Banking

On Sep. 30, 2020. Dollars in thousands.

On Sep. 30, 2020. Dollars in thousands.

Lawmakers and the credit union regulator have packed schedules this week as both groups attempt to wrap up their 2020 business before the holidays.

A group that includes the private equity firms Apollo Global Management and Blackstone Group is in talks to acquire Wells Fargo’s student loan portfolio, according to people familiar with the matter.

The two midwest regionals agreed to merge in a $6 billion deal; community banks had their "best year ever," in large part from the "government money that passed through banks on the way to households and businesses."

The architects of two major loan deals featuring Black banks, one involving multiple lenders and a pro sports franchise and another backed by Citigroup, say more transactions like these are in the works.

The Gainesville, Fla.-based credit union has converted from a federal to a state charter and will debut its new brand identity early next month.

Ayn Talley will step down in January, to be succeeded by the credit union's longtime executive vice president.

His family got its start in banking by financing camel-caravan traders in the Ottoman Empire and eventually expanded its reach into the U.S., Europe and Latin America.

The president-elect’s plan to eliminate $10,000 of debt would help borrowers meet other loan obligations, reducing their risk of default. Yet the banking industry seems wary of the precedent it could set.

The agency's principals are scheduled to meet Dec. 15 to vote on a new definition for brokered deposits and on regulatory standards for industrial bank parents.

The credit union regulator's monthly meeting will cover the agency's budget proposal and subordinated debt, among other items, along with taking another shot at an overdraft proposal that was rejected earlier this year.

Anna Lo, a former NCUA examiner who previously led Pacific Transportation FCU, will take the helm next month, following the retirement of longtime CEO Lourdes Cortez.

The events of this year transformed banking, for better or worse. Smart bankers will build on the ways they learned to do their jobs better.

The bank’s former president said he will give 1MDB clawback money to charities, not the bank; the country’s regulator said banks are resilient enough to resume limited dividends.

Their $35 million refinancing of the Atlanta Hawks’ training complex is being touted as the first time that a professional sports team has secured a loan underwritten exclusively by Black banks.

The Pittsburgh company also sold a portfolio of indirect auto loans and repaid a large amount of Federal Home Loan Bank borrowings.

To get the word out to the Indian and Asian immigrants it's targeting, OnJuno is using social media influencers that include a well-known Japanese-American chess player and running ads during streamed cricket matches.

The emergence of vaccines has boosted travel forecasts — and crude prices. The expected bump at the pump could help oil and gas companies get back on track with loan payments.

The process will see the state's largest credit union split its president and CEO roles until longtime chief executive John Reed retires in January 2023.