Banking

The funds will help the Podolsk Regional Development Agency supply refugees of the Russian invasion with basic necessities such as food and water.

Consumer Financial Protection Bureau Director Rohit Chopra should exercise his power to extend the full protections of Regulation E and the Fair Credit Billing Act to the booming installment loan sector, the advocacy group U.S. PIRG says.

The Cincinnati bank and two payments companies have reached an agreement with merchants in California who accused them of illegally recording customer-service calls. The deal must still be approved by a federal judge.

Central Pacific Bank is trying hard to appeal to young residents of Hawaii as well as the mainland U.S. and Japan. It's positioning its new digital checking account as a lifestyle brand as much as a financial product.

Baselane, which helps property owners manage bookkeeping and collect rent, has created a banking unit that offers checking accounts and lets landlords establish subaccounts for such needs as saving for remodels or setting aside security deposits.

Mike Roffler takes over at a time when the San Francisco bank’s focus on mortgage lending is expected to come under pressure from rising rates.

The bank announced the departure of two longtime directors and the addition of four new board members. CEO Jerry Plush is becoming chairman as part of the shake-up.

On Dec. 31, 2021. Dollars in thousands.

Amid concerns that fees for overdrawn accounts lead to financial exclusion, the National Credit Union Administration is focusing its attention on such policies this year.

Under procedural changes recently adopted by the Consumer Financial Protection Bureau, the director could pursue more enforcement actions administratively without federal court approval. Financial firms may have a harder time defending themselves as a result.

The San Francisco bank promoted its president, Mike Roffler, to the top job. He succeeds founder Jim Herbert, who has been on medical leave and now becomes executive chairman.

European banks operating in Russia are preparing to separate those business from their main computer systems to reduce their vulnerability to cyberattacks following the invasion of Ukraine.

In a survey last month, only one in 10 chief executives identified mergers as their top priority, while 77% pointed to organic growth. The sparse interest in dealmaking may be due to volatile markets, along with slower approvals from regulators.

Deutsche Bank reversed course and is now joining Wall Street banks Goldman Sachs Group and JPMorgan Chase in pulling back from business in Russia following the country’s invasion of Ukraine.

M&T-People's closing date set, U.S. Bank's WNBA deal and more in banking news this week.

CEO Nitin Mhatre, who joined the Massachusetts bank in 2021, said that any M&A deal is at least a year away. For now, the bank is working with fintechs as a way to bolster its balance sheet and deliver exceptional customer experiences.

Thousands of staff, billions of dollars and three decades of complicated relationships. Some of the world’s largest banks are starting to pull back from Russia, but it’s not going to be easy.

Emma Hayes, who is also the chief diversity officer for the African American Credit Union Coalition will take the lead on programs to further diversity, equity and inclusion for the Raleigh, North Carolina, credit union.

The deal for Horizon Community Bank in Arizona is the fifth instance of a credit union agreeing to buy a bank this year, and the second such deal for the Phoenix credit union, which bought Pinnacle Bank in 2019.

Prosecutors say Rafael Martinez and his company, MBE Capital, used false information to reap more than $71 million in fees from loans made under the Paycheck Protection Program.