Deposits

Readers react to Regions Financial's plan to replace its core deposit system, a House bill meant to curb jobs moved overseas, a resurgence of consumer complaints against the credit bureaus and more.

The National Credit Union Administration has unveiled a proposal to address a federal judge's concerns that its 2016 field-of-membership overhaul could discourage lending in low-income areas.

The company says the upgrade will support future digital investments. It also said Tuesday that third-quarter profits climbed 8% but reported a sharp increase in criticized business loans.

Ellen Alemany said that CIT's deal for Mutual of Omaha Bank will immediately lower the bank's deposit funding by 20 basis points. She also reiterated that the acquisition would make CIT more attractive to potential buyers.

An analysis of industry data shows CUs are not the leader in that space they have long claimed to be. Here's why that could come back to bite institutions later on.

The National Credit Union Administration board is expected to tackle a rule on nonmember shares this week while the House Financial Services Committee will examine Facebook's effect on financial services.

Santander Consumer is planning to attract online deposits via a national platform that could rival Goldman Sachs’s Marcus; HSBC is now in retrenchment mode after aiming for growth.

BB&T-SunTrust merger closing could slip into 2020; how “the most feared freshman” is shaking up House Banking panel; consumers are split about trusting Amazon, Google with their savings; and more from this week’s most-read stories.

They’ve long used their marketing muscle to wrest deposit share from smaller competitors. Now, amid growing concerns that the economy is weakening, they could be benefiting from consumers’ flight to safety.

The Dallas company also warned of a decline in net interest income this quarter due to the anticipated impact of Federal Reserve interest rate cuts on loan yields.

CEO Michael Corbat said he “wouldn’t rule out” building branches to keep the momentum going.

BofA’s do-no-harm approach to AI; looking at what comes next for Fannie and Freddie now that they get to keep their earnings; ruling cuts short debt collectors’ victory lap over CFPB proposal; and more from this week’s most-read stories.

A strong economy, low-cost deposits and disruption from M&A are presenting opportunities.

A combination of mutual and clashing interests has driven many players — credit unions, big banks, community banks and fintechs — to offer high-interest, digital-only savings and checking.

Community banks will likely face questions about mortgage lending, deposit gathering and M&A during earnings calls.

Many community banks are launching digital banks, more aggressively courting younger customers and abandoning the idea that only primary banking relationships are worthwhile.

More community bankers now say that cost of funds, not regulatory expense, poses the biggest threat to profits, according to a new survey.

On Jun. 30, 2019. Dollars in thousands.

CEOs have been telling investors that if the Fed continues to cut interest rates, they will lower rates they are paying on deposits to minimize the hit to net interest margins. The danger is that if they lower rates too quickly or by too much, big depositors could go elsewhere.

Geographic scale and low-cost funding are the foundation of a good deal, seasoned bank acquirers said in a panel discussion.