Banking

Consumer advocates say "income share agreements" like those issued by Blue Ridge Bank of Martinsville, Va., and a Boston CDFI should have to comply with laws that govern more traditional credit products.

Burns & McDonnell Credit Union holds just $27 million of assets and is seeking approval to merge into CommunityAmerica, which serves the KC metro region and is the largest credit union in Kansas and Missouri.

The legislation, led by Sen. Ben Cardin, D-Md., would qualify many farmers, ranchers and self-employed Americans for more Paycheck Protection Program funds.

Mitsubishi UFJ Financial Group and Standard Chartered are among the likely bidders; less than 7% of the bank’s U.S. workforce are Black, and a little more than 3% are senior executives.

At Comerica and Synovus, higher fees from cards, mortgage banking and other sources helped to offset declines in net interest income.

The Ohio company has opened just 32 of 120 new branches it plans in the region by 2022, but those offices are making a sizable contribution to growth.

The Cleveland company had a strong quarter for investment banking as midsize companies raised capital to fund growth initiatives. Executives expressed confidence that such activity will translate into more loans over the second half of 2021.

Queensborough National Bank and Trust in Georgia is one of several banks aiming to recruit tech-savvy interns through a network of universities and fintech companies.

The new feature allows users to add thin-file spouses and teens on one account.

The new feature allows users to add thin-file spouses and teens on one account.

The company plans to shutter five locations, or roughly 12% of its network, next month.

Rhonda Diefenderfer, who has led the Billings, Mont., credit unon for 20 years, will retire in May and be succeeded by the credit unions busines vice president of business lending.

Rhodium BA Holdings said it has proposed paying a higher price to disrupt the banking company's proposed sale to DLP Real Estate Capital.

European fans are angry that the U.S. bank is financing a new “Super League” of elite teams; Ameribor hopes to compete with the Fed’s Secured Overnight Financing Rate.

Modern payment processors using AI to interpret and analyze trends and point-of-spend data can detect fraud across ecommerce in real time and provide that knowledge onwards to the bank just as quickly, says Paymentology's Abe Smith.

The SAFE Banking Act would prohibit federal banking regulators from penalizing banks and other depository institutions for providing banking services to cannabis businesses. It passed Monday night on a 321-101 bipartisan vote.

Unlike many of its peers that are plowing funds into securities, M&T has opted to wait and see if the deposits stick around before investing them in “low-return assets," said CEO René Jones.

The Methuen, Mass.-based institution's newest CEO was born in the same town and has more than a decade of experience in the credit union industry.

Wells Fargo wants to use the real-time payments network being developed by the Federal Reserve for 24/7 liquidity management. The online-only First Internet Bank aims to use it to help customers manage their bills and cash flow.

The Connecticut company has struggled to put deposits from its health savings account business to work across the Northeast. Buying Sterling Bancorp for $5 billion will provide Webster with new opportunities in a number of business lines, including asset-based lending and equipment finance.