Financial institutions

The Wisconsin banking company recently agreed to subscribe to five solar gardens to trim power costs at 39 branches. The move, part of a broader sustainability push, also could benefit rural communities, Associated said.

Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.

The investment firm is the latest nonbank to try to enter banking through a Utah-based ILC.

Six of the eight regional banks that announced their stress capital buffers on Tuesday said they will need just a 2.5% cushion to weather an economic downturn. All eight said they’ll keep their dividends steady.

The online TV giant will start by moving $25 million to a fund that invests in minority-run financial institutions that serve low-income communities and depositing $10 million into Hope Credit Union in Jackson, Miss.

Eric Luse, who co-founded the Luse Gorman law firm, helped Community Bank Shares of Indiana create the first MHC in the early 1990s.

In response to the Federal Reserve's stress tests, Wells said it will lower its third-quarter distribution to shareholders. Meanwhile, JPMorgan Chase, Goldman Sachs and five other companies announced stress test capital buffers that exceed the minimum requirement.

A spike in demand has led to a bigger emphasis on innovative solutions for the digital payments market.

A spike in demand has led to a bigger emphasis on innovative solutions for the digital payments market.

Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.

In the most sweeping capital distribution order since the financial crisis, the Federal Reserve says it will prohibit big banks from buying back their stock in the third quarter and limit dividend payments to second-quarter levels.

Big firms need nimble operators to create streamlined processes that match shifting customer behaviors, says DealRockit's David Carmell

When looking back at the pandemic, customers will only remember which companies went above and beyond for them, says Adobe's Mark Masterson.

Business continuity plans should be used constantly, not just when the crisis is at its peak, says the New York Fed’s head of financial services.

Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns.

Former Comptroller of the Currency Gene Ludwig says making online lenders, credit unions and other nonbanks comply with the Community Reinvestment Act would be a powerful tool in addressing racial and economic injustices.

Business owners are changing banks at three times normal levels, a trend researchers attribute to their difficulty in obtaining emergency loans. If the forgiveness stage of the Paycheck Protection Program proves arduous, that rate could climb much higher.

JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's most-read stories.

Kennebec Savings Bank will have $1.3 billion in assets after it absorbs Kennebec Federal Savings and Loan Association of Waterville.

Kyle Hauptman, who will be nominated to fill the seat held by Mark McWatters, is a staunch opponent of the Dodd-Frank Act. That could mean more policy clashes on the board if he is confirmed by the Senate.