Banking

Alabama Credit Union's agreement to buy Security Federal Savings Bank, a small commercial lender, renews lingering questions about whether small banks are prey for tax-advantaged credit unions.

The agreement between the state’s financial regulator and Meratas will subject the company to heightened regulation after years of criticism that income-share agreements have escaped scrutiny.

The Rhode Island company has been snapping up banks and nonbanks alike. It says that buying Willamette Management Associates in Oregon will augment its 2017 purchase of Western Reserve Partners.

First United Bank in Oklahoma bought a minority stake in Exencial Wealth Advisors instead of acquiring it outright to give the owners an incentive to stick around and help build the business — and to make it easier for the bank to bail if things don't work out.

As the Federal Reserve mulls the idea of issuing a digital currency, some industry representatives are already sounding the alarm. Their main concern is a new regime for storing cash will reduce demand for bank deposits.

Stacy Kymes, the bank's chief operating officer and a 25-year company veteran, will succeed the retiring Steven Bradshaw.

The credit union is using Ameriprise Financial Institutions Group's system to add to the suite of investment services that it offers to members.

Banks should favor the development of U.S. data rules that let them freely share consumer information with, and receive it from, fintechs. The alternative, where banks merely send data to third parties for a fee, would be less competitive and less beneficial for all parties.

Gulf Coast Federal Credit Union has converted to a multiple common bond charter, which has no geographic limits, and is eyeing several potential new markets.

First National Bank of Omaha and Centime, a Boston software company, have developed a tool that banks rarely offer small businesses: a portal that forecasts cash flow, helps entrepreneurs anticipate shortages and provides a ready source of credit when they fall short.

Consumers who had paid down balances during the pandemic started spending more, while issuers made additional credit available, according to researchers at the Federal Reserve Bank of New York. The findings suggest the start of a return to more normal borrowing patterns in the card industry.

“You need scale to keep up with necessary technology spend and regulatory costs,” CEO James Hillebrand said in explaining why the bank agreed to buy Commonwealth Bank & Trust just three months after it bought Kentucky Bancshares.

The industry had tightened up last year in the face of COVID-19. But as the economic outlook improves, banks are now easing criteria amid heightened competition, according to the Federal Reserve’s survey of loan officers.

First Hawaiian and Bank of Hawaii are warning that a global spike in coronavirus cases could stunt the state's momentum and threaten credit quality.

On Mar. 31, 2021. Dollars in thousands.

The bureau said two rules related to communications with debtors will go into effect as originally planned on Nov. 30. The agency had previously proposed an extension to consider consumer advocates' concerns about the regulations.

Citigroup’s chief financial officer said China’s recent moves to crack down on companies isn’t likely to harm the bank’s business across the Asia-Pacific region.

Customers are responding well so far to the Minneapolis bank's May rollout of video appointments with branch bankers.

The regulatory agency issued two new prohibition orders, bringing the yearly total to 10.

The Office of the Comptroller of the Currency’s pledge to rescind Trump-era Community Reinvestment Act reforms and work with other regulators suggests that an interagency agreement is within reach. But outstanding issues remain, particularly around the treatment of online banking activities.