Banking

The San Diego bank first considered finding a buyer two years ago and had offers in early 2019. The price of the deal it finally reached in the throes of the pandemic was much lower than some earlier offers.

The results of the latest exams will be released for each of 33 big banks; the Fed will announce by the end of this month if it will cap fourth quarter dividends and prohibit buybacks.

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it.

Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.

Small and midsize banks would pay for access to the Monit app and offer it to small-business clients as an add-on service.

The central bank reiterated its plan to allow inflation to run above 2% for an extent before raising rates; the German bank postpones returning people to its New York City office until next July.

Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics.

With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.

New analysis from CO-OP Financial Services showed credit union members veering closer to traditional card usage, but the lack of additional pandemic relief could hamper interchange growth this fall.

Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.

Top Senate Republican says the Fed nominee doesn’t have the votes but aren’t throwing in the towel yet; the bank’s stock is down 12% this week amid news of a large risk systems upgrade.

Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies and hold off on moves like branch closings to better gauge which changes in consumer behavior will stick.

The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook.

Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more.

The two biggest U.S. banks trimmed expectations for net interest income as low rates and tepid loan growth weigh on revenue.

A survey conducted by Harris Poll and commissioned by Plaid found that 60% of U.S. adults are using more apps to manage money since the onset of the pandemic.

JPMorgan Chase added a half dozen executives, including Thasunda Brown Duckett, to its operating committee in the biggest expansion of its top leadership group in years.

Originations in the third quarter are on pace to double what the Detroit lender reported a quarter earlier, adding more high-yielding loans to the balance sheet.