AMERICAN BANKER

Qapital's $30 million infusion a pick-me-up for savings apps

12 min 53 sec ago
The fresh funding supports the popular fintech trends of encouraging people to save money and “rebundling” alternative banking services.

Signature's taxi-loan woes in the rearview mirror, CEO insists

1 hour 8 min ago
“We know we've said this before, but we do feel we've put this behind us now,” Joseph DePaolo said Thursday.

Can a bank spend freely on tech while controlling costs?

1 hour 52 min ago
Investing in technology has been an important focus for banks. But big questions remain about these investments, including how best to pay for them.

Fed official resists taking sides in gun control-bank conflict

2 hours 27 min ago
Randal Quarles found himself in the middle of an issue that typically doesn't fall under a bank regulator's purview.

Banks need to be worried about Facebook's data-sharing debacle

2 hours 56 min ago
Financial institutions are sharing more information with third parties these days, but they need to be cautious about it.

Ally's auto finance chief to depart, triggering series of moves

3 hours 54 min ago
Tim Russi played a key role in the company’s transition away from its once-close relationship on General Motors. He will be succeeded by Doug Timmerman, a 32-year Ally veteran.

Webster's 1Q profit climbs 35% as HSA revenues surge

4 hours 57 min ago
The Waterbury, Conn., company also posted a double-digit gain in net interest income thanks to a 7% increase in commercial loan balances and a widening net interest margin.

A hotel becomes Amex's battleground for credit card rewards

5 hours 52 min ago
Major card brands have been competing to surpass each other with rewards and premium card offerings for decades, but American Express still views the premium card world as one it dominates.

Staff reductions, other cost cuts pay off at BB&T

6 hours 12 min ago
The North Carolina company's efforts to contain expenses made up for a marginal increase in revenue.

How can banks make digital more fun?

6 hours 30 min ago
Banks struggle to make their websites and apps a destination rather than a utility. Analyst Jacob Jegher offers some ideas for building digital relationships.

Home BancShares' quarterly results bolstered by big Miami acquisition

7 hours 4 min ago
The Arkansas company's revenue increased largely due to its 2017 purchase of Stonegate Bank.

Cerberus names ex-JPMorgan executive Matt Zames as president

7 hours 10 min ago
Matt Zames, the former JPMorgan Chase executive who had been seen as a candidate for Deutsche Bank's top job, was named president of investment firm Cerberus Capital Management.

Fed risks doubling down on flawed G-SIB surcharge

7 hours 38 min ago
Two recent central bank proposals may exacerbate problems with the agency’s capital surcharge for big banks.

Eagle's profit rises due to focus on adjustable-rate loans

7 hours 45 min ago
Spread income offset higher expenses during the first quarter at the Maryland bank.

Digital banking's global strides

7 hours 46 min ago
Consumers around the world are increasingly accessing banking solely through digital means, according to new global studies by Oracle and the World Bank.

New name suggests regional focus for growing N.J. bank

7 hours 57 min ago
Sussex Bank, which recently completed its first whole-bank acquisition, is rebradning itself as SB One Bank.

New deal shows that BancorpSouth's reg issues are a thing of the past

8 hours 2 min ago
BancorpSouth, which had two prior deals delayed over BSA and CRA issues, has agreed to buy a bank in the Houston area.

Acquisitions drive loan, profit gains at People’s United

8 hours 4 min ago
The Bridgeport, Conn., company said that first-quarter net income climbed 52% over the same period last year to $107.9 million.

Fee revenue rises 8% at Bank of New York Mellon

8 hours 5 min ago
The custody bank benefited from a wide range of economic forces in the first quarter

Cincinnati Bancorp crosses over state line with mutual deal

8 hours 19 min ago
The company will merge with Kentucky Federal Savings and Loan by the end of this year.

M&A, tax cuts boost KeyCorp

8 hours 32 min ago
The Cleveland company's acquisition of a boutique investment banking firm contributed to an increase in its fee income.

W.Va. merger designed to compete against bigger banks

8 hours 32 min ago
Premier Financial agreed to buy First Bank of Charleston for $33 million.

Senate moves to kill CFPB auto rule; Amex profit soars 31%

9 hours 10 min ago
Bill to end the guidance intended to fight discriminatory lending now goes to the House; card company’s push to make more loans to customers pays dividends.

