Consumer banking
Consumer banking
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Making bank buyouts work has long been a risky business. As the sudden ouster of First Niagara (FNFG) CEO John Koelmel shows, it may have gotten riskier still. Behind the perils are the complications of conducting due diligence, evaluating troubled assets, navigating regulations and pleasing dilution-averse shareholders.
March 21 -
Sens. Sherrod Brown, D-Ohio, and Jerry Moran, R-Kan., introduced a bill Thursday that would exempt financial institutions from having to send annual private notices if the disclosures haven’t changed from the year before.
March 21 -
More needs to be done to reduce the compliance burden so these banks can fully serve their communities.
March 21 -
Peyton Patterson. Cathy Nash. Al de Molina. These and other names surfaced as possible successors to John Koelmel, who was ousted this week as CEO of First Niagara in Buffalo, N.Y.
March 21 -
Examiners are noticing more competitive pricing and instances where banks are relaxing repayment and collateral requirements.
March 21 -
The Consumer Financial Protection Bureau is planning a crackdown on the interest rate markups that auto dealers add onto the cost of car loans. Although it's dealers who originate the loans, the CFPB lacks the authority to regulate them directly. Bankers fear that as a result the agency will turn its focus to holding them accountable for monitoring loans made by the dealers with whom they work.
March 21 -
Standard Chartered has been forced to retract comments by its chairman that the U.K. bank's laundering of hundreds of billions of dollars on behalf of Iran was inadvertent.
March 21 -
Dale Diederick, 1st Capital's senior credit officer, is set to take over the new role, 1st Capital said Thursday.
March 21 -
Huntington Bancshares (HBAN) has promoted a veteran executive to be its director of commercial real estate.
March 21 -
A judge in New Jersey limited Spencer Savings Bank's ability to control the process for director nominations.
March 21 -
Ally Bank said Thursday that it plans to sell a portfolio of mortgage-servicing rights to Quicken Loans for approximately $280 million. The loans have an unpaid principal balance of $34 billion as of Jan. 31 and are expected to be refinanced after the sale.
March 21 -
Yadkin Valley Financial (YAVY) in Elkin, N.C., is selling a branch to Union Bank & Trust Company in Oxford, N.C.
March 21 -
Banks often disclose the nature of their largest lending relationships in regulatory filings, and the level of detail is interesting. Here are some notable examples.
March 21 -
Quiet financial markets permit greater leverage and risk taking, helping lower volatility further — until a large shock arrives. Then, hold on to your hats… Plus: Fed raises bar on stress tests; why the exercise is an opportunity for banks.
March 21 -
PNC Financial Services Group (PNC) has named the next chief executive for its mortgage lending unit.
March 20 -
A push is on in Congress to reinstate a program that allowed small businesses to refinance commercial mortgages using government-backed funds.
March 20 -
Reps. Maxine Waters, Carolyn Maloney and 44 other lawmakers introduced a bill Wednesday to address numerous concerns about overdraft fees.
March 20 -
Cathay General Bancorp (CATY) in Los Angeles has repaid half the money it received through the Troubled Asset Relief Program.
March 20 -
Shareholders of ECB Bancorp (ECBE) have approved the Engelhard, N.C., company's sale to Crescent Financial (CRFN).
March 20 -
The current M&A cycle has its first cautionary tale in John Koelmel and his departure from First Niagara. The Buffalo bank expanded rapidly but erred in its deal for the HSBC branches.
March 20







