Banking

Advocates for depositor-owned banks want regulators to block the combination of a one-branch thrift and Minnesota’s largest credit union, for fear it will lead to similar deals.

Huntingdon Valley Bank in Pennsylvania and First Savings Bank in Indiana are among the banks extending their relationships with software providers to make small-business lending more efficient after the Paycheck Protection Program is phased out.

The Indiana company is buying 14 branches that Huntington Bancshares is divesting as a condition of its deal to buy TCF Financial.

The move follows the bank’s $911 million loss in the Archegos Capital fiasco; the bank will hold a 51% share in a wealth management joint venture with a Chinese bank.

With rock-bottom rates suppressing interest income, some buyers are looking beyond traditional M&A and striking deals for asset managers, insurance firms and other businesses that generate the bulk of their revenue from fees.

GreenState Credit Union's agreements to buy community banks in Illinois and Nebraska renewed the debate over whether federal tax exemption gives credit unions an unfair competitive advantage.

The former Fed vice chairman is the fourth new appointee to Klarna’s board since December. The Swedish buy now/pay later company has been enjoying rapid growth in the United States.

Faryar Shirzad will be the crypto exchange’s chief policy officer as it seeks to schmooze regulators; however, CEO Noel Quinn says he does favor central bank digital currencies.

The National Credit Union Administration placed the New Jersey credit union into conservatorship Monday, citing its "unsafe and unsound practices."

The fintech's investors include the actors Leonardo DiCaprio, Orlando Bloom and Robert Downey Jr.

Sherry Cornell, who has led the Ashtabula, Ohio, credit union since 2002, is stepping down next month.

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

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

Credit card outstandings have dropped 17% since the fourth quarter of 2019; rising prices, low inventory have put a crimp in sales of existing homes recently.

Cypress Trust in Palm Beach is poised to pull off a rarity: the conversion of a wealth management firm into a community bank. It’s simply another way to take advantage of the ongoing melding of the two financial services sectors, CEO Dana Kilborne says.

Under a plan signed into law in March, the agency will first target direct loans that it has made to socially disadvantaged farmers. Guidance that will affect small banks that have made government-backed agricultural loans is due in 120 days.

The pandemic was certainly a factor, but the Mississippi company says its decision to concentrate interactive teller machines in drive-through lanes and retrain employees who appear on-screen made a big — and potentially lasting — difference.

The investment in Finitive is one of a number of technology agreements that the commercial lender has struck recently in an effort to broaden its reach.

Carrie Hunt, the vice president of government affairs and general counsel of the National Association of Federally-Insured Credit Unions, will become the league's president next month.

Small businesses are desperately trying to borrow what’s left in the fund from overwhelmed banks; lenders would be required to disclose their risks from climate change.