Banking

The agency’s second in-depth study of the community banking sector pointed to continued challenges for local institutions from the pandemic and other headwinds, but many smaller banks are reaping the benefits of M&A and holding their own against larger competitors in key lending categories.

Roddy has worked at JPMorgan for more than two decades. He replaces Rob Holmes, who recently left the company to join Texas Capital Bancshares as CEO and president.

Bansley & Kiener, without admitting wrongdoing, agreed to pay $2.5 million to address allegations that lax oversight contributed to the 2017 collapse of Washington Federal Bank for Savings.

Tonia Clark will leave Las Colinas FCU to take the helm of $116 million-asset Allied.

The digital-only bank is running a new promotion in which it will set up and fund, with $250, an online savings account for any baby born on New Year’s Eve.

The regulator is expected to finalize a rule this week allowing credit unions to issue subordinated debt to outside institutional investors. That's bad public policy, the American Bankers Association writes.

The company agreed will pay nearly $10 million for Sunset parent Waukesha Bankshares.

The eurozone’s conditions on resumed payouts are stricter than those announced by the Bank of England; the central bank has joined the international network on limiting climate change risks.

A pleasing look, or even allowing consumers to design their own cards, can help build brand and uptake, says Fingerprints' Lina Andolf-Orup.

A new report from McKinsey says that cost-cutting alone won’t make up for the steep revenue declines brought on by low interest rates and sluggish loan demand. “For some banks,” argues the report’s author, “mergers might be the best way out.”

The Independent Community Bankers of America had planned to hold its annual conference in Hawaii before the coronavirus pandemic hit.

Columbus Metro Federal Credit Union members will have access to more products, including commercial loan services, and 14 branches with the merger.

Fifth Third is partnering with Provide and Panacea Financial works with Sonabank in Virginia to meet the specialized needs of medical professionals who own their own practices.

The revamp of the brokered deposits framework offers relief to banks and their partners that saw the prior rule as outdated. Meanwhile, new standards for industrial loan company parents aim to clarify the bank chartering process for fintechs and other nontraditional firms.

Cardtronics has benefited from a wave of branch closings during the pandemic by partnering with lenders looking to offer their customers access to cash even when a full-scale branch isn’t available.

The community bank and fintech are offering the first live bank account and debit card that offer rewards in the form of bitcoin.

The already-struggling commercial property market may face even more problems in 2021; NatWest, joins Lloyds Bank in lowering down payments in a booming residential market.

Some credit unions that gave bonuses to front-line staff at the onset of the coronavirus outbreak may be too cash-strapped to offer similar payouts during this latest surge.

Demand for buy now, pay later (BNPL) services in the U.S. is surging as cash-strapped consumers welcome the opportunity to get instant loans minus any official credit inquiry.

The accelerating pace of branch closures is partly due to industry consolidation, according to the community reinvestment group that authored the new report.