Banking

The agency proposed reporting standards for any institution that originates 25 or more small-business loans a year. The measure would be especially burdensome for very small lenders and could limit credit access in underserved communities, critics say.

With its sale to Blue Ridge Bankshares set to close within months, FVC Bankcorp is moving to diversify by taking a 29% stake in Atlantic Coast Mortgage.

Mos, a student financial-aid startup backed by investors including Sequoia Capital and the rap star Jay-Z, is venturing into banking.

The shift away from human contact increased the popularity of kiosks, ATMs and other technologies that allow for more flexibility in payment methods.

The banking industry is now enjoying a "strong" reputation overall, after building on gains made at the height of the pandemic. Here's who stood out and why.

Google has tied up with an Indian small lender to offer time deposits to users of its payments wallet, extending its presence in the nation’s lucrative digital banking space.

The Office of the Comptroller of the Currency is seeking nearly $19 million from David Julian, Claudia Russ Anderson and Paul McLinko. The trial before an administrative judge is scheduled to begin in South Dakota on Sept. 13.

The National Credit Union Administration issued four prohibition orders and two notices of prohibition against individuals accused of theft, misappropriation of member funds and making fraudulent loans, among other allegations.

The Chicago subprime lender had previously warned that regulators were investigating its military lending practices. Its stock price rose by about 9% after the disclosure that the probe has wrapped up.

There's still a month left in the federal government's fiscal year, and the Small Business Administration's 504 program is perilously close to hitting its congressionally mandated funding limit for new loans.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

LOC Federal Credit Union and MemberFocus Community Credit Union aim to utilize the flexibility of the latter’s state charter to enlarge membership.

As more banks and fintechs offer installment loans at the point of sale, CO-OP Financial Services and PSCU are designing products to allow credit unions to compete in this market as well.

Many insiders are wondering about a contingent of senior executives who oversee some of the pillars of the Wall Street powerhouse that Tom Montag helped build: dealmaking, trading and commercial banking.

The e-commerce giant will partner with Affirm to offer installment payments as point-of-sale credit becomes increasingly popular as a finance option.

The Fed, FDIC and OCC have issued guidance that says community banks should consider risk factors such as financial strength and business experience when evaluating potential fintech partners.

Some credit unions are leaning heavily on tech partners to speed payments and loan decisions, offer online financial planning sessions and deploy virtual assistant technology developed at MIT.

Regulators are calling for creative alternatives to the arduous de novo process. Pairing groups that want to open credit unions with lagging institutions would be quicker and could help preserve the sector, one credit union service organization says.