Banking

Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state.

The New York company is seeding savings accounts offered by the challenger bank Goalsetter as a way to help minority communities as well as use technology to start building long-term relationships with young consumers.

Paul Marsh resigned as president and CEO of the South Bend, Ind., credit union on Tuesday after 30 years there. An interim chief has been named and the board is searching for a permanent successor.

The agency's plan would strengthen requirements that banks use a minimum amount of their real estate for the business of banking, but three grade groups say banks need flexibility in the pandemic to manage occupancy.

CUNA Mutual Group's latest Credit Union Trends Report shows consumers continue to deleverage thanks to stimulus payments and cash-out refinancing, though membership picked up slightly.

Decentralized finance, in tandem with financial institutions, could create a more efficient, convenient, wider-reaching and more secure experience than traditional finance alone, says FISPAN's Clayton Weir.

Powell says the Fed won't move forward without approval from Congress; the Fed's vice chair for supervision tells banks not to use the tainted benchmark on any new deals after this year.

In-person branch use will continue, but retail banks should nonetheless double down on building intuitive, easy-to-use mobile experiences that drive customer satisfaction and brand loyalty.

Large banks that counted on airline and hospitality points to drive loan growth in the credit card business are anticipating renewed demand once safety concerns subside. But they’re also cautioning that the recovery in travel spending is likely to be gradual.

Banc of California, which last bought a bank in 2013, has agreed to pay $235 million in stock for Pacific Mercantile, which is based in Costa Mesa, Calif.

The depositor-owned banks are discouraged from participating in the Emergency Capital Investment Program because they can't issue preferred stock to back loans for underserved communities. It's another reason to overhaul their capital rules, mutuals argue.

Early in the pandemic, Michigan's Astera Credit Union realized that if it could not support touchless transactions, its members were likely to go elsewhere.

Timothy Collia will step down from the Portsmouth, N.H.-based institution later this year. A search for his successor is already underway.

On Dec. 31, 2020. Dollars in thousands.

Changes to CDFI Fund regulations could make it significantly easier to raise the capital required to get a new institution off the ground.

While the Fed decided not to extend capital easing for banks, it is working on a longer-term fix for calculating banks’ supplementary leverage ratio; the agency is looking at whether the company’s debit card policies for merchants are anticompetitive.

Twelve months after the public health emergency began, executives say it forced them to reexamine where employees work, retail strategies, office layouts and more.

Early in the pandemic, Michigan's Astera Credit Union realized that if it could not support touchless transactions, its members were likely to go elsewhere.

To drive the recovery we need to move beyond traditional data and models to incorporate new transaction and payment information that is more timely, more insightful, and more inclusive, FinRegLab's Melissa Koide and FICO's Larry Rosenberger write.

UMB Financial’s success in aviation financing has boosted fee income, and the Missouri company has opened an office in Dublin — a hub for airplane sales and leases that could get busier as the airline industry restructures.