Banking

Adelphi Bank in Columbus, Ohio, would be just the nation’s fourth depository with a predominantly African American board of directors. “The hope is that we change lives,” said Jordan Miller Jr., who would serve as president and CEO.

The firm's global head of transaction banking says practicing meditation helped him manage a team that built a new corporate banking platform. His leadership of the project was one reason Moorthy was selected as a finalist for American Banker’s Digital Banker of the Year.

No matter the outcome of the confirmation battle over Saule Omarova — the Biden administration nominee for comptroller of the currency whom many bankers view as too liberal — policymakers must still resolve this fundamental question: Are banks public utilities or private companies with special privileges?

Republicans on the House Small Business Committee question the wisdom of having the Small Business Administration depart from its traditional model of backing loans made by private-sector lenders. But agency Administrator Isabella Casillas Guzman says the plan is necessary to fill "large gaps" in credit availability to the smallest companies.

Acquiring the company, which has a namesake savings app, would allow the Silicon Valley lender to accelerate its plan to offer more consumer banking services. The deal comes less than six weeks after Oportun withdrew its application for a bank charter, which it plans to refile.

Tina Dix, the chief executive of OUR Credit Union in Royal Oak, will step aside in July. The $365 million-asset credit union has retained a search firm to find her successor.

After more than a year of collaboration, the Minneapolis bank is buying the company to enhance its corporate expense and travel management offerings.

Backups at ports have created inventory and cash-flow challenges for many businesses. Bank of the West, Swift, SAP and others are offering customers faster payments services, short-term loans and virtual cards to ease liquidity pressures.

Americans are looking for immediate ways to offset rising costs, rather than saving points for future travel. Cash rewards, which were already growing in popularity, are now even more coveted.

Lincoln Parks at Heritage Bank in Georgia built from scratch its social media following, a digital-only way to open accounts and (in 48 hours) a Paycheck Protection Program lending system. For these and other efforts, Parks is a runner-up for American Banker’s Digital Banker of the Year.

Now that dispersed workforces are expected to be the long-term norm, banks are taking steps to maintain a sense of teamwork and giving managers new training in troubleshooting.

The data aggregator assembled a group of technology companies that has developed a set of security standards for startups. It is open for comment ahead of an anticipated implementation in the second half of next year.

Patriot National Bancorp was exploring a digital pivot, and American Challenger Development Corp. had been seeking a bank charter in its quest to become open an all-digital bank. They decided it was quicker to join forces.

The company’s software analyzes banks’ loan programs and rejections for signs of discrimination.

Year to date Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.