Banking

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.

Infinity FCU sought out a merger partner after realizing that even at $338 million in assets it was too small to provide the technologies members wanted. It could be a harbinger of more deals among larger players.

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.

The agency's "no-action" letter is intended to provide more regulatory certainty for the bank after it announced a short-term credit product available to checking account customers next year.

Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.”

The region now leads the nation in virus cases, and with winter lurking the fear is that the outbreak will only get worse.

If the deal is approved, the $6.4 million-asset credit union would drop its federal share insurance upon joining Towpath Credit Union.

Bank shares fell about 5% on concerns that the election results militate against more government stimulus; even U.S. regulators need to address the differences between fintechs and banks.