Banking

Heartland BancCorp recently added Republican Lt. Gov. Jon Husted to its board of directors. One government watchdog group said the move raises questions about potential and perceived conflicts of interest.

Under the deal, participating members of the BancAlliance network will be able to buy interests in loans originated on the digital lender’s platform.

Bob Bruns, who has been with the North Carolina credit union for roughly 40 years, handed the reins to Eric Gelly on May 1.

Acquiring the 151-year-old PCSB would give the buyer its first presence in the deposit-rich metro New York marketplace. After the $313 million deal closes, Brookline will operate two separately chartered subsidiaries in addition to its namesake bank.

The bureau’s new office of competition and innovation will promote competition, host events and seek to make it easier for consumers to switch financial providers.

Citigroup is weighing a deal to buy Deutsche Bank's Mexican bank amid plans to set up a new local unit as it exits retail operations in the country, according to people familiar with the matter.

Martin Gruenberg, the agency' acting chair, said it will be watching commercial real estate and other assets as matters of “ongoing supervisory attention.” 

Cambridge Bancorp in Massachusetts said it would acquire Northmark Bank in a transaction valued at $63 million.

As it walks away from retail here, the French bank wants to help business clients go abroad: “You have to be present.”

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.

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

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

Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.

First Northern Community Bancorp Chief Executive Louise Walker said she will hand over the bank’s reins to its chief operating officer at the end of 2022.

The Swedish buy now/pay later company Klarna Bank saw its borrowing costs rise to their highest level on record as rising rates hit the company’s debt and equity valuation. 

Some U.S. credit unions are hopeful that rising employment and auto lending activity will bring consumers back, countering the effects of inflation and rate hikes that have weighed on growth.

The state of Connecticut recently handed the small-dollar marketplace loan provider a cease-and-desist order, but Rodney Williams says his company is getting much-needed emergency funds into marginalized communities at a low total cost, and that the rules need to be rewritten.

Banks need to come together to create interoperable tokenized deposits, as part of an effort to bridge the gap between traditional finance and blockchain.

Sustainable finance activists argue in a new report that big companies are underreporting their emissions because they aren’t accounting for what banks do with their deposits. The findings add to a debate over how to measure firms’ contributions to climate change.

Susan M. Gruber succeeds longtime leader Alison DeTuncq.