Banking

Prices keep rising as inventory shrinks, competition grows, and credit availability tightens; analysis and interviews find Black businesses lacked access to lenders and failed to qualify for loans.

The Independent Community Bankers of America asked lawmakers to investigate credit unions' M&A activity after VyStar announced what would be the biggest purchase of a bank by a credit union.

USI Insurance Services agreed to buy Northwest Insurance Services in a deal that should close later this quarter.

Proposed legislation would amend language in the Federal Credit Union Act to make it easier for credit unions to expel disruptive or abusive members.

Alan Kaufman, who will be sentenced in June, faces up to 60 years in prison.

One in five Americans started banking with a new financial institution while dealing with economic hardships over the past year. But data suggests the relationships are tenuous and competition for customer loyalty will intensify.

Bankers are concerned that the Paycheck Protection Program could run out of money before it officially ends on May 31.

The Illinois company would gain its first two branches in Winnebago County as part of the deal.

The Texas company has agreed to acquire HubTran, which offers artificial intelligence and machine learning capabilities for the transportation sector.

The California company will gain $4 billion of low-cost deposits with its $250 million acquisition of the homeowners association services division.

Treasury secretary says more needs to be done to address vulnerabilities in the financial system; the researchers are expected to make their first progress report in the third quarter.

Brees, who recently retired as the quarterback of the New Orleans Saints, is a customer of the Louisiana banking company.

Heritage Southeast Bank in Georgia, at $1.6 billion of assets, would become the largest bank to be sold to a credit union.

Payment tech firms and challenger banks are leaning into the pandemic in a way that's gaining trust of clients, says Anvil's Mang-Git Ng.

Known for giving away its signature canary-hued Converse to employees and clients, this small API-centric fintech is poised to become a significant player in open banking thanks to parent company Mastercard and its vendor status with Fannie Mae and Freddie Mac.

The $6.4 million-asset institution was placed in conservatorship in January and is the first credit union to be liquidated this year.

Caroline Taylor, who recently ran Small Business Administration lending at Capital One, aims to expand her team at Regions, help steer borrowers into economic recovery and reach out to women and minority small-business owners who have been underserved.

Stephanie Sherrodd, who has led the Texas credit union since 2012, will leave at the end of April to pursue other opportunities.

MapleMark Bank in Dallas and the German fintech will let consumers choose from among three types of savings products including automated CD ladders that they can tailor to their own needs.

Jordan Summers, formerly the Detroit bank's chief fiduciary officer, succeeds Robert Sajdak as CEO. Sajdak recently retired after leading Credit Union Trust since its 2018 launch.