Financial institutions

The latest report from the American Customer Satisfaction Index reported lower scores for both industries, with credit unions recording their lowest ranking since 2011.

CIT Group over a year's time brushed off several offers from First Citizens BancShares, entertained rival bids and kept negotiating on price and board representation before striking a deal, according to a new regulatory filing.

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.

A group at George Washington University has been working to open a de novo institution to serve students, but the would-be institution faces a variety of hurdles before it can open its doors.

Technology imperatives, weak loan demand and the need for increased efficiency could put pressure on dozens of regional banks to join forces with rivals.

Global regulators are preparing to tighten restrictions on companies believed to have threatened the financial system at the height of pandemic-fueled volatility.

The Pittsburgh company is using its BlackRock windfall to execute a familiar script: buy an underperforming bank, cut costs and strengthen ties with commercial clients.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

JPMorgan Chase dropped one rung on the Financial Stability Board’s annual rankings of systemically important banks to sit alongside Citigroup and HSBC Holdings as one of the world’s three most important banks.

Temporary policy responses have mitigated problems in the short-term funding markets related to the pandemic, but permanent fixes may be necessary in some areas, the agency said in a report.

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

Integrity Bank for Business is being pursued by a group with ties to Heritage Bankshares, which was sold in 2016.

Jane Allerman-Rey, the mutual's chief operating officer, will take on the new role in January.

RockPoint Bank is on pace to open early next year. The announcement comes two weeks after Craft Bank became Atlanta's first new bank since 2010.

The company is best known for its reciprocal deposit program, but it’s finding new ways to serve banks without competing for their customers.

The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1.

The agency finalized a rule to determine which party in a loan sale is subject to regulatory requirements. Advocates charged that the move will help predatory lenders.

The Detroit company said David Provost, former CEO of Chemical Financial, will become its CEO.