Banking

The New York-area companies' $489 million agreement runs counter to recent merger pacts built around branch cuts and more tech spending.

Some consumers have decided to stay home as celebrations have been canceled or scaled back to follow social-distancing guidelines.

The company said its plan to shutter 12 locations reflects "increased client usage of online and mobile banking and a commitment to improve digital banking technology."

Ride-hailing services and public transit were gaining ground until the pandemic struck, but the outbreak has quickly and radically changed how consumers think about buying cars.

The class A notes, secured by legacy trust-preferreds and subordinated debt of institutions, carry an investment-grade A1 rating from Moody's. That rating is slightly lower than a prior Hildene CDO, due to elevated pandemic risk to bank profitability.

The investment firm is the latest nonbank to try to enter banking through a Utah-based ILC.

Tom Pahl, a former longtime regulator at the Federal Trade Commission, has led key rulemaking efforts for the consumer bureau.

Heritage Trust Federal Credit Union will buy the bank's deposits and assume its liabilities.

Helping their customers adjust to digital banking and pay crushing bills are just a couple of ways community bankers are reaching out.

Axcess Financial is using stronger authentication, studying up on bad actors and planning to use a federal service that automates verification of Social Security numbers.

The Senate had passed the bill Tuesday, shortly before the Small Business Administration was to stop accepting new loan applications.

The Arkansas bank is selling its two branches in the state to Merchants & Marine Bancorp and FEB Bancshares.

Wells Fargo is pulling back from student lending as the surge in coronavirus cases threatens to further disrupt higher education and the broader U.S. economy.

The Main Street Lending Program is off to a slow start, while the PPP is extended five weeks to distribute the remaining $130 billion in loans; the European regulator is softening its stance to allow more deals.

The report from the regulator offers an industry-wide look at how credit unions have fared during the pandemic. Since the outbreak worsened in April and into May, credit quality could possibly worsen while earnings may sag even further.

The 2008 financial crisis transformed banking regulation. But how have those changes held up in the current recession, and what might be coming next?

The deal will create an $11 billion-asset banking company with operations in a number of markets around New York City.

Neil Dauby, the Indiana company's chief commercial banking officer, will have oversight of all operations, reporting directly to Chairman and CEO Mark Schroeder.

With stimulus money running out and forbearances set to expire, consumer spending is bound to shrink. That's bad news for business owners and their landlords, the Pittsburgh bank's CEO says.

The Paycheck Protection Program propped up many banks' balance sheets in the first half of the year, but what will drive loan demand in the second half?