Banking

The Philadelphia bank, headed by Vernon Hill, is already fighting two lawsuits from activist shareholder groups. It also risks being delisted by NASDAQ for indefinitely postponing the meeting.

The Biden administration once again extended the pause on student loan payments enacted to help borrowers during the COVID-19 pandemic, this time through the end of August.

In global news this week, HSBC goes deeper into the metaverse; Visa has a new innovation hub in Kenya; Google may run afoul of South Korean payments law; and more.

Vocal in their opposition to some restrictive state laws in recent years, most institutions are silent on similar laws being pursued today. Why?

New York Fed researchers found that banks operating in areas hit by tornadoes, floods and other calamities weren’t financially hurt by those disasters. That surprising result comes with significant caveats, however.

Two years since the coronavirus began its spread, members are still hoarding savings and are hesitant to borrow due to the economic uncertainty. This has led to the industry's lowest-ever yield-on-assets ratio — a key metric for measuring financial health.

Citigroup agreed to sell its consumer banking operations in Bahrain to Ahli United Bank BSC as part of the lender’s continued push to simplify.

Institutions are hiring aggressively or buying up competitors to take part in an equipment finance boom as the economy continues to heal.

Ryan Goldberg succeeded Mark Shobe, who had led the institution since 2000.

Robyn Luhning, the bank’s head of environmental and social risk management, takes the position at a time when financing for the fossil-fuel industry faces scrutiny. Other large banks have created similar roles in recent years.

On Dec. 31, 2021. Dollars in thousands.

Barclays is developing a global private credit strategy, according to several people familiar with the situation, seeking to take part in the fast-growing $1.2 trillion asset class.

Vernon Hill, Ellen Alemany and Joseph Otting are among the executives whose careers took a turn after their company was acquired. Here’s a look at what eight CEOs did after their time atop a bank ended.

Citizens' overdraft break, Warren's digital-dollar push and more in banking news this week.

Rick Patel succeeds John Faust, who led Diamond for nearly 30 years.

Increased interest income would boost banks’ lending profitability, but inflation and mounting expenses, along with the specter of potential recession, loom large.

VyStar Credit Union and Heritage Southeast Bank postponed to June 30 the deadline to close their merger. The $196 million deal, announced a year ago, was originally slated to close by December 2021.

Questionnaires sent to banks in recent months seek information about loans to same-sex couples, women on maternity leave and people with limited English proficiency. Industry executives and attorneys say the Consumer Financial Protection Bureau may be offering hints about specific types of fair-lending cases it could pursue.

Democrats at a hearing on Capitol Hill contended overdraft fees hurt low-income consumers and should be reined in — with Rep. Maxine Waters proposing to make larger banks offer an account without such charges. Yet Republicans said eliminating the fees would drive some consumers toward predatory lenders and away from small banks.