Banking

Edward Shin, the onetime CEO of Noah Bank in Pennsylvania, was found guilty of charges related to loans the bank made to businesses in which he held a stake.

Shanika Sheppard needed funding to turn her Italian ice food cart into a larger business selling Philly cheesesteaks and other comfort foods. She's one of more than 520 small-business owners who’ve received loans of $150,000 or less under the bank's Lift Local program.

Davidson County Chancery Court Judge Patricia Moskal ruled that Orion Federal Credit Union’s acquisition of Financial Federal Bank is legal under Tennessee law. The decision provides a road map for courts in other states to follow for similar M&A deals.

F.N.B. will beef up its presence in Raleigh and Durham with the acquisition of UB Bancorp.

First City Credit Union in Altadena, California, named Nav Khanna president and chief executive. He was most recently executive vice president and chief operating officer at Travis Credit Union in Vacaville, California.

The legislation blocked by John Bel Edwards, a Democrat, would have allowed consumer loans of up to $1,500 with triple-digit interest rates. Edwards wrote that the measure does not protect the public from “predatory lending practices.”

Increased interest income would boost lending profitability, but only if borrowers are confident enough in the economy to take out loans. And that's just one of the issues hammering banks' shares.

This week in global news, U.K. banks suffer an online and mobile outage, Wordline enters the metaverse, a new cross-border payment option comes to Ukraine, and more.

Get your notepad ready: these are the speakers whose insights you’ll want to remember at this year’s event in Austin.

The Consumer Financial Protection Bureau first completed its rules for payday lenders in 2017, but industry litigation has successfully kept the rule from being enforced.

Shares in Signature Bank fell by 29% in early May as cryptocurrency prices plunged. But after the bank’s chairman and outside analysts sent reassuring messages to investors, the New York bank has regained much of the ground it lost.

Prominent Philadelphia appellate attorney Alfred Putnam is charged with convening a special shareholder meeting to fill a vacant seat on the board. CEO Vernon Hill is competing with a four-member faction of the board — and two separate groups of activist investors — for control of the bank.

Alex Overstrom will succeed Karen Larrimer, who plans to retire at the end of the year, the Pittsburgh company said.

The Australian bank has co-developed a portal to all the knowledge trapped inside multiple virtual assistants throughout the company.

Kelly Botti will succeed longtime chief executive Rick Stipa effective Aug. 1.

Data as of Mar. 31, 2022. Dollars in thousands.

Data as of Mar. 31, 2022. Dollars in thousands.

The National Credit Union Administration barred three former credit union employees from participating in the affairs of any federally insured depository institution.

Denise Floyd is retiring as the head of Fort Sill Federal Credit Union in Lawton, Oklahoma. The $365 million-asset credit union hired Cornerstone Resources to find its next leader.

Through the development of data-driven DEI benchmarks and increased dialogue with both multicultural staffers and customers, these executives are helping to cultivate more representative talent.