Banking

Citigroup said it agreed to buy Deutsche Bank's Mexican bank license amid plans to set up a local unit as the New York-based lender exits retail operations in the country.

The Canadian-owned bank vowed to appeal the large verdict, which illustrated the risks that banks take on when they shoulder the liabilities of companies they acquire.

David DePillo stepped down not long after the company said it would tap the brakes on loan growth and focus on lagging deposit gathering.

A proposed rule would end a 40-year moratorium on participation in the Small Business Administration's flagship 7(a) program by nondepository lenders. However, staffing constraints would limit the number of new licenses to just three at the start.

Thieves have increasingly used solid explosive to blow open cash machines rather than gas.

Arbor Bank in Nebraska will customize CD rates and maturities for customers and even show them other options from competitors.

Investment banking fees at Citigroup plummeted 64% in the third quarter, the company said last month.

USAlliance Federal Credit Union in Rye, New York, has agreed to merge with Marriott Employees' Federal Credit Union in Bethesda, Maryland, to create a nearly $3 billion-asset organization.

U.S. credit card balances surged to a record in the third quarter as banks bet that consumers with less-than-stellar credit will be able to handle more debt. 

Bank loans to private equity, mortgage companies as well as other lightly regulated — and increasingly volatile — industries have soared in recent years. The central bank says it needs to know how leveraged those borrowers are and how much risk they pose to the banking system.

Average deposits at the Northern California bank are expected to decline again in the fourth quarter as startups' spending outpaces the venture capital investments they raise. CEO Greg Becker acknowledged the near-term headwinds but said the bank's fundamentals remain solid.

The Dallas company says it could repurchase as much as 8% of its common stock and still have the wherewithal to pursue an acquisition — all in an effort to strengthen its value in the eyes of investors.

Under Donna Bland's leadership, Golden 1 Credit Union has grown to more than 1 million members and is now the sixth-largest credit union in the U.S. by assets.

Renée Sattiewhite has played a key role in the African American Credit Union Coalition for more than 20 years. "For me, if credit unions do not embrace DEI, they will die," she said.

The Pacific Northwest bank has agreed to divest 10 branches as a condition of the Department of Justice's green light of its merger with Umpqua Holdings. The deal still needs the blessing of the Federal Deposit Insurance Corp.

The acquisition, which was originally expected to close at the end of last year, ultimately took more than 18 months to receive regulatory approval. It is now expected to close on Dec. 1.

In its inaugural Most Powerful Women in Credit Unions listing, American Banker is proud to share the stories of 25 of the women leading the credit union industry through times of rapid and unprecedented change.