Banking

Barely two years after adopting a bank charter, NewtekOne in Florida plans to expand beyond its roots as an SBA 7(a) lender by growing its alternative loan program.

Although credit bureaus have collected this data for three years, it's only now being factored into assessments of consumer creditworthiness.

The Florida bank plans to expand its solar lending operations while Senate Republicans look to end most tax breaks for clean energy.

New York's attorney general announces MoneyGram will pay a civil fine to settle a lawsuit over its handling of remittance payments; Swedish buy now/pay later lender Klarna is getting into the telecom business; Truist Financial has hired Charles Alston to lead its new nonprofit hospital, higher education and government banking team; and more in this week's banking news roundup.

Lipkin, who built Valley National Bancorp from a small community bank into a regional institution with 200 branches in four states, passed away this week at age 84.

The credit bureau is working with Plaid to provide lenders with current and predictive cash-flow data for consumers that don't have an extensive credit record.

The bank's investors hope to see the small community bank in Utah transform and grow into "a minority-owned version of Ally," as board chair Ashley Bell put it.

Both regional banks operate health savings account businesses, which could gain more customers, more fee revenue and more low-cost deposits if Congress includes a major HSA expansion in its final budget reconciliation bill.

Automated systems respond poorly when confronted with edge cases and unfamiliar circumstances. But those are exactly the moments when a customer's trust in a bank is either established, or lost forever.

The Trump administration is seeking to fire roughly 90% of the Consumer Financial Protection Bureau's staff and is fighting for that right in court. But if the administration prevails, can other consumer protection authorities from other federal regulators pick up the slack?

The Consumer Financial Protection Bureau cited ongoing litigation and cost benefits in extending compliance by roughly a year with reporting data on the race, ethnicity and gender of small business loan applicants.

In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.

The CEO of First Northwest Bancorp is promising to fight a lawsuit claiming the lender helped a client perpetrate a Ponzi scheme that bilked a hedge fund out of more than $100 million.

San Diego's North Island Credit Union joins a growing number of institutions that are prioritizing AI technology to streamline customer service.

Commerce Bancshares agreed to pay around $585 million to acquire FineMark Holdings. It's the Missouri bank's first bank deal in 12 years.

Primis Bank plans to sell an undisclosed amount of its 19% ownership stake in Panacea Financial, a digital-only lender focusing on medical professionals and veterinarians. The deal should yield $22 million.

The impact of President Trump's tariffs is the top concern for most middle-market American businesses, a new KeyBank survey found. But these firms also view the scrambled landscape as a chance to innovate and restructure.

The Federal Reserve Board banned a former relationship banker in Arkansas after he was caught stealing customer funds; Benchmark Federal Credit Union plans to merge with Franklin Mint Federal Credit Union to form a $2.1 billion-asset institution; Robin Vince, CEO of Bank of New York Mellon since 2022, has been elected chairman of the board; and more in this week's banking news roundup.

In USAA's battle with banks over mobile deposit technology, which it says it invented, a bank has scored a rare victory.

At a preliminary injunction hearing seeking to determine whether two sidelined appointees are shielded by removal protections, a federal judge pressed both sides on whether the independent credit union agency exercises executive power.