Banking

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

With big banks largely shunning the program, small banks see an opening to grab more market share in commercial lending.

The deal for Our Community Bank comes two months after Crane agreed to acquire Community State Bank of Southwestern Indiana.

Crane Credit Union's deal for Our Community Bank comes two months after it agreed to acquire Community State Bank of Southwestern Indiana.

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

Fannie and Freddie's 0.5% mortgage refi fee might not be the last one as they seek to build capital; a federal judge agrees to freeze money the bank mistakenly paid to lenders.

Dennis Devine will have to navigate a number of issues, including economic strife and a pandemic, as he takes the helm at the $13 billion-asset institution.

A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's finances.

The Japanese conglomerate first applied for deposit insurance in July 2019 and again in May 2020.

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

Credit unions added more than $176 billion to savings balances in the first half of the year, according to new analysis from Callahan & Associates.

Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards.

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

Jelena McWilliams's term as FDIC chair expires in 2023, and she cannot be removed by an incoming president. But if Joe Biden prevails, he may ask her to stay — and if she does, governing a Democratic-majority board would be a very different proposition.

Crypto provides a new tool for underbanked consumers, Marc Grens of DigitalMint writes.

The bank is suing lenders to return $900 million they were mistakenly paid last week; the deal will put the credit card company in the online small-business lending market.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The bank has begun briefing regulators about how it mistakenly sent payments to creditors of Revlon, the financially strapped cosmetics company. Citi has also filed a lawsuit against Brigade Capital Management seeking to recoup $175 million it sent to Brigade on Revlon's behalf.

On Mar. 31, 2020. Dollars in thousands.