Signature Bank's profits plummet on steep writedown of taxi loans

9 hours 56 min ago
The New York bank said it wrote down each taxi medallion loan to a value of $160,000. At their peak, New York City medallions were worth well over $1 million.

First stop on JPMorgan’s planned branch expansion? Washington D.C.

18 hours 28 min ago
During an appearance on the CBS Evenings News Wednesday evening, Dimon unveiled new details about the first leg of the New York company's recently announced, multi-city branch expansion.

Mortgages drive strong quarter at Texas Capital

18 hours 34 min ago
However, mortgage growth and servicing income weren't the only reasons profits rose by double digits at the Dallas bank.

Quarles suggests new Fed approach to ILCs

21 hours 6 min ago
Comments by Federal Reserve Vice Chairman for Supervision Randal Quarles appeared to contrast with past statements by former officials about the controversial charter.

Umpqua’s 1Q profits climbs 69% on surge in fee income

22 hours 53 min ago
Results were also aided by strong growth in residential construction, commercial and equipment financing.

The ‘C’ in CRA should still mean something

Wed, 04/18/2018 - 23:32
Many of Treasury’s recommendations for modernizing the Community Reinvestment Act would help financial institutions, not low-income communities.

American Express push to bolster lending is starting to pay off

Wed, 04/18/2018 - 23:13
American Express Co., long known to issue cards that had to be paid off in full every month, now wants its customers to take their time paying it back.

Why digital banks are welcoming CRA revamp

Wed, 04/18/2018 - 22:42
Online banks have good reason for wanting regulators to update the 41-year-old Community Reinvestment Act.

CBA warns Congress about overreach in robo-calling rules

Wed, 04/18/2018 - 22:21
The Consumer Bankers Association on Wednesday asked lawmakers to rein in regulations that were meant to prevent robo-calls but that the group says have inadvertently captured legitimate calls.

Tax law takes bite out of U.S. Bank cash cow

Wed, 04/18/2018 - 21:52
A sharp decline in capital markets fees at the Minneapolis company shows tepid loan growth is not the only side effect of tax reform at banks. How hard will it be to bounce back?

Does Senate’s repeal of CFPB policy put all guidance in crosshairs?

Wed, 04/18/2018 - 21:38
Passage of a resolution blocking guidance on auto loan pricing could set a precedent that allows Congress to nullify other long-past regulatory issuances.

Battle over poultry farms could spread beyond ag lending

Wed, 04/18/2018 - 21:25
An SBA watchdog's investigation into chicken farms may ensnare other small businesses.

Senate votes to block CFPB auto lending guidance

Wed, 04/18/2018 - 19:12
The Senate voted Wednesday to block guidance issued by the Consumer Financial Protection Bureau in 2013 that was meant to stop discriminatory markups on indirect loans made by car dealers.

The browser standard that just might make online banking safer

Wed, 04/18/2018 - 18:45
WebAuthn could eventually mean passwords are replaced with fingerprints and facial recognition. But how hard will it be to implement?

Nashville's first new bank since financial crisis meets capital requirement

Wed, 04/18/2018 - 17:53
Organizers of Studio Bank in Nashville have raised more than $40 million, satisfying the minimum amount set by regulators.

Alabama de novo effort receives regulatory approvals

Wed, 04/18/2018 - 17:22
Organizers of CommerceOne Bank in Birmingham must raise at least $30 million before opening.

‘Don’t let the bastards get you down’: Cam Fine says goodbye to D.C.

Wed, 04/18/2018 - 15:51
The outgoing head of the ICBA reflects on how technology and partisan politics have changed policymaking over the past 15 years.

QCR to enter Springfield, Mo., with bank acquisition

Wed, 04/18/2018 - 15:41
The Illinois company has agreed to buy Springfield Bancshares for $87 million.

Tepid fee, loan growth underlie U.S. Bank results

Wed, 04/18/2018 - 15:20
Quarterly earnings at the Minneapolis company were boosted instead by a wider net interest margin and a lower tax rate.

Senate ready to repeal CFPB auto rule; Tax cuts juice bank profits

Wed, 04/18/2018 - 14:13
The Senate is expected to pass a bill that would ax controversial guidance on loans at car dealerships; lower tax rate may have skewed year-on-year comparisons.

