Banking

With an estimated $28.6 million in excess funding for 2021, the regulator chose to direct a portion of that sum to hiring and cyber protections.

The midsize regional has long wanted to be a player in VC banking. Its deal for the U.S. arm of Israel's Bank Leumi would give Valley global scale in this lucrative line of business.

Marc Womack, a former executive at JPMorgan Chase, Capital One and GE Capital, will join the subprime auto lender next month.

The deal would propel New York-based Valley National into the ranks of the nation's 30 largest banks.

In the last 10 months, three banks based overseas have announced their exit from retail banking in this country. Rising competition, revenue challenges and a pressing need to spend big on technology are driving the moves.

SPIRE Credit Union and Midland Co-op Credit Union both began as Twin City Oil Co-ops Credit Union, but separated in 1940 at the recommendation of regulators.

The institution, which dates to the mid-1800s, helped fuel the state’s growth during the 19th and 20th centuries. Its charter will cease to exist when it's sold to U.S. Bancorp.

Shelly Brown, who was most recently the credit union’s senior vice president of operations, was tapped to lead the institution.

Its deal for the unaffiliated but similarly mission-focused Amalgamated Bank of Chicago would create a $7.6 billion-asset institution serving unions, nonprofits and organizations that support environmental sustainability and social enterprises.

The Dallas-based bank holding company said it would pay $62.5 million in cash to buy the privately held North Avenue Capital, the top lender in the USDA's Business & Industry program.

The $12.3 billion-asset Boston bank set an ambitious three-year target for mortgages and small-business loans in low-income areas. It's a major part of a $5 billion commitment to financial inclusion and clean energy.

An app that strives to be a "one-stop shop" for all money matters is likely to please nobody.

The nation's largest bank has chosen Thought Machines' technology for its U.S. consumer bank.

At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.

Whether to approve the $8 billion deal will fall to the Fed, whose board may be reshaped by President Biden in the coming months. The White House recently called for more robust scrutiny of bank acquisitions.

Only one credit union has answered the National Credit Union Administration's call for feedback on how the industry views and uses cryptocurrencies and blockchain technology.

Senate Majority Leader Chuck Schumer said he planned to move Tuesday to file a discharge petition to move Chopra’s nomination out of the Senate Banking Committee and onto the Senate floor.

By acquiring Citizens Union Bancorp, the Indiana-based German American will gain 11 branches and more than $700 million of deposits in Kentucky’s largest city.

The cash-and-stock deal would add roughly $58 billion of loans and $90 billion of deposits to U.S. Bancorp’s balance sheet, significantly boosting the company's market share in California.

The companies each recently rolled out new contactless checkout technology as they attempt to turn Amazon Prime and Square Cash into platforms that let consumers pay for goods, save money, take out loans at the point of sale and conduct other financial services all in one place.