Banking

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.

Incumbent banks’ market position is underpinned by strong consumer trust and massive scale, but these historic advantages can no longer be taken for granted, Simon Wilson of Icon Solutions writes.

The drugstore chain will debut a new bank account for customers that will offer rewards tied to its loyalty program.

Thousands of customers have called OceanFirst Bank with a new set of technical questions: How do you download an app? Make a mobile deposit? Load a debit card into Apple Pay? CEO Chris Maher explains how the New Jersey company is handling the shift to digital banking.

The fallout may go beyond large losses at Nomura and Credit Suisse from Archegos Capital; the bank’s CEO is getting five more years as the stock rebounds following a massive restructuring.

Data from the National Credit Union Administration shows the two states are bucking the trend of slowdowns in membership and lending.

Over the past year, bankers have been able to sit back and field calls from borrowers eager to take advantage of low rates. Now, with rates rising, many in the industry will likely adopt a more aggressive approach.

Sam Sidhu, whose father is CEO Jay Sidhu, will become president and chief executive of Customers Bank in July.

The Cities for Financial Empowerment Fund, a nonprofit that seeks to improve financial stability of low- and moderate-income households, validated the account under its Bank On initiative.

A recent statement by acting Director Dave Uejio is the clearest signal that the agency plans to revive strong underwriting standards that the Trump administration eliminated.