Banking

Justice Department officials have embarked on a rewrite of antitrust policy that could waive certain requirements for community bank mergers and provide fewer advantages to large, out-of-town buyers and banks in urban areas.

Lenders press Congress to restart — and revamp — the Paycheck Protection Program; Fed corrects stress test error for Morgan Stanley, Goldman Sachs; M&T's new fintech unit rolls out first product; and more from this week's most-read stories.

First Mutual Holding has agreed to buy Martinsville First Savings Bank, which will retain its charter, brand and management team.

More consumer and commercial borrowers are paying their loans, increasing the likelihood that charge-offs will be manageable for banks despite the ongoing pandemic.

The financial industry has praised the measured approach taken in a pending regulation on permitted communications with consumers. But two recent complaints by the bureau against debt collectors reflect a potentially aggressive enforcement stance.

U.S. Bank and Regions revamped their apps with accessibility in mind; JPMorgan Chase built a branch for customers who are deaf. Such efforts can help banks appeal to more customers in existing markets.

The Liberty Lake, Wash.-based credit union has agreed to buy four branches from the Roseburg, Ore.-based bank.

When Jane Fraser takes the reins of Citigroup in February, she will have to tackle the company’s cards slump, lagging performance metrics and challenges presented by employees’ return to the office.

The plan would encourage more risk-taking by big banks, which would put the industry and taxpayers in harm’s way, write former CFPB Director Richard Cordray and Camden Fine, onetime head of the Independent Community Bankers of America.

Jane Fraser will become the first female CEO of a major Wall Street bank when she succeeds the retiring Michael Corbat in February; JPMorgan Chase plans to reopen its trading floors September 21.

Members are completing more of their banking online than ever before, forcing many institutions to rethink their strategies for physical locations.

At a time when many lenders are shying away from an industry hit hard by the pandemic, State Bank of Texas is going all in.

When Jane Fraser takes the reins of Citigroup in February, she will have to tackle the company’s cards slump, lagging performance metrics and challenges presented by employees’ return to the office.

The bank said the move will provide more flexibility raising capital and more options when it comes to pursuing bank acquisitions.

Robotic process automation is normally the province of large banks, but Extraco Banks in Texas and Carter Bank in Virginia are training bots to perform repetitive, mind-numbing tasks.

A trio of small credit unions designated as minority depository institutions have been matched with larger institutions to improve outreach to low-income and underserved consumers.

At a time when some Americans are being tempted to pour their savings into risky investments, the son of a Wall Street veteran is encouraging them to set aside more money.

A report from the derivatives agency says climate change poses “profound risks to the financial system;” the bank dismissed several people for improperly applying for Economic Injury Disaster Loans.

The pandemic and economic downturn upended most institutions' advertising plans for the year, and many credit unions have had to adjust not only their messaging but also the loan products they are promoting.