Banking

The company has filed a lawsuit against the banking commissioner for threatening to end its partnership with a bank that enables consumer loans to exceed the state’s 36% interest rate cap. OppFi’s argument: Its bank partner is the true lender.

Spike Henderson was most recently a regional president at Equity Bank in Kansas.

JPMorgan Chase is actively unwinding its Russia business, joining Goldman Sachs Group in pulling back in response to the country’s invasion of Ukraine last month.

Demand for green bonds and other financing tied to climate and environmental projects is growing and should expand further, Bank of America CEO Brian Moynihan said.

The syndicated loan, which was led by Citizens Trust Bank in Atlanta and Carver Federal Savings Bank in New York, marks the first time that a professional sports league has gotten a loan financed entirely by Black-owned banks. Those involved hope it starts a trend.

The industry is contending with trading volatility, the economic effects of soaring energy prices and the risk of prolonged high inflation following Russia’s Feb. 24 invasion. Citigroup, TD and Comerica are among the banks that have commented on how their businesses may be affected.

Lynn Fuller, whose family has held leadership roles at the Iowa bank for nearly 60 years, blasted a plan to consolidate the company’s 11 banking charters and advocated for the sale of the organization.

Samantha Beeler, the league's incoming president, is currently vice president of advocacy for the Northwest Credit Union Association.

Citigroup, in the midst of overhauling its businesses in Russia when the country went to war, has seen efforts to sell a consumer banking unit there stall and is helping some employees transfer abroad.

The data from these transactions could help millions of borrowers with thin or nonexistent credit files. But how the credit reporting industry collects and treats the data may matter more than the data itself.

Germany has emerged as the main roadblock to broaden European Union sanctions against Russia by targeting the country’s biggest bank and its energy sector. 

Citing customers’ increased adoption of digital services over the past two years, banks are shrinking their physical presence, while also renovating the locations they keep — but credit unions are bucking the trend.

Toronto-Dominion Bank set targets for reducing the emissions intensity of lending to certain energy industries, charting a clearer path for a plan to reach net-zero emissions by 2050 while still boosting its loan book in those sectors.

Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.

The Columbus, Ohio, bank plans to cut the price to consumers who spend more than they have from $36 to $15. In another change designed to help customers who live paycheck to paycheck, it will start offering instant access to check deposits.

Chicago Title Insurance Co. and Chicago Title Co. LLC agreed to the payment to resolve a lawsuit brought by the bank, which said the firms had helped orchestrate a borrowing scam involving liquor licenses, according to a regulatory filing.

Some consumer protection initiatives, including those aimed at limiting overdraft charges and capping interchange fees, might have contributed to this lingering issue, a new Government Accountability Office report says.

Liberty Bank and Texas Capital Bank are among those trying to attract new online-only customers while experimenting with technologies to benefit the institutions overall.

The sale of Partners Bancorp in Maryland to OceanFirst Financial in New Jersey was expected to be approved by midyear. But regulators' reviews of the applications are taking longer than expected, meaning the companies can no longer “give any assurance as to the timing” of the deal's completion, Partners says.

Newtek, the No. 2 originator of Small Business Administration 7(a) loans, is buying a single-branch bank in New York. The news sent its stock price tumbling as shareholders revolted, but CEO Barry Sloane is staying the course.