Banking

The agency issued a request for information to gather feedback about how institutions facilitate use of cryptocurrencies and other kinds of assets, and what factors regulators should weigh as they develop supervisory policies.

DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.

The U.S. arm of Mitsubishi UFJ Financial Group has hired nine bankers away from Wells Fargo in an effort to expand its restaurant finance group. The lender focused on the fast-casual and quick-serve segments during the pandemic and anticipates growth in that sector.

During the pandemic-induced lockdowns, the Federal Reserve loosened a rule requiring banks to cap certain savings withdrawals at six per month. Some banks have since dropped ceilings and associated fees, while others have stood pat.

The Amsterdam bank offers to directly credit a small business's invoices early after a vetting process — but before the invoice is paid.

Year to date Dec. 31, 2020. Dollars in thousands (Dec. 31, 2020)

On Dec. 31, 2020. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.

American State would be the largest bank buyout for Equity, which has acquired 17 banks since 2003.

Dean Marchessault will be succeeded by Senior Vice President Howard Brady at the East Hartford, Connecticut, credit union.

Wells Fargo analyst predicts 200,000 reductions in the next 10 years, mostly in branches and call centers; many say the regulators are overreaching.

The legislation would bar firms that receive government contracts from discriminating against firearms companies. Smaller banks have quietly dropped their opposition in hopes of gaining more municipal bond business.

Even before the pandemic, almost half of SMB customers were being turned away by their own banks for a small business loan. Enter COVID-19, and banks and credit unions are still not keeping up with the surging demand for capital, says LendingFront's Jorge Sun.

In letters to regulators and lawmakers, bankers and their trade groups argued that deals like Vystar Credit Union's proposed acquisition of a small Georgia bank could result in less community development lending and declines in federal tax receipts.

Companies from Bank of America to PlainsCapital have ditched dull webinars and found more engaging ways to train workers to show empathy to clients and explain bank programs.

Michael Butler relied on partnerships with tech startups in areas such as checking and mobile banking to turn Radius into a digital-only bank before its sale to LendingClub. As the new CEO of Grasshopper Bank, he plans to strike similar deals to expand beyond business lending.

Some banks are removing the term “sales” from training materials out of fear regulators will accuse them of unethical, high-pressure tactics. But that’s an overreaction to federal probes of extreme cases — sales are essential to growth.

The best-performing banks' revenue rose at nearly twice the rate of expenses thanks to mortgage refinancing and the Paycheck Protection Program.

The deal should allow the prepaid card issuer to expand its footprint in a business it entered seven years ago.

Christine Channels will oversee a group of branches focused on low- and moderate-income areas, according to a memo from executives who run the division.