Banking

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.

The agency's new policy requires collectors seeking to evict tenants to provide written notice of their rights under a federal moratorium.

Year to date through Dec. 31, 2020. Dollars in thousands.

Key legislation to protect banks and credit unions serving the legal marijuana industry looks set to move forward in the House this week.

Funds affiliated with HPS Investment Partners plan to buy Marlin Business Services for $282 million.

Trabian Technology, which builds digital products and mobile applications, is the latest in a series of technology-related purchases by MVB.

The company paid Driver Opportunity Partners nearly $10 million for the shareholder's stock and to resolve a longstanding legal battle.

Calvin Philips led the credit union – which today operates as Neighborhood CU – from 1958 until he retired in 1988, and remained active on its board long after his retirement.

The Maryland company recently raised $345 million to form the subsidiary and fund growth opportunities for its bank.

The company would gain 10 branches around Sacramento as part of the $135 million acquisition.

The New York-based Citigroup is pushing ahead to set up new investment banking and trading operations in China after announcing it would be exiting retail banking in the world’s second-largest economy.