Banking

A former attorney with the Office of the Comptroller of the Currency asks why regulators have failed to finalize the rules to implement Section 956 of Dodd-Frank, enacted more than a decade ago.

After experiencing deposit growth above 11% in 2021, credit unions saw that figure drop to 3% last year. But some CEOs say funds are flowing in again in the wake of recent bank failures.

Apple began rolling out its first buy now/pay later service after a lengthy delay, entering a field currently dominated by Affirm, Klarna and others.

Lenders had started tightening as early as the fourth quarter in anticipation of a possible recession. Now, the banking crisis is driving community and regional banks in particular to hit the brakes harder, stoking renewed recessions fears.

Diversity, equity and inclusion has only grown in importance to the financial services industry over the last few years. For that reason, DEI philosophies are becoming a bigger concern as buyers and sellers try to determine how their corporate cultures might mesh.

The unusual financing is meant to help First Citizens meet liquidity needs that arise in the next two years as it integrates SVB into its operations, the Raleigh, North Carolina, lender said in a regulatory filing.

Unrealized losses on the company's balance sheet ballooned to more than $29 billion last year. At the same time, higher interest rates are encouraging customers to move their cash out of certain accounts that underpin Schwab's business.

With the acquisitions of CIT Group and a large portion of the failed Silicon Valley Bank, the North Carolina company has doubled in size for the second time in a little more than a year and joined the class of super regionals.

The Consumer Financial Protection Bureau plans to issue a small business data collection rule this week, more than a decade after it was mandated by the Dodd-Frank Act to collect data on all small business credit applicants.

A researcher tested the prediction that banks will step in when payday lenders face restrictions. They didn't want his business.

The banks invested in bonds at a time when rates were low, and their value has since dropped substantially. While there appears to be very little risk that the banks will ever have to realize the losses, an American Banker data analysis raises questions about whether regulators should toughen their monitoring of interest rate risk.

First Citizens BancShares in North Carolina has entered into a purchase and assumption agreement for all deposits and loans of the failed bank, according to the Federal Deposit Insurance Corp. About $90 billion of securities and other assets will remain in receivership.

Companies like U.S. Bancorp have found ways to apply the information they use to serve thin-file applicants to small-business owners and other borrowers.

Adapted Accessibility is a browser plug-in that will help employees, and eventually customers, more effectively browse the web by setting on-screen preferences.

Investors have bought a one-branch bank in Elmore City, Oklahoma (the town that inspired "Footloose"), renamed it Old Glory Bank and plan an all-digital brand that emphasizes patriotism. Experts question whether Old Glory is offering a solution to a nonexistent problem.

The Fed slightly raised interest rates, Amazon brings 'palm payments' to Panera Bread, the SEC cracks down on Lindsay Lohan, and more.

Fred Eisel will succeed David Brehmer, who plans to retire from the $6 billion-asset Vizo Financial on Jan. 5, 2024.

Net interest margin, a key earnings metric, had been rising across the industry in recent quarters. Now it could suffer at the megabanks that have gained customers amid the turmoil of the last two weeks.

Treasury Secretary Janet Yellen repeated her comment from a day earlier that the government's recent actions were "taken to ensure that Americans' deposits are safe." She sought to clarify it with a new line: "Certainly, we would be prepared to take additional actions if warranted."

The Consumer Financial Protection Bureau says the giant debt collector is a repeat offender that sued borrowers even when it lacked documentation about a debt. The company says it denies wrongdoing but agreed to the settlement.