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Southern Bancorp in Arkansas, which raised $35 million in capital from private investors, is out to prove that that community development financial institutions can deliver attractive returns and fulfill their missions to help the underserved.10h ago
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Industry groups have launched new programs that are expected to carry over into 2021, while others are raising new calls for Congress to tackle data security.October 19
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In an exclusive interview announcing the regulator's new financial inclusion program, NCUA Chairman Rodney Hood explains why the time was right to double down on the agency's efforts to expand access for marginalized communities.October 19
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Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.October 19
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Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.October 19
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First City Bank of Florida had suffered “longstanding capital and asset quality issues” that were unrelated to the pandemic, the FDIC said.October 16
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Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.October 16
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The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.October 16
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The credit union regulator has held back in allowing the use of derivatives but has released a proposal that would remove red tape for some larger institutions.October 15
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The Southern California-based credit union would add a fourth branch in the Cowboy State if members of the merging credit union approve the deal.October 15
