Banking

The addition of investment bank Capstone Partners and the wider geographic footprint that resulted from the acquisition of TCF Financial helped drive a 58% increase in net income during the third quarter.

Credit bureaus should know better than to include "impossible" data, such as someone defaulting on a loan before they were born, says Consumer Financial Protection Bureau Director Rohit Chopra.

The San Jose, California-based credit union completed its first out-of-state expansion with a virtual branch in Idaho's tech hub, to be followed soon by a brick-and-mortar location.

A big settlement with the Consumer Financial Protection Bureau and recent changes to overdraft policies by the Alabama company helped drive down its third-quarter profits by 34%.

U.S. Bank's new M&A closing date, and new rewards card, and more in banking news this week.

A federal judge dismissed a lawsuit by six Republican-led states challenging President Biden's student-loan forgiveness plan, finding the states failed to show they'd be directly harmed.

Paydowns at the Arkansas bank, which specializes in commercial real estate lending, fell by $1 billion from the prior quarter as refinancing activity slowed amid soaring interest rates. The result was stronger loan growth.

Deutsche Bank has given its clearest indication yet of how it plans to deliver on the commitment it made last year to reach net-zero financed emissions by 2050.

One year after from President Biden's executive order on Section 1033 of the Dodd-Frank Act, there has been no discernible progress.

Grupo Financiero Banorte is out of the running for the purchase of Citigroup's Banamex Mexican unit.

Linh Dang will step into the president and chief executive roles at floridacentral Credit Union on Nov. 1.

The Washington-based bank is looking to create a Pacific Northwest powerhouse by acquiring Umpqua. The companies are waiting for green lights from the Federal Deposit Insurance Corp. and the Federal Reserve.

The Florida company is making progress after recent moves into Atlanta and Dallas, CEO Rajinder Singh said. Growth in Atlanta is meeting expectations, and the company is weighing lending options in Dallas, where it currently focuses on deposit-gathering.

The Cleveland bank expects to lose about $25 million in fee income per quarter as a result of recent changes to its overdraft policies. CEO Chris Gorman said Key plans to compensate by expanding its customer base.

Bank of Princeton in New Jersey said it would pay $25 million in cash to acquire Noah Bank, whose former CEO was convicted on charges that included bank bribery and theft.

Deutsche Bank laid off dozens of origination and advisory staffers within its investment banking division globally as fears of a recession stymie dealmaking, according to a person with knowledge with the matter.

Pricing discipline at the Georgia bank contributed to a 3.5% quarter-over-quarter decline in deposits. To stem the tide, the company plans to lean into core deposits, brokered deposits and advances from the Federal Home Loan Bank System.

Any limitations on the distribution of pandemic relief and other payments are the result of instructions from the IRS, or the Federal Reserve's failure to operate a 24/7 payments system — and not shortcomings of the automated clearing house network, writes the head of Nacha.

Toronto-Dominion Bank's U.S. commercial lending chief sees loan demand growing even as the Federal Reserve aggressively hikes rates that are already at the highest since 2008. 

Overdue loans for U.S. credit unions hit 0.42% in June — the lowest level in the industry's history. But some warn of deteriorating credit quality as the economy sours.