Financial institutions

The National Credit Union Administration approved a rule expanding institutions' access to nonmember deposits, but observers say it's unlikely to lead to a massive influx of new funding – at least for now.  

While layoffs at big banks get the headlines, small and midsize lenders are also trimming payrolls in response to lower rates and fears that a recession is getting closer.

Don Kimble assured investors Wednesday that the bank is being "very diligent" in lending to an industry some experts say is already in a recession. Echoing other banking executives, he also predicted that consumer lending would drive overall loan growth in the near term.

Ralph Babb had stepped down as CEO in April. Curtis Farmer, who succeeded him as chief executive, will assume the chairman's title starting next year.

Banco Santander Chairman Ana Botin said that more than a decade after the financial crisis, bankers and other elites remain distrusted around the world, and "as a result, political populism is ascendant."

A group affiliated with Interactive Brokers Group has filed an application with the FDIC to form Interactive Bank.

First Horizon and Iberiabank solidified their resolve after BB&T and SunTrust announced their merger. Bryan Jordan, First Horizon's CEO, says he's convinced the earlier deal is having a similar influence at other regional banks.

The proposed Verdigris Bank would rely heavily on technology, applicants say.

If elected president, Sen. Elizabeth Warren would charge large banks a fee to help pay for her Medicare-for-all plan.

Year to date through Jun. 30, 2019. Dollars in thousands.