Banking

Auto loan growth eased substantially in the second quarter amid competitive pressures from credit unions and other lenders.

Barstow Community Credit Union, which is merging with the much larger Frontwave, has seen a string of losses in recent years.

Customers told the Consumer Financial Protection Bureau that bank customer service practices need a lot of work, but banks say more regulation would only make matters worse.

The Canadian bank, which reported its quarterly earnings Thursday, recorded $22 million in charges related to its acquisition of First Horizon. Executives say they still expect the deal to close no later than January.

From consumer credit to deposits to inflation, President Biden's move to excuse up to $20,000 in student debt per eligible borrower will have ramifications throughout the banking sector.

Four consumer organizations joined the Independent Community Bankers of America in opposition to the automaker's push for an industrial bank. They cited consumer privacy concerns and the risk of mixing commerce with banking.

The combination of Klamath Public Employees Federal Credit Union and Pacific Crest Federal Credit Union would create an organization with more than $335 million of assets and roughly 24,000 members.

Kathleen Orovitz will be the Rhode Island credit Union's next president and chief executive, succeeding Gary Furtado, who announced his retirement in June.

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.

The state's lottery program has begun referring the 30,000 people a year who buy winning tickets to credit unions for financial advice.

The new law relies partly on U.S. companies paying higher taxes to raise money for climate change and health care initiatives. Here's how banks will be affected.

The Center for Responsible Lending, the Woodstock Institute and other left-leaning groups argue that the $13.4 billion merger will harm low-income communities, reduce small-business lending and add to systemic risk.

Former Goldman banker Brijesh Goel was arrested last month for insider trading. His friend, ex-Barclays trader Akshay Niranjan, is "co-conspirator 1" in the criminal complaint against Goel, and the man who turned on his buddy, according to people familiar with the matter.

President Biden announced a sweeping package of student-debt relief, forgiving $10,000 in debt for borrowers who earn less than $125,000 per year and households who earn less than $250,000 and $20,000 in debt for Pell grant recipients.

We can't afford to miss this opportunity to build capacity in community development financial institutions.

Bank lending activity grew at a strong clip in the second quarter and continues to expand. Yet rising interest rates and recession concerns could hamper future growth.

Goldman Sachs Group is reconsidering how to launch a long-delayed product for the masses as senior executives wrestle with cost overruns.

Todd Cover, the longtime president and CEO of USSCO Federal Credit Union in Pennsylvania, has joined InFirst Bank as vice president of business development.

The acquisition of Town and Country Financial would provide the buyer entrance into Springfield and St. Louis Metro East.

The Canadian banking giant reported a 22% increase in loan balances, with the largest contribution coming from the United States. The surge in lending helped to compensate for weakness in debt and equity issuances.