Banking

Deutsche Bank's wealth management business has stopped accepting new Russian clients living abroad, joining other lenders in reducing business with the country’s rich.

Farmers National Banc Corp. in Canfield has agreed to buy Emclaire Financial in neighboring western Pennsylvania — its first move across state lines.

The $23 billion-asset company announced a series of changes that will reduce its reliance on charges that disproportionately hit customers with low balances.

American fossil-fuel suppliers are moving to tie their bank credit lines to sustainability goals, including slashing their carbon footprint. 

Bank of Montreal is selling about C$2.7 billion ($2.1 billion) in shares to help fund its purchase of Bank of the West from BNP Paribas. 

Burke & Herbert, which is based in Alexandria and has been in operation since 1852, has joined a long list of banks planting their flags in Richmond, where the overall deposit market has grown 32% in just five years.

The Federal Reserve's unanimous approval is a win for the Rhode Island company, though it will have have to take part in an additional round of stress tests in 2023.

Jason Osterhage was most recently executive vice president and chief operating officer of Texas Dow Employees Credit Union in Lake Jackson, Texas.

SoFi Technologies and MoneyLion offer a slew of banking services. Will this enable them to grab significant market share from traditional institutions?

Though it's one of the largest U.S. credit unions at $15 billion of assets, the organization still works with a number of fintechs to live up to its name.

The two similarly named companies had planned to merge. At issue is whether Amalgamated Financial in the Big Apple violated terms of that agreement when it called off the deal in February.

Federal student loan borrowers are likely to experience a notable increase in delinquencies once forbearance concludes in May, a report from the Federal Reserve Bank of New York found.

On Dec. 31, 2020. Dollars in thousands.

Banking executives and analysts worry that the Federal Reserve's aggressive plan to raise interest rates will be insufficient to tame inflation and overcome economic fallout from the war in Ukraine.

JPMorgan Chase and HSBC are among the banks that have set up shop in virtual worlds or plan to.

The move away from the scandal-plagued London interbank offered rate is going smoothly, according to a new survey of lenders and corporate borrowers. But many customers still face operational challenges ahead of a mid-2023 deadline for switching older loans.

Banks across Europe and the U.S. committed to lend tens of billions of dollars for leveraged buyouts and acquisitions. Now they need to find buyers for the debt, and demand is relatively weak.

PayPal does its part in Ukraine, recognition for U.S. Bank and more in banking news this week.

In an update to an exam manual, the Consumer Financial Protection Bureau says racial or other bias associated with a wide range of financial products — not just credit — is illegal and subject to CFPB enforcement actions.

In response to the war in Ukraine, the custody bank is no longer pursuing new business in Russia. Citigroup, JPMorgan Chase and Goldman Sachs have all announced similar moves.