Hancock reports higher profit that reflected balance sheet growth

Wed, 04/18/2018 - 00:57
An increase in total loans and a lower tax rate helped the Mississippi company offset revenue it lost after selling a consumer finance business.

Small businesses hit by disaster often struggle with credit, too

Wed, 04/18/2018 - 00:15
Small businesses that experienced losses resulting from natural disaster were more likely to seek smaller amounts of financing and more likely to look at nonbank lenders than their counterparts who hadn’t suffered from natural disasters, according to research published Tuesday by four regional Federal Reserve banks.

Fulton reports higher profit on lower tax rate, loan growth

Wed, 04/18/2018 - 00:09
The company benefited from increases in residential and construction lending.

New York AG launches crypto inquiry

Tue, 04/17/2018 - 23:57
New York Attorney General Eric Schneiderman asked 13 cryptocurrency exchanges for detailed information about their operations as part of a "fact-finding inquiry."

Goldman finally reveals more of its big plans for consumer banking

Tue, 04/17/2018 - 22:39
The Wall Street giant's acquisition of the app maker Clarity Money is only one part of a long-term strategy to build a digital retail bank from the ground up.

Mercantile in Mich. reports profit despite smaller balance sheet

Tue, 04/17/2018 - 22:11
Though total loans and deposits were down from the end of 2017, management expressed optimism that things will pick up over the rest of this year.

Regionals outflanked by big banks in battle for deposits

Tue, 04/17/2018 - 21:37
The divide highlights a lingering question about how much commercial and retail depositors value cutting-edge technology over price — and whether midsize banks can keep pace with bigger rivals when it comes to tech investments.

Repeal of CFPB rule could still leave car lenders on the hook

Tue, 04/17/2018 - 21:33
As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority.

CRA needs to come off 'autopilot,' Fed's Quarles says

Tue, 04/17/2018 - 21:23
The rules to comply with the Community Reinvestment Act have become "formulaic and ossified," and must be changed to encourage the kinds of lending practices that the law was originally intended to foment, the Federal Reserve's top regulator said Tuesday.

Who needs branches? More small banks open accounts online

Tue, 04/17/2018 - 20:29
Community banks are increasingly turning to account onboarding technology to help them solve a growing problem — how to win new customers without opening physical branches.

Do multiple charters still make sense?

Tue, 04/17/2018 - 19:59
A Virginia bank's decision to pursue a charter in North Carolina puzzles some observers, given the added complexity and costs.

Mobile-based lender raises $65M to expand in developing nations

Tue, 04/17/2018 - 18:24
Tala plans to use the latest round of funding to develop new products for its customers in Kenya, Tanzania, the Philippines, India and Mexico.

New tactic in lawsuit against PACE providers: Breach of contract

Tue, 04/17/2018 - 18:14
A class action filed last week alleges that Renovate America and Renew Financial failed to provide consumer protections promised to L.A. County, that this constitutes elder abuse, and the county is complicit.

PacWest profit jumps 50% on improved credit quality, CRE growth

Tue, 04/17/2018 - 16:39
The Los Angeles bank also benefited from a reduced reliance on costlier certificates of deposit.

Northern Trust adds to assets under management and custody, raising 1Q profit

Tue, 04/17/2018 - 16:05
The Chicago custody bank also benefited from a recent acquisition of a UBS business in Europe and the lower federal income tax rate.

Pinnacle in Tenn. raises its profitability target

Tue, 04/17/2018 - 16:05
The company, which completed a major acquisition last year, said tax reform will help it generate a higher return on average assets.

Signature hires two veteran bankers to lead West Coast expansion

Tue, 04/17/2018 - 16:03
Joe Petitti and Jack Knight formerly held leadership posts at First Republic.

Warren gets scant help from Wall Street watchdogs on #MeToo push

Tue, 04/17/2018 - 15:54
Sen. Elizabeth Warren is struggling to get data that shows how bad sexual harassment might be on Wall Street.

First US Bancshares to enter Virginia with latest acquisition

Tue, 04/17/2018 - 15:50
The Alabama bank agreed to buy Peoples Bank for $23 million as part of a plan to target new Southeastern markets.

