Banking

Hildene Capital, which is pressuring CIB Marine to issue subordinated debt to redeem preferred stock, has nominated two individuals to stand for election to the company's board.

The fresh funding would recrown the Swedish company as Europe’s most valuable startup after the payments business Checkout.com was valued at $15 billion.

The credit union regulator's unusual attempt to auction pricey items from a former chairman's office has revealed more about interoffice dynamics at the agency.

The Fortune 500 conglomerate has had discussions about merging Thrivent Credit Union, which operates independently of the company, into the bank if the charter is approved.

APIs and the cloud can help financial institutions reach consumers who have become accustomed to digital, says Episode Six's John Mitchell.

The sale, which is set for $2.1 billion, is part of the bank’s plan to reduce its costs; the bank hopes managing stock ownership plans will deepen its reach with tomorrow’s Silicon Valley rich.

The London company poured cold water on speculation a deal to divest its 152-branch network in the United States was imminent. But biding its time here while focusing on issues in other parts of its global operation could drive up the price in a seller’s M&A market.

Acting Director Dave Uejio said Tuesday that the Consumer Financial Protection Bureau will push back implementation of the qualified mortgage rule and may amend or revoke other Trump-era rules that have yet to take effect.

Banks lowered their loss provisions at the end of 2020, a sign they feel better about this year than last year, according to data from the FDIC. But loan balances fell for the second straight quarter and the annual loan growth rate was the lowest in seven years.

The North Carolina-based credit union appointed a new chief financial officer and a new president to its for-profit arm.

John Zmolek has been involved with the Seattle-based institution for more than three decades. A successor has not yet been named.

Yellen says the tests probably won’t lead to imposing capital requirements or limit dividends; the big banks want a global convergence in financial standards to do business in other countries.

It would ignore technical glitches plaguing the entire Paycheck Protection Program and could end up delaying loans to larger borrowers who also need relief, bank executives and their trade groups say.

Some in the industry are beefing up online educational offerings and enlisting social media ambassadors on college campuses to help recruit younger consumers.

Treasury Secretary Janet Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.

From delivering water door to door to turning offices into shelters, bankers in the state have adapted their hurricane-response plans to offer customers and employees relief from the past week's snow emergency and power outages.

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

Year to date through Dec. 31, 2020. Dollars in thousands.