Deposits

Some credit unions are embracing technology that makes it easier for consumers to start the notoriously difficult process of changing financial institutions.

The decade-old rule, now under review, is outdated and another example of one-size-fits-all regulation, community bankers say.

Community banks are relying more on analytics, incentives and business partnerships in hopes of stemming an outflow of deposit relationships.

The loan origination fintech is offering the product in a stand-alone format and as part of the workflow for its mortgage and home equity loan products.

On Dec. 31, 2018. Dollars in thousands.

Current rules developed in the early 1990s were driven more by politics than facts.

On Sep. 30, 2018. Dollars in thousands.

Credit unions in Arkansas and Florida argue that allowing the industry to take deposits from cities and other public entities would help with funding and control for risk.

The Scarborough, Maine-based credit union also posted a more than 4 percent uptick in membership.

State law bars credit unions from accepting deposits from cities, counties and other government entities. Florida banks say it should stay that way unless tax advantages for credit unions are removed, but credit unions counter that banks are trying to stifle competition.

Big banks’ edge lies in their sizable presence in faster-growing cities, not any unfair structural or regulatory advantages, according to a new report by the Bank Policy Institute, which represents large financial services companies. Community banks beg to differ.

The small Wisconsin city features a vibrant economy, low employment and a growing population, but banks that want to buy their way into the market have their work cut out.

The FDIC should consider limiting its toughest restrictions on brokered deposits to problem banks.

Credit unions need to be thinking about pressure on net interest margins and declining revenues.

Its move into new states will allow the nation’s largest bank to pursue the loan and deposit business of more state and local governments.

For years Carter Bank in Virginia had resisted technology of all kinds — even ATMs. But a leadership change, rising rates and a thirst for low-cost deposits finally led to a change in philosophy.

Concerns about an economic slowdown, rising deposit prices and cybersecurity abound, a survey found.

A legal memo conducted on behalf of the trade group says the agency’s policy goes beyond statutory intent and places undue restrictions on healthy banks.

The answer depends who you ask, but an analysis of deposit and loan trends offers some insight.

Aspiration, Wealthfront and SoFi have all begun offering high-yield savings accounts during the past few weeks.