Banking

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.

Democratic leaders in Congress want to extend the interest rate limit applying to service members to all consumers. Republicans and industry representatives warn such a broad restriction will hamper lenders' ability to price risk.

Two upstate New York credit unions are combining to create an $8 billion-asset institution, continuing a trend of bigger deals driven by a need to match the scale and technological capability of rival banks.

The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.

Democratic proposals to offer free accounts, restrict overdraft fees and cap interest rates have zero chance of passage. But analysts say lawmakers’ push for products that help consumers is influencing some banks’ decisions to institute reforms on their own.

Borrowers with Paycheck Protection Program loans of up to $150,000 will be able to apply for forgiveness directly through a government portal if their lender opts in. Industry representatives welcomed the move.

Flagstar’s main business is lending to nonbank mortgage lenders, and New York Community Bancorp CEO Thomas Cangemi has a plan for tapping those borrowers to drive loan and deposit growth.

The high cost of living in the state's bigger markets is limiting growth and turning off buyers. CVB Financial and TriCo Bancshares found sellers in the more affordable cities of Visalia and Bakersfield.

The pandemic created a new expectation that banks should show empathy for customers in crisis. Let’s keep it that way.

The very smallest banks, whose numbers shrank during the financial crisis, were most likely to express concern that the housing market will imperil the broader economy.

Wintrust has developed a specialty financing insurance premium payments for companies and individuals while PacWest and Signature Bank are meeting strong demand for loans to venture funds that invest in technology firms.

Community banks, which rely more on the charges than their larger counterparts do, were instrumental in staving off new regulation during the Obama era. But much has changed since Democrats last held power in Washington.

Paris Chevalier, who will lead the California credit union, comes from University & State Employees Credit Union in San Diego.