Banking

Some banks and credit unions, once hopeful of a swift end to the pandemic, are beginning to toughen credit underwriting and rethink growth strategies as if the coronavirus will influence the economy for years to come.

Subprime borrowers whose credit scores have risen since they bought their cars are increasingly looking for a better deal. Credit unions and small banks are seizing the opportunity, often with the help of fintechs.

The sale to the Florida-based insurer Brown & Brown would give Berkshire Hills Bancorp an infusion of capital that it intends to invest in more profitable businesses, executives said.

Increased access to telehealth visits. Cash incentives to get vaccinated. Bring your dog to work — every day. These credit unions, though still providing traditional team-building fun and games, have taken extra steps this year to cater to the needs of employees.

Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.

The bank, which issues the Voyager card, and Mastercard are collaborating on U.S. Bank’s first-ever fleet credit card accepted on multiple networks.

The ranks of depositor-owned banks have been dwindling for decades, but meat distributor Charlie Cumming has a plan for starting one that will serve organic farmers. Can it work?

More than a dozen banks and credit unions in Canada are launching an instant business-to-business payments service. Here’s what U.S. banks and the Federal Reserve could learn from it.

The price for the 20% stake in Santander Consumer USA Holdings that Santander does not already own is significantly higher than what the buyer first offered in July.

The COVID-19 pandemic has exacerbated income inequality in America, and that has implications for banks and other lenders. Among those suffering most: renters, front-line workers and minority small-business owners.

Seacoast Banking Corp. of Florida, which has bought 10 banks over the past decade, has agreed to acquire community banks in Sarasota and Melbourne.

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

Year to date through Jun. 31, 2021. Dollars in thousands.

Fintechs and banks have stepped up their efforts to help so-called “credit invisibles” obtain credit through secured cards, specialized installment loans and use of alternative data in underwriting. Amid much progress, questions remain about how effective these tools really are.

Bankers are hopeful that the rebound in oil prices and a spike in natural gas use are precursors to more borrowing. But banks are maintaining above-average levels of reserves in case the delta variant stifles economic momentum.

Mid-Southern Bancorp angered several large shareholders after disclosing that it bought another’s shares for a hefty premium. The seller’s identity is unknown, but the bank’s shareholders include a number of prominent activists.

Scott Credit Union of Edwardsville said it is acquiring Tempo Bank in Trenton, Illinois. It is the fifth such transaction announced since Aug. 5 and the 10th of the year.

It would be the second bank acquisition for Fairwinds, which bought Friends Bank in Florida in 2019.

Signed Thursday by Gov. Andrew Cuomo, the new law requires state-chartered banks to pay checks in the order they are received or from smallest to largest. The bill comes as banks nationally are revamping their overdraft policies.

Victor Ngo, 33, has pleaded guilty to making a false statement to JPMorgan Chase when he said his medical marijuana dispensary was a wellness and fitness company.