Financial institutions

The sale comes just three years after the San Francisco bank bought the platform.

Credit unions today regularly receive monies from the CDFI Fund, but it wasn't always that way. Here's a look back at the last quarter-century and the progres that still needs to be made.

Cost cutting and systems integrations are short-term priorities, but over time CEO Kelly King and his heir apparent, Bill Rogers, will have to exploit the combined BB&T-SunTrust's revenue potential and prove the biggest post-crisis merger was a good idea.

The company will merge Fidelity Savings and Loan and Washington Savings Bank into its own bank.

A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

Her comments signaled cooperation between the two agencies on a coming proposal to revamp the Community Reinvestment Act, but she raised questions about CRA assessment areas and developing a single compliance metric.

BB&T has said the outage, which blocked customers' account access for hours, cost it about $20 million.

These community development-focused banks need tailored regulations to expand their purpose in helping underserved areas.

The company will enter three counties in its home state after it buys Roselle.