Banking

First Citizens BancShares said its $2.2 billion acquisition of CIT Group, closed in the first quarter after months of regulatory delays, is finally coming together.

President Biden said he’s considering a plan to relieve student debt in the coming weeks, but that it would fall short of the sweeping forgiveness sought by Senate Majority Leader Chuck Schumer and progressive Democrats.

The new hires joined Veritex from Bank of Houston, which has also been aggressively recruiting bankers.

With new guidance and a simplified chartering process, the National Credit Union Administration seeks to counter the trend of closures and consolidations.

Block, the digital-payments firm run by Jack Dorsey, is expanding its small-business loans service to Canada, bringing it into more direct competition with the country's biggest banks.

In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.

The Consumer Financial Protection Bureau director told Congress he will revise some rules as the bureau looks to address late fees.

Analysts were expecting Capital One’s marketing spending to slow significantly after it surged to nearly $1 billion at the end of the year.

LincolnWay Community Bank in Illinois has agreed to be sold to CoVantage in Wisconsin, adding to a trend of bank-credit union deals that has drawn backlash from many small-bank executives.

Managers who consciously look to set the tone by brightening work environments with their own smiles and laughter tend to create environments with greater employee and customer engagement.

Lendistry, a fintech community development financial institution, obtained a license that allows it to become one of the few nondepository lenders with access to the Small Business Administration's flagship lending program.

The Mississippi-based First says the deal would allow it to acquire key talent, bolster its presence in northwest Florida and expand into the Tampa area.

In global news this week, scammers target Revolut's program for Ukrainian refugees; Commerzbank applies for a crypto license in Germany; Nium merging with Socash; MyPinPad merging with SmartPesa; and more.

The first-of-their-kind measures, urging banks to move more aggressively to curtail new fossil-fuel lending, garnered between 11% and 13% of the vote at Bank of America, Citigroup and Wells Fargo. Those totals were less than climate activists had hoped to garner, but high enough to clear certain thresholds for resubmission next year.

M&T Bank in Buffalo, New York, named Peter D’Arcy head of commercial banking after completing its acquisition of People’s United Financial earlier this month. D’Arcy will take over from Gino Martocci, who is retiring.

Although small banks and credit unions are enjoying healthier loan portfolios, they are also bracing for potential setbacks due to higher interest rates and inflation.

More than two years into the pandemic, banks hit several turning points during the first quarter. On the positive side, commercial loan growth finally materialized, but there were also snags, particularly in fee income.

On Dec. 31, 2021. Dollars in thousands.

On Dec. 31, 2021. Dollars in thousands.

On Dec. 31, 2021. Dollars in thousands.