Banking

While the industry is facing greater pressure to scrutinize the environmental risks associated with its financing activities, many banks also sense opportunities in climate change. Here are some examples.

In merging with First Midwest Bancorp, the Indiana company would finally gain a presence in the Midwest’s largest city.

Many loyal Simple customers have complained about the recent decision by BBVA USA to close the fintech seven years after buying it. The lingering business and cultural challenges that led to the move underscore the long odds against making such combinations work.

Republic Bank in Louisville is the first community bank to launch Mastercard's True Name service, which allows customers to display their chosen name on debit cards.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

First Midwest Bancorp in Chicago and Old National Bancorp in Evansville, Indiana, agreed to an all-stock merger-of-equals that would create a $45 billion-asset Midwestern regional player.

The combination of Valley Strong Credit Union in Bakersfield and Financial Center Credit Union in Stockton would have 27 branches and nearly 200,000 members throughout the San Joaquin Valley.

The London-based banking giant announced a plan this week to exit the mass-market U.S. retail business and focus on managing the wealth of affluent globe-trotters. But other international banks will provide stiff competition.

The U.S. unit of Toronto-Dominion Bank plans to invest in CDFIs and specialized funds that serve Black, Hispanic and other diverse business owners in its East Coast territory.

Ahead of its U.S. launch, the London-based payments card aggregator has raised $14 million from 12,000 individual investors that it hopes to convert to customers.

The heads of the six largest banks endured a second day of testimony as House members quizzed them on overdraft fees, investments in minority businesses and other issues. Meanwhile, the executives pushed back on Democrats’ proposal to raise the corporate tax rate.

Nearly a quarter of Black business owners seeking Paycheck Protection Program loans last year applied to fintechs — not far behind the percentage that turned to community banks, according to a New York Fed study. Deepening those new relationships could be a major source of growth for online lenders.

Honor Credit Union, one of Michigan’s largest credit unions, announced it's combining with ATL Federal Credit Union, which has just $15 million of assets.

Acquiring the U.K. bank’s East Coast branches and online-only bank is “great for our balance sheet, great for our physical footprint” and will accelerate the growth of Citizens’ own direct bank, says Chief Executive Bruce Van Saun.

The seemingly expensive acquisition of Aquesta Financial Holdings is the cost of expanding in North Carolina's largest city.

Josh Haney, who has worked at the Indiana credit union in various roles since 2005, is now its chief executive.

After the retirement of its long-time leader, Foothill Federal Credit Union named Michael Terzian, who had been interim co-CEO of Partners FCU, as its new president and CEO.

The Indiana credit union's chief financial officer had been interim chief executive since September 2019.

The head of the six largest banks take flak from both Democrats and Republicans at Senate hearing; the rising price of digital assets is enabling them to poach senior mainstream executives.