Banking

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.

Legislation the president signed this week will extend the deadline for the Paycheck Protection Program to May 31 from March 31, giving businesses two additional months to apply for loans.

United Neighbors Federal Credit Union holds just $4.4 million of assets, but the addition will help broaden SeaComm's branch network and expand its member base.

The National Credit Union Administration issued only one prohibition order in March, barring a former branch manager of Greater Iowa Credit Union in Ames from working in the financial services industry.

The Treasury Secretary is reviving the Financial Stability Oversight Council, leading her first meeting Wednesday; the bank cited the availability of Covid-19 vaccines for its decision.

As the digital transformation journey accelerates the need for more collaborative, agile and tailored solutions between banks and fintechs becomes essential, says MYHSM's John Cragg.

In an enforcement action that could have reverberations across the sector, the Fed imposed tough penalties on a pair of Wyoming bankers who took confidential information to their new employer.

Business First Bancshares is counting on its acquisition of Smith Shellnut Wilson to help it offer more advisory services to commercial clients.

The banking and credit union industries opposed the Illinois Community Reinvestment Act, but they were largely shut out of a process that moved quickly amid a nationwide reckoning on racial inequality.

The credit union has made a four-year commitment to support the 1921 Tulsa Race Massacre Centennial Commission and Greenwood Rising, a local history center.

John Janclaes spent more than 15 years at Partners Federal Credit Union but has moved on to help launch a new credit union service organization from Nymbus.