Banking

While national banks have remained strong during the pandemic, they are still navigating risks from a murky credit environment and other potential warnings signs, according to a report by the Office of the Comptroller of the Currency.

Todd Sheffield has announced his intention to step down from the Santa Rosa, Calif.-based institution, which he has led since 2003.

More banks are discussing the status of overdraft practices, and the industry is bracing for the potential of new regulations under President-elect Joe Biden.

JPMorgan Chase is going on the “offensive” in mortgages as home prices rise across the country, said Marianne Lake, the bank’s chief executive for consumer lending.

The industry is calling for lawmakers to extend changes to NCUA's Central Liquidity Facility and more before Congress adjourns.

Anchor Bank in Palm Beach Gardens was rescued by Bolivian investors after the financial crisis and began catering to South American clientele. Now it has agreed to buy a Broward County bank, setting the stage for its long-awaited, in-market expansion.

The Indiana company agreed to acquire Hoosier Trust, which manages about $300 million in assets.

On Jun. 30, 2020. Dollars in thousands

The new administration’s first move in financial services is likely to be a tougher CFPB; institutions look to boost corporate deposits in order to increase customer access to capital.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

While we can’t know what the post COVID-19 landscape will look like, we do know that business expenses will ramp back up, and with them, higher expectations for digital payments from both suppliers and vendors, says Wex's Jay Dearborn.

A final Senate breakdown still depends on the outcome in a few key races, but with Republicans closer to keeping power, Democrats' proposals to cap interest rates, create a postal banking system and establish a public credit reporting agency are likely dead on arrival.

The industry has an opportunity to build deeper relationships with members right now by communicating in a proactive and empathetic way.

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

The bank disclosed in a regulatory filing that it is in the process of responding to a civil subpoena from the Consumer Financial Protection Bureau. It is the latest bank to come under regulatory scrutiny for the fees charged to consumers who overdraw their accounts.

Muhlenberg Community Hospital CU said in a notice to members it needed a merger partner in part because it did not have the resources to keep up with monitoring for "cybersecurity and terrorism activities."

Integrity Bank for Business is being pursued by a group with ties to Heritage Bankshares, which was sold in 2016.

The agency said the proposed $5.3 billion deal would stifle future competition in the payments industry; following a good third quarter, European banks still face lots of challenges.