Banking

In an appeals court filing, the Consumer Financial Protection Bureau wrote that a federal judge "ignored regulatory text, history and context" when she ruled against a PNC customer. The consumer argues that the bank shouldn't have pulled funds from his checking account after he was tardy in making payments on his home equity line of credit.

The National Credit Union Administration order says the small credit union must address "supervisory concerns" by conducting certain auditing and fraud reviews and taking other corrective steps.

The portfolio purchase, which follows the sale of MUFG Union Bank to U.S. Bancorp, represents about 32% of LendingClub's own personal loan portfolio. It should help boost the online lender's growth while using some of its excess capital.

Across Wall Street, this year's bleak expectations for banker bonuses are rapidly proving true, as a slump in dealmaking ends the industry's war for talent and firms regain the upper hand in setting pay.

Baseball great joins Farmers National team, waiting game ends for two deals and more in banking news this week.

Small credit unions in Texas, Virginia, South Carolina and Florida have selected new leaders to succeed retiring executives or fill a vacancy.

With the final piece of its regulatory puzzle in place, Newtek, a business development company and the nation's No. 3 SBA 7(a) lender, plans to complete its acquisition of National Bank of New York City in January.

Protecting depositors' stablecoin holdings could be the difference between providing the economy with a new boost and creating unnecessary drag.

Both Canadian banks are awaiting green lights from regulators for their pending acquisitions of U.S. banks. "We don't control the timing of all the regulatory approvals," TD's chief executive said Thursday.

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.