explained why person-to-person payments, bill processing and account-transfer services went down for parts of two days this week. But observers suspect glitches in its legacy systems could occur at other financial institutions and increasingly affect real-time payment networks.

The Hicksville, New York, company says its deposit base is stable and poised for growth four months after its acquisition of the failed Signature Bank, some of whose depositors fled to larger banks. Private bankers — including new hires from another failed bank, First Republic — are trying to win back lost deposits.

Like many of its peers, the bank is grappling with higher deposit costs and net interest margin pressure.

The challenger bank and fintech lender will use its first acquisition to expand its point-of-sale financing strategy into another vertical.

The European Central Bank will stop paying banks for the money they are required to keep at the institution as a minimum reserve, a surprise move that could cut billions from lenders' interest income.