Banking

BCB Bancorp in Bayonne, New Jersey, swung to an $8.3 million loss in the first quarter due to a troubled cannabis loan. The crowded weed marketplace in the New York area is leading to tighter margins.

Treasury Secretary Scott Bessent called for a course correction for the International Monetary Fund and World Bank, while saying that they serve "critical roles," and that the Trump administration is willing to work with them.

The Evansville, Indianapolis-based company now expects to complete its $1.4 billion acquisition of Bremer Financial in Minnesota on May 1, instead of mid-year.

The Sunshine State deal comes following a banner year for credit union-bank combinations, despite pushback from community banking advocates.

Synchrony Financial stands to benefit from the undoing of a Biden-era cap on credit card late fees. Company executives said that Tuesday that they won't be rolling back changes they implemented to compensate for revenue the company would have lost.

The growth of digital payments, coupled with the U.S.'s new open banking framework, may finally move the needle for an alternative form of credit decisioning.

MainStreet Bancshares in Fairfax has closed its banking-as-a-service subsidiary after the unit fell far short of meeting its revenue and deposit targets.

The National Credit Union Administration insists it can still function with one board member, but legal experts and industry groups say any substantive regulatory actions could face serious challenges.