Banking

Credit unions in Georgia, Virginia and Mississippi plan to combine, creating an institution with $216 million of assets.

A group of 18 U.S. representatives is demanding Credova Financial answer questions about its no-interest financing options for the purchase of guns and ammunition.

Sumitomo Mitsui Banking Corp.'s new consumer-focused digital bank will be born out of its Manufacturers Bank subsidiary — a relatively small commercial bank with nine branches and no consumer business to speak of.

The 70 institutions on this year's list create a great work environment by offering robust benefits, recognizing a job well done and providing clear communication from the C-suite.

Data as of Jun. 30, 2022. Dollars in thousands.

Data as of Jun. 30, 2022. Dollars in thousands.

The financial industry is offering loans for solar energy projects, carbon emission trackers, green mortgages and cash-back incentives to help customers go green.

The privately held First Missouri Bank has rebranded as Verimore Bank.

Drake Bank in Minnesota is working with the fintech B Generous to test whether installment loans can help bring in larger donations to nonprofits.

The cybersecurity crisis arising from super-fast computing is approaching more quickly than the industry and its regulators may realize.

Federal Reserve Chair Jerome Powell's speech in Jackson Hole reaffirmed that the end of accommodative monetary policy is coming to an end. This is a boon to banks, but only those that have managed their balance sheets just right.

A decade ago, Think Finance partnered with Native American tribes in an effort to avoid state interest-rate caps on consumer loans. After the company's legal woes finally ended this month, court documents shed light on its rapid rise and steep fall.

The Houston banks have set a new deadline of Nov. 1 to finalize their deal, marking yet example of banks' facing a longer-than-expected decision process by the Federal Reserve. CBTX's chief said last month the wait has been "very frustrating."

Sen. Elizabeth Warren, who lobbied hard for President Biden to forgive $50,000 in student loan debt per borrower, said his much smaller plan can still address racial and gender wealth inequality and help tame inflation.

The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.

President Biden's plan to provide relief for student loan borrowers will cost about $24 billion per year, the White House now says, a figure markedly lower than private estimates.

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.