Banking

Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to service members who were illegally charged surprise overdraft fees when their accounts had sufficient funds.

The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.

Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.

Bank regulators should be in the business of proactively encouraging innovation in financial services, rather than taking a reactive stance that focuses on punishment.

While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.

The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.

More than 5,000 rent-stabilized New York City apartments are facing a funding crunch after a federal judge denied a request to tap the income of its major lender, Flagstar Bank.

GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.

The new trade levies are changing the way businesses import and export goods and how they finance their transactions. HSBC's Marissa Adams, Europe and Americas Regional Head of Global Trade Solutions, discusses what's next.

The insights of frontline employees can be invaluable tools for improving a bank's operations. It's up to executives to get out of the office and listen to what they have to teach them.

Megadeal activity picked up in June.

The Santa Anna National Bank in Central Texas is the second bank to fail this year.

Richmond, Virginia-based Atlantic Union Bankshares has sold $2 billion in performing commercial real estate loans to Blackstone Real Estate Debt Strategies. 

Truist Financial is bulking up its commercial and corporate banking arm by hiring senior executives from rival firms and promoting from within; F.N.B. Corp launches a $46 million-dollar community development program focused on Main Street revitalization; buy now/pay later lender Affirm extends its partnership with Moore Capital through May 2027; and more in this week's banking news roundup.

The Senate Banking Committee is now proposing to cut the cap by which the Consumer Financial Protection Bureau can request funds from the Federal Reserve to 6.5% of the Federal Reserve's operating budget after its opening bid of 0% was rejected by the Senate parliamentarian.

While consumer distress in auto and personal loans also picked up, the pace of growth among mortgages was atypical, Vantagescore's monthly credit gauge said.

How Capital Performance Group conducted its rankings analysis.

Gov. Mike Dunleavy, a Republican, vetoed a bill that would cap consumer loan rates at 36% APR, arguing it would restrict credit access for vulnerable Alaskans.

An error in data submitted to the Consumer Financial Protection Bureau about consumers with no credit record — known as "credit invisibles" — has skewed the agency's reports, showing that the number of Americans without credit histories is half what it was thought to be.

Lenders have been working to shrink their rent-regulated real estate loan portfolios since a watershed state law passed in 2019, but those plans may be accelerated.