Banking

Ford Motor Co.'s application for an industrial loan company charter with the Federal Deposit Insurance Corp. will compel the regulator to articulate its stance on future applications.

The Massachusetts bank used data analytics to improve onboarding, cross-sell more effectively and prevent attrition.

The Biden administration is poised to put its stamp on the banking regulatory landscape, but there are few slam-dunk solutions that will satisfy both the industry and a vocal Democratic base.

As the industry manages high turnover, more companies are expressing dissatisfaction. Among firms that switch to a new bank, the previous bank's lack of knowledge about their business is an increasingly common reason, according to a recent survey.

Previously, many credit union CEOs were hired because they worked for the institution’s sponsor. Today the industry has become far more complex, and boards find they have to pay up to recruit candidates who can meet these demands.

Citigroup’s Mexican unit, Banamex, is likely to attract offers of about $7 billion to $8 billion as the field of bidders narrows, according to people familiar with the matter.

The digital commercial bank has been fleshing out its business lines and technology over the past year. Its new capital raise will help further those efforts.

Union Savings Bank's new technology is helping the bank compete with larger competitors and attract younger customers, its leaders say.

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

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

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

It is essential to place the central focus on race, to bring nondepository mortgage lenders under the Community Reinvestment Act umbrella and to address bias in home appraisals.

The last time inflation burned hot, consumers could put money in the bank and watch it grow like the prices on store shelves, easing much of the pain. Not this time — and that’s stoking profits for U.S. lenders.

JPMorgan Chase CEO Jamie Dimon and other big-bank chief executives have been speaking about how they plan to manage higher capital requirements following the Federal Reserve’s recent stress tests.

Flush with capital and touting its biggest loan pipeline ever, the nation’s No. 1 Small Business Administration 7(a) lender is laying plans to hire dozens of bankers away from competitors. It’s one of several companies seeking to expand at a time when others are likely to pull back on commercial lending.

The San Antonio-based bank reported 17% deposit growth during the second quarter. CEO Phil Green was critical of competitors that resist paying more to depositors, saying: “We don’t think that’s a credible position.”

In the prohibition order, the National Credit Union Administration said the employee allowed a member to overdraft an account by more than $74,000.

The Maryland bank has lost 13% of its credit card customer base in the past year amid a flurry of marketing activity by newer players. But it is refusing to panic.

A combination of higher organic loan growth and fee-based revenue streams powered top-performing banks in 2021.

Three Black-owned U.S. banks have bought a piece of a $1.23 billion syndicated corporate loan, a rare move in a market typically dominated by bigger Wall Street and regional lenders.