Banking

Alternative lenders should be held to the same standards as banks under the Community Reinvestment Act and other laws, M&T CEO René Jones argued in a letter to shareholders.

Lawmakers in New Mexico recently approved a stringent rate limit, and similar efforts are underway in Rhode Island and Michigan. The state-level actions are among the "numerous headwinds" facing high-cost lenders, one analyst said.

The New York bank recently converted 3 million GM Rewards cardholders to its Marcus app, the next phase of its plans to offer more banking services in unexpected places.

Richard Adams Sr. will step down from United Bankshares' top job on April 1, after 47 years. Current President Richard Adams Jr. will take over.

The industry reported a jump in trading revenue and investment banking fee income, which helped offset rising expenses, according to the Federal Deposit Insurance Corp.'s latest Quarterly Banking Profile.

Americans with student loans are about to get a stark wake-up call on their borrowings as government relief programs phase out, according to a blog post by the Federal Reserve Bank of St. Louis.

The Columbus, Ohio, bank has agreed to buy an investment banking and advisory firm that caters to midsize companies to "accelerate" the growth of its capital markets unit.

Bank of Nova Scotia and Bank of Montreal got an earnings boost with commercial clients ramping up their borrowing as economies emerged further from the pandemic.

Consumers are expected to be their own chief financial officers, and students should be formally prepared for the job like any professional. Banks can support such education programs and reward those who complete them.

Customers who have access to suitable credit and other offerings and know how to use them appropriately can seize economic opportunities, open businesses and contribute to the collective success of communities, F.N.B. chief Vincent Delie Jr. argues.

The Canadian banking giant established a nine-month window to finish its $13.4 billion purchase of First Horizon, which could be challenging given the tighter regulatory scrutiny of bank M&A. After November, the price tag will go up.

Robins Financial Credit Union is acquiring the $430 million-asset Persons Banking Co. The deal, announced Monday, comes less than a week after Georgia’s Own Credit Union in Atlanta said it is buying Vinings Bank in Smyrna.

With the buy now/pay later market cooling and regulatory scrutiny increasing, Zip aims to rapidly scale with merchants and consumers.

The New York bank said it called off the acquisition of Amalgamated Bank of Chicago because it has been unable to obtain regulatory approval. But the seller expressed hope that the deal could still move forward.

CFPB Director Rohit Chopra said the bureau is concerned that the spike in car prices, due partly to the global chip shortage, could create incentives for servicers to illegally seize vehicles for their resale value.

The Credit Union National Association kicked off its first in-person governmental affairs conference in two years with members sharing concerns about data-privacy rules, cryptocurrency, prospects for industry growth and the potential economic fallout of war in Europe.

On Dec. 31, 2021. Dollars in thousands.

On Dec. 31, 2021. Dollars in thousands.

The Bethpage, New York, credit union plans to use the fintech’s risk models to improve loan decisioning.