Banking

Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.

Loans at the Utah bank increased 6% in the third quarter. Executives said a darkening economic forecast could lower that figure.

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.

Nickels, which works with the credit union service organization Reseda Group, is using its $4 million seed funding to give financial institutions more visibility into consumers' debts.

The bank is using Google Assistant technology to power its virtual assistant, Fargo, according to Michelle Moore, head of digital at Wells.

Former Bank of England Gov. Mark Carney has dismissed reports that Wall Street banks threatened to walk out of the climate-finance coalition he heads, but also said that "tension" within the group needed to be addressed.

JPMorgan Chase is set to add another 20 people to its Saudi Arabia operation by the end of the year as it looks to capitalize on one of the world's few bright spots for equity capital markets, despite simmering political tensions between U.S. President Biden and Saudi Crown Prince Mohammed Bin Salman.

Attorneys general from 19 states issued subpoenas to six large banks seeking information about their climate policies. They say they're seeking to hold banks accountable for the fairness of their ESG policies to fossil-fuel companies, but others call it intimidation.

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.