Commercial lending rises 16% at Wintrust

Tue, 04/17/2018 - 15:32
The Rosemont, Ill., bank rode loan growth, interest rate trends and noninterest-income gains to a double-digit increase in profits in the first quarter.

Scrapping CFPB auto lending rule would only lead to more discrimination

Tue, 04/17/2018 - 15:02
Lawmakers should not toss out an agency rule aimed at curbing auto dealer markups that adversely impact borrowers of color.

Wider margin, cost cuts make up for weak loan growth at Comerica

Tue, 04/17/2018 - 14:33
Profits soared at the Dallas bank as recent interest rate hikes and ongoing expense cuts outweighed weakness in the company’s loan book and in its fee income.

Quarles wants bank input on stress tests; Banks lending again

Tue, 04/17/2018 - 14:17
Fed vice chair wants to put stress test scenarios out for comment by banks; C&Is outstanding at record level in March.

Banking veteran to become executive chairman of Colo. fintech firm

Tue, 04/17/2018 - 14:02
Chris Marshall, a former CFO at Capital Bank Financial, will help Tax Guard recruit bank and nonbank clients. The firm uses technology to let lenders know if potential clients owe money to the IRS.

Fed weighs more transparency, less subjectivity for stress tests: Quarles

Tue, 04/17/2018 - 06:09
The Federal Reserve is considering allowing banks a chance to comment on stress tests before they take them and dropping any qualitative review for the largest banks’ performance, according to Randal Quarles, the central bank’s vice chairman for banking supervision.

Will the regulators speak with one voice on CRA reform?

Tue, 04/17/2018 - 06:09
The Office of the Comptroller of the Currency has been leading the charge on revamping the Community Reinvestment Act, but a big unknown is whether the other two regulators charged with carrying out the law are committed to moving ahead as swiftly on a reform plan.

Consumer groups oppose Senate repeal of CFPB auto lending rules

Mon, 04/16/2018 - 22:48
Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

Barclays is said to be sounding out clients about trading crypto

Mon, 04/16/2018 - 22:32
Barclays has been gauging clients' interest in the British bank starting a cryptocurrency trading desk, potentially joining Goldman Sachs in pioneering a new business on Wall Street, according to people with knowledge of the matter.

Changes to Volcker coming with or without House bill

Mon, 04/16/2018 - 22:11
Regulators are working to reform the rule regardless of whether a House provision streamlining authority for it is approved.

Kansas banking commissioner named for Fed community banking seat

Mon, 04/16/2018 - 21:19
Michelle Bowman, a former community banker and now the Kansas State Bank Commissioner, was one of two Federal Reserve Board nominees announced by the White House on Monday. President Trump also nominated Columbia University Richard Clarida as vice chair.

Banks and Thrifts with the Largest Portfolios of Home Equity Loans

Mon, 04/16/2018 - 21:18
On Dec. 31, 2017. Dollars in thousands.

Umpqua names Tory Nixon as its first chief banking officer

Mon, 04/16/2018 - 21:15
Previously the head of commercial banking, Tory Nixon — also a former NFL cornerback — will now oversee the bank's digital strategy.

Banks and Thrifts with the Largest Portfolios of First Mortgages

Mon, 04/16/2018 - 21:09
On Dec. 31, 2017. Dollars in thousands.

Signs of loan growth appear (if you look hard) at BofA

Mon, 04/16/2018 - 20:35
Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's numbers may do little to change their minds.

This fintech partnership could serve as template for small banks

Mon, 04/16/2018 - 19:52
New Resource Bank and P2Bi are splitting the risk and revenue associated with asset-based loans.

Blue Ridge Bank in Va. hires former Middleburg CEO for key post

Mon, 04/16/2018 - 19:47
Gary Shook, who led Middleburg Financial before its sale to Access National, has become Blue Ridge's president and chief banking officer.

Large U.S. banks scramble to meet EU data privacy rules

Mon, 04/16/2018 - 19:17
Many large internationally active U.S. banks are facing potentially hefty fines if they fail to comply with Europe's General Data Protection Regulation, which takes effect May 25 and gives consumers much more control over how their data is gathered, used and shared.

Goldman aims to diversify Marcus unit in buying fintech Clarity Money

Mon, 04/16/2018 - 18:31
The addition of a personal finance app rounds out the loan and deposit-account offerings at the online lender Marcus.

