Corporate finance

The company joins a growing list of community banks paring back their networks.

Robert D. Ramirez has accepted the top job at the South Florida credit union as it attempts to turn around following a steep decline in earnings and a jump in charge-offs.

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

The moves are intended to offset a protracted period of historically low interest rates and expectations of higher credit costs in 2021.

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

The company will shutter a fifth of its locations, while reinvesting some of the savings in its digital banking platform.

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

Deal activity, already on pace for its slowest year in more than two decades, will likely remain suppressed until bankers get a handle on credit exposure and more clarity on valuations.

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.

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.

“What COVID has done for us is it has showed us where to prioritize investments,” William Demchak said at an industry conference in discussing the Pittsburgh company's plans to speed up the shift to digital banking.

The company joins a growing list of banks shuttering locations as customers flock to digital channels.

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

For all the damage from the pandemic and economic downturn, this crisis has not impacted liquidity. Lawmakers would be foolish to permanently alter the Central Liquidity Facility.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

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.

The company and its global peers have seen their profitability hurt by half a decade of negative interest rates, which effectively make banks pay for holding clients’ cash.

A new report from the National Credit Union Administration shows how hard the industry was hit during the second quarter as businesses closed and consumer spending dropped.

Several community banks that put buybacks on hold during the pandemic’s earliest days have recently authorized new plans, signaling an easing in regulatory pressure and greater comfort with capital levels.