Banking

Biden spending proposal would require banks to report on their business clients to the IRS; Wells, JPMorgan Chase and Citi haven’t resumed offering the property-backed lines of credit.

Incumbents have access to tons of information on consumers, but developing the means to analyze and act on it requires a strategic change, says Icon Solutions' Simon Wilson.

The Texas company kept allowances steady, citing lingering concerns over the pandemic and commercial real estate. Yet it plans to open 25 offices in Dallas after a similar expansion in Houston drove asset and customer growth.

The regional bank has renovated an office tower in downtown Buffalo, N.Y., to house 1,000 technology professionals it's hiring, retrain workers, collaborate with fintechs and overhaul everything from mortgage lending to fighting debit card fraud.

Larissa Thurston, who will also become the Massachusetts credit union's president, will succeed James Garvey, who is retiring.

Mike Butler will also become president of the de novo, which focuses on technology companies and venture capital firms.

The plan would enable lower-income homeowners to take advantage of today’s lower rates; the German bank needs to follow up on its best quarterly results in seven years.

Looming defaults and the potential for heavier regulatory scrutiny have prompted banks to pull back from the sector. Is that a good thing?

The company’s retail banking and auto-lending businesses in the U.S. generated a larger share of overall profits in the first quarter, and Executive Chairman Ana Botín and other executives unveiled expansion plans for both units.

The company, which recently acquired Radius Bancorp, still expects to lose at least $142 million this year and CEO Scott Sanborn did not provide a timeline for profitability. “We’re building this business for the long term,” he said.

The fintech credit card provider is pitching to banks the same software it uses to determine borrowers' creditworthiness. But whether banks are ready for technology that emphasizes cash-flow analysis over traditional credit scoring is open to debate.

The Arkansas bank is turning to asset-based lending and loans to venture capital and other investment groups to help fill a void created by a shortage of new, big-ticket commercial real estate deals.

The investment, tied to PNC's deal to acquire BBVA USA, was always going to be large but seemed to grow as CEO Bill Demchak got intimately involved in the discussions and the needs of communities and businesses hit hard by the coronavirus pandemic became more apparent.

Banks could be a better option than payday lenders to meet consumers’ short-term credit needs. But all the OCC’s regulation does is enable partnerships that circumvent state usury laws.

Mike Daniels has been president and CEO of Nicolet's bank since 2015.

The community banks join a growing list of banking companies closing locations as customer preferences shift to digital channels.

The Dallas company will pay nearly $54 million for a 49% stake in a lender that operates in 10 states.

The $56 million acquisition will extend Southern California Bancorp's footprint north of Los Angeles.

The bank will start the reopening process on May 17 to allow employees to transition back; only 57% of shareholders approved Wells's compensation plan, even after last year’s pay cuts.

The Massachusetts community bank, which rebranded last summer, landed on affiliate marketing as one cost-effective way of attracting choice customers to its business checking and crypto banking capabilities.