Banking

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.

Citigroup said a full review conducted after the lender mistakenly sent $900 million to a group of investment firms concluded the bank didn’t need to claw back any pay from executives.

The Senate Banking Committee chairman told an audience of community bankers that he supports legislation to close "chartering loopholes" for industrial loan companies and financial technology firms. He also pitched a plan to give all consumers a free digital wallet backed by the Federal Reserve.

The SAFE Banking Act would protect credit unions and banks that serve legal marijuana businesses from prosecution, but anti-money-laundering compliance will always be arduous, says Sundie Seefried, the head of a new company that helps credit unions work with cannabis firms.

Large banks like Chase, PNC and U.S. Bank were seen as having more resources to devote to customer relief and upgrade digital channels that consumers came to rely on, according to a J.D. Power survey.

Several big investors say they will oppose reelection of several board members at Friday’s annual meeting; Aberdeen is hoping “Abrdn” will lift it in search results.

The quick adoption of financial technology, coupled with remote work, requires firms to focus on internal innovation as well as customer-facing advancements.

The Missouri company announced the deal just five months after buying Seacoast Commerce in San Diego.

At first the deal seemed an unlikely marriage of two mortgage-heavy companies. But acquiring the Michigan company would help New York Community accomplish its two chief goals — reducing deposit costs and its concentration of multifamily loans — while giving it the scale to pursue more deals.

On Dec. 31, 2020. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.