Cadmus Credit Union agreed to merge into Chartway Federal Credit Union after one of its select employer groups said it would shutter the facility where its only branch was located due to business issues that arose from the coronavirus.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

Responding to an unnamed bank that had sought the opinion, the regulatory agency issued an interpretive letter clarifying that an institution's custody services can be used for cryptographic keys and other digital currency-related assets.

The IBM-BNP collaboration and other new developments show that high-profile breaches haven't deterred banks from using the cloud to store data.

A letter from the National Taxpayers Union requested changes, such as requiring federal credit unions to fill out a certain IRS form for non-profits, before lawmakers considered easing member business lending limits.

The online lender has already branched out into facilitating payments and analyzing cash flow for small-business customers. Its new checking account is meant to round out those services.

Commemorating the law's anniversary, the ex-president, joined by former Sen. Chris Dodd and Rep. Barney Frank, said years of tenacious GOP opposition did little to change the post-crisis regulatory regime.

The Dallas bank set aside less in the second quarter for credit losses than analysts expected. Executives cited action in Texas and California to reverse reopenings and said they're still committed to the oil and gas business.

Kyle Hauptman pledged to focus on capital reform and expanding access for the underserved if confirmed to the credit union regulator's board, but one senator questioned whether the nominee was even qualified to serve.

Many bankers want to focus more on the forgiveness process, assessing the status of deferrals and pursuing traditional lending opportunities.

The Georgia company warned that outstanding loans could fall and deferrals will likely rise as its home state and Florida grapple with the pandemic.

Loans to retailers and hotels are at the highest risk of default, the Salt Lake City company said in its second-quarter earnings presentation.

Eric Grover, principal at Intrepid Ventures, talks to PaymentsSource senior editor Kate Fitzgerald about how the high-flying German fintech fell to scandal — and whether it could happen again.

The credit union regulator can accomplish so much more when board members work in a good-faith, fair-minded manner. It needs to renew that attitude.

The national conversation around systemic racism has compelled large banks to withdraw support from the “disparate impact” proposal. But community banks maintain that the proposed reforms would reduce frivolous claims.

The OCC is proposing steps for determining which party is the "true lender," which affects how the agency oversees such arrangements.

United Methodist Federal Credit Union is set to become Interfaith Credit Union. It is also planning to absorb a small South Dakota-based institution with a similar field of membership.

The White House's efforts to loosen equality requirements in lending run counter to the widespread demand for racial justice. Congress must act.

The streak of strong gains for new members was flagging by the end of 2019 and has only worsened since then.

Securities laws, in spite of their shortcomings, exist for very good reasons: to regulate the fair exchange of units of ownership, to protect individuals from fraud or exploitation and to identify bad actors and hold them accountable.