Banking

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.

The digital bank is returning to crypto trading, a service it first offered in 2019 but had to shelve due to regulatory compliance concerns.

Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.

The pending sale of the branches in eastern Pennsylvania to a central New York-based bank comes amid Santander's planned closure of 18 branches this summer and its continued focus on building out a national digital bank.

The prolific purchaser is entering the state in a bid to expand its Southwest presence.

Many young people begin their journey into adulthood without a solid grounding in the basics of personal finance. Banks and other financial institutions are in a unique position to provide that knowledge.

New self-regulatory guidelines for credit cards and checking accounts are arriving at a time of deregulation in Washington, D.C.

Cincinnati-based First Financial scooped up Westfield Bank near Cleveland after Westfield's parent company decided to exit the bank space and focus on its core insurance business.

A number of fintechs emerged amid the COVID-19 pandemic as a flurry of Paycheck Protection Program loan applications inundated banks. Now, the government is alleging many of them facilitated or committed fraud.

The Cincinnati bank aims to grow in northeast Ohio with the acquisition of Westfield. The deal is expected to boost First Financial to a $20.6 billion institution.

Nissan Motor Acceptance Corp. has applied for an industrial loan company charter, joining General Motors and Ford in hoping for better prospects for approval under the Trump administration.