Banking

Highly acquisitive banks that pack on assets without sacrificing employee morale pepper American Banker's annual Best Banks to Work For rankings.

The CEO of Seattle-based Washington Federal says Luther Burbank Corp. was an attractive acquisition target because it offers an entree into California and has a commercial lending operation that could follow WaFd's recipe for growth over the past decade.

After a Texas bank settled allegations by the Department of Justice, experts were split about the extent of the exposure for banks and fintechs that took part in the pandemic-era program.

The National Credit Union Administration in January proposed a rule that would require credit unions to have succession plans in place. Despite the necessity for arrangements, many CEOs want autonomy in the process and would rather avoid a formal rule.

Inconsistent rules for calculating bank capital threaten to cut off small banks from a key source of liquidity.

The Seattle bank's all-stock deal for Luther Burbank Corp. is expected to close as soon as the second quarter of 2023.

The quickly shifting deposit picture — an effect of the Federal Reserve's rapid interest rate increases — is prompting many banks to raise rates to prevent depositors from leaving. Several institutions saw their loan-to-deposit ratios jump above 100% during the third quarter.

Biometric payment cards, contactless smart-rings and a virtual marketplace created by Meta are among the latest developments in payments technology.

The ruling means that a lower court's pro-consumer decision cannot be used as a precedent in other litigation. Consumer advocates had hoped the case would make it more difficult for debt buyers in North Carolina to file a large volume of lawsuits, which often lead to default judgments against borrowers.

Spencer Savings in New Jersey is taking investor Larry Seidman to court, alleging he's conspiring with other customers to convert the bank to stock ownership. Seidman says it's a farce: "I'm in a conspiracy with people I don't know."

A new debit card for military veterans, Google expands a billing test and more in banking news this week.

Some of the biggest lenders to U.S. offices are weighing sales of loans on the properties as regulators heighten scrutiny on commercial real estate debt portfolios. 

Bank regulators are considering a measure that would rewrite the rules implementing the Community Reinvestment Act. They should consider taking their existing rules seriously.

A federal judge in Texas struck down the Biden administration's plan, calling it "one of the largest exercises of legislative power without congressional authority in the history of the United States."

A ballot initiative that places additional restrictions on debt collectors and decreases the interest rates that can be charged on medical debt passed Tuesday by an overwhelming margin. Consumer advocates say it will ease the burden on households dealing with hardship, but industry groups contend that it will make credit more expensive.

Savanna-Thomson State Bank in Illinois has agreed to buy Fidelity Bank in Iowa and says it expects to complete the acquisition early next year.