Banking

Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.

Jenkins succeeds retiring CEO Gary Regoli at the Florida-based credit union, which has acquired several community banks and launched a bitcoin service that it later shut down.

The company lets business owners comingle personal and business finances in one app.

A pair of Congressional Review Act resolutions directed at the Consumer Financial Protection Bureau's overdraft and larger participant rules are expected to make it to President Donald Trump's desk.

As steep tariffs on Canadian goods took effect this week, banks on both sides of the border expressed concern about the economic fallout and the uncertainty their customers face.

The Detroit lender will take a first-quarter hit due to a latest balance sheet restructuring, but said the play should boost profitability in the long term.

Consumer advocates MyPath and the Mississippi Center for Justice have been allowed to intervene in a banking industry lawsuit challenging the CFPB's $5 overdraft fee cap for large financial institutions after the bureau declined to defend the rule.

The top five bank M&A deals had an average deal value to tangible common equity ratio of nearly 185%.

Edward Arthur Nurse was in charge of the vault at Park Side Credit Union. Then $389,000 went missing, replaced by piles of fake cash.

Independence Bank can cease operations once it satisfies the conditions in an FDIC consent order. Liquidation would close out a five-year drama that began when regulators cited the bank for SBA lending irregularities.