Banking

Through May, there were 32 U.S. bank mergers and acquisitions announced, fewer than half of the 66 deals announced over the same span of 2022. But analysts say higher costs and more regulation could spur consolidation.

Groups interested in organizing new credit unions are faced with the challenge of raising the required capital without having a charter in hand. The NCUA's new provisional charter could help.

Under guidelines proposed this month, credit unions would see changes in the quality standards for computer-generated appraisal systems, along with when and how financial institutions and consumers can request reconsiderations of value.

As a result of the deleted records, the regulator said that JPMorgan could not come up with requested documents in eight SEC investigations and four other regulatory probes.

The amount of distressed assets rose 10% in the first three months of the year, according to a new report from MSCI Real Assets.

Activist investor Abbott Cooper said he could continue his campaign against the Dallas-based company's management and board even if his candidate falls short in her bid to become a director.

Treasury's plan to overhaul the certification process for community development financial institutions will benefit the communities served by those institutions.

The bank's $4.6 billion commitment is smaller in size and shorter in duration than a previous plan. It also pledged $9 billion to sustainable finance initiatives over the next three years.

The Consumer Financial Protection Bureau issued two reports analyzing banking and consumer credit trends in the South, where many rural areas are considered "banking deserts."

At the Milwaukie, Oregon, institution, total loans increased 16% in the first quarter from a year earlier. But President and CEO Aaron Goff predicted this would level off significantly for his credit union and the industry overall.

Bank of America had a 55% increase in new clients in May, and the lender is planning to bulk up staffing to keep up with demand. 

The oil-rich emirate has explored a string of ambitious acquisitions in the international banking sector. None have panned out so far. 

Greater Nevada Credit Union in Carson City promoted Danny DeLaRosa to be its next president and CEO. He replaces Wally Murray, who retired in March.

The Fed's aggressive tightening has been a boon for money markets, which have drawn investors seeking a haven from volatility and tiring of the skimpy rates on bank accounts.

Data from recent bank failures suggests that prevailing assumptions about which deposits are the most volatile could be dangerously flawed.

Trucking companies saw a boom during COVID as homebound consumers spent big on goods that needed to be shipped. Now comes the bust, with some firms going bankrupt or struggling to pay back their loans.

The construction manager for the beleaguered New Jersey mall is suing JPMorgan Chase & Co. to recover more than $30 million of unpaid work and accrued interest.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That's wrong and short-sighted.

Banks and credit unions have come out against the Consumer Financial Protection Bureau's proposal to cut credit card late fees to $8, saying that figure is too low to cover costs. Finding a more suitable number might save the bureau a lot of trouble.