Legal expenses eat into M&T's 1Q profits

Mon, 04/16/2018 - 16:17
A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

Build an analytics strategy to prevent financial crime

Mon, 04/16/2018 - 16:08
The AML and financial crime ecosystem continues to evolve at record pace and bring new challenges.

Don't overlook women-owned businesses

Mon, 04/16/2018 - 15:48
Expanding SBA funding and providing additional Community Reinvestment Act credit could help boost female entrepreneurs.

Wells may restate earnings; Capital rule phase in

Mon, 04/16/2018 - 14:12
Bank’s earnings report notes possible $1 billion in fines; loan-loss accounting rule will be rolled out over three years.

Bank of America’s cost-cutting drive pushes profit to record

Mon, 04/16/2018 - 13:55
Bank of America Corp. hit a milestone in its years-long effort to get costs under control.

Not Obama's OCC: Agency sets ambitious reg relief agenda

Mon, 04/16/2018 - 04:02
Comptroller of the Currency Joseph Otting took office only late last year, but he is wasting little time in tackling a series of hot-button topics, including easing anti-money laundering regulations and lowering national bank fees.

Wells Fargo's latest problems go beyond potential $1 billion fine

Fri, 04/13/2018 - 23:54
The bank revealed Friday that it is facing hefty regulatory penalties and will likely have to restate first-quarter earnings. Declines in loan balances and fee income and questions about upcoming stress tests are only adding to investors' worries.

Is tax reform fueling a price war in commercial lending?

Fri, 04/13/2018 - 23:19
Bankers hoped the tax overhaul would stimulate a boom in business borrowing, but several said this week that hasn’t happened yet. PNC’s Bill Demchak warned that the tax cuts could be encouraging lenders to underprice loans.

Bankers welcome new capital proposals but want regulators to go further

Fri, 04/13/2018 - 22:34
During earnings calls, bankers welcomed the latest efforts by regulators to modify capital rules. JPMorgan Chase CFO Marianne Lake, meanwhile, called on policymakers focus on overhauling the G-SIB surcharge.

Blue Ridge Bank in Va. plans to seek N.C. charter

Fri, 04/13/2018 - 22:32
The bank, which already offers mortgages through seven offices across North Carolina, is the fourth group to announce plans for a de novo in the state.

Next-gen branches, business line exits and a dearth of reg actions: Top stories of the week

Fri, 04/13/2018 - 22:10
BofA, Citi and Union Bank map out next moves in branching; MB Financial and Regions exit business lines; a dramatic reduction in regulatory actions under Trump; and more from this week's most-read stories.

Regulators to phase in capital treatment of credit losses

Fri, 04/13/2018 - 21:28
Bank regulators propose to allow banks to phase in capital treatment of credit losses over three years

Behold the radical continuity of the Fed’s capital proposals

Fri, 04/13/2018 - 21:25
Over the past week, regulators have proposed the most substantial changes to capital requirements for the largest banks in years, but the most startling thing was how unremarkable they were.

Congress won't repeal Dodd-Frank. Why does Paul Ryan say it will?

Fri, 04/13/2018 - 20:59
Suggestions that Republicans are working to unwind Dodd-Frank could indicate a vote on a bipartisan regulatory relief bill is near.

Adjusting to new digital demands goes beyond technology

Fri, 04/13/2018 - 19:49
Banks should rethink even existing services, such as the branch experience, said top executives at the Oracle Industry Connect conference.

Surprising contributor to JPMorgan’s strong 1Q: Auto leasing

Fri, 04/13/2018 - 19:47
A 28% increase in lease assets helped offset stagnant growth in traditional auto lending.

JPMorgan’s blockchain leader switch and other women in tech

Fri, 04/13/2018 - 19:45
Amber Baldet is exiting JPMorgan Chase to start her own venture, and another female executive is taking charge of the blockchain effort. BofA makes major progress on digital mortgages and gets gun-shy after Parkland. Plus, GM’s one-sentence dress code.

It may be time to ditch those distressed credits

Fri, 04/13/2018 - 18:10
Banks have been hanging on to problem loans for various reasons, but that could create headaches when credit inevitably worsens.

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