Banking

As climate transition evolves in the coming years, banks will be in position to finance a wider range of decarbonization efforts than they have in the recent past, according to a new report from McKinsey.

The Worldwide Foundation for Credit Unions' Fuel Disbursement Program provided more than 160 farmers with roughly 17,000 gallons of pre-paid fuel. Other groups are supplying computers and printers to help the country's domestic credit unions remain operational.

Peach State Federal Credit Union in Lawrenceville, Georgia, is merging with Abbeville Community Federal Credit Union in Abbeville and Pickens Federal Credit Union in Pickens.

The Federal Reserve's campaign to tighten financial conditions has resulted in notably increased borrowing by U.S. banks at the central bank's discount window, normally a last-resort funding source.

Carol Hauck will leave the role in the first quarter of 2023. The Sacramento, California-based company said it hired D. Hilton Associates to conduct a nationwide search for its next leader.

Byline Bancorp in Chicago said it would buy Inland Bancorp in a cash-and-stock transaction that would create an $8.5 billion-asset bank.

The Biden administration's student loan forgiveness plan remains stalled, after the 5th U.S. Circuit Court of Appeals refused to lift an order blocking the sweeping program.

Bank of Montreal took a hit in the fiscal fourth quarter as a chill in capital markets weighed on investment banking revenue.

The baseline scenario used by many banks is for low-single-digit growth in GDP and an unemployment rate of around 4% next year. Some Wall Street analysts are wondering whether those assumptions, which banks use to calculate their loan-loss reserves, are too rosy.

InBankshares has hired a former PacWest senior executive — its third leader to come from a regional bank — in a move aimed at bringing in the skills necessary to run a much larger institution.

Banks are developing technology to identify potential mass shooters, according to a CEO backing the push to get credit card companies to track gun purchases more closely.

The transaction, which would have created the country's largest custody bank, was derailed after regulators demanded certain changes. The seller said that it has no plans to find a new buyer for its investor services business.

In this month's roundup of American Banker's favorite stories: the National Credit Union Administration sets its focus on liquidity risk for 2023, an exclusive fireside chat with Venus Williams on pay equity, the Consumer Financial Protection Bureau's funding comes into question and more.

Policymakers from across the ideological spectrum can work in tandem with banks to ensure every American has access to the financial tools they demand and deserve.

Royal Bank of Canada posted earnings highlighting its strength at home a day after striking the company's largest deal ever to bolster the business.

HSBC Holdings has announced plans to shutter more than 100 of its U.K. branches next year as the bank pushes more of its customers to use its online services.

The Inflation Reduction Act is starting to change the way bankers view their climate targets.

Central Pacific Bank, which has branches on the Big Island, is tracking the eruption of Mauna Loa in an effort to limit the risk of service interruptions. So far, the impacts appear to be limited.

Lenders that offer streamlined refinances in the future shouldn't be required to consider the borrower's income or employment status, according to the Mortgage Bankers Association. The trade group's comments were part of its response to a request for information on mortgage products that would support the financial stability of households.

Mal Cullen will take over as chief executive later this week, succeeding Steven Wolff, who is retiring. CIBC Mellon is a joint venture of Bank of New York Mellon and Canadian Imperial Bank of Commerce.