Banking

Lawmakers this week will continue to discuss extending the Paycheck Protection Program, and the National Credit Union Administration is scheduled to hold its monthly board meeting.

Walter Kaczmarek, who ran the bank from 2005 to 2019, will also serve as interim president following the retirement of Keith Wilton.

The Indiana company said the move reflects a need to cut costs and customers' increased preference for digital channels.

The payments processor is now the most valuable private tech company every, surpassing Facebook; some investors are not happy that the bank raised bonuses and CEO pay by 46%.

Acquisition-hungry Stearns Bank has been fielding so many calls from would-be sellers that it has brought in a merger specialist to sort through them.

The nation's second-largest credit union is thanking all full-time employees for their work since COVID hit. But even as vaccinations ramp up, remote work will be the norm for several more months.

Harmening, set to take the helm of Associated Banc-Corp next month, is being asked to replicate the digital transformation he led at Huntington Bancshares. His career path is a signal to the industry’s rising stars that the road to the corner office includes hands-on technology work.

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit union securitizations nearly four years ago.

Mark Kelly will step down next month as president and CEO of the Oklahoma City-based institution. He will be succeeded by the credit union's executive vice president.

CEO Solomon says there are challenges but a good chance it can meet its goal; Chase Home Lending will expand a program that provides $5,000 for closing costs and down payments in majority-Black neighborhoods.

A longtime fixture in the industry, Teresa Freeborn succeeds GWLN founder Susan Mitchell as chair of the group.

There are signs that participation in cardholder loyalty offerings is slipping. Credit unions must reengage members if they hope to retain those accounts.

The $21 million deal would combine Feather River Bancorp, a small bank with deep local roots, and Plumas Bancorp, which has deeper pockets and a broader array of products and services.

The bill introduced by Rep. Patrick McHenry, the top Republican on the Financial Services Committee, would expand CFPB authority to the credit reporting industry and require that certain adverse information be removed from a consumer’s credit history.

Juan Fernandez Ceballos will take the helm at the state league following Paul Stull’s retirement this summer.

The company is anticipating at least $175 million in losses in 2021, but its recent acquisition of Radius Bancorp will reduce funding costs and allow it to develop a full gamut of banking products that its CEO says will eventually yield big profits.

Biden’s CFPB and SEC choices move to the full Senate following mostly party-line banking committee votes; the bank is making a 10-year commitment to channel capital to benefit Black women.

The social media platform skews toward a more youthful demographic, while credit unions' average member age has been stuck in the late 40s for decades. But even institutions that use it have concerns about security.

M&T Bank, Citizens Financial and Huntington Bancshares are playing it safe even as some of their counterparts have started to trim allowances in response to government stimulus efforts and rapid progress in the rollout of the coronavirus vaccine.

Legislators expressed concerns that thousands of pending applications are stuck in limbo just weeks before the Small Business Administration is legally required to stop accepting them.