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Economy expanding, 2018 outlook positive, Fed says

Wed, 01/17/2018 - 23:02
The Federal Reserve’s beige book economic survey indicates economy expanding as household loan demand declines
Categories: FINANCIAL NEWS

Zelle’s anti-fraud efforts trip up key group: Its users

Wed, 01/17/2018 - 22:46
The P-to-P payments service promises to clear transactions in near-real time, but many consumers have complained that they have been unable access their money or even open accounts. Zelle has acknowledged the delays and says they are a result of its rigorous enrollment process.
Categories: FINANCIAL NEWS

Riverview in Washington prepares for first new CEO in four decades

Wed, 01/17/2018 - 22:31
Kevin Lycklama is set to succeed Patrick Sheaffer, who has led the company since 1976.
Categories: FINANCIAL NEWS

Early returns: 2018's top-performing bank stocks

Wed, 01/17/2018 - 22:14
Which large and midcap bank stocks have the most momentum? These 12 banks started the year off with the biggest bang, as measured by gains in stock price.
Categories: FINANCIAL NEWS

San Diego de novo bank sets opening date

Wed, 01/17/2018 - 21:59
Endeavor Bank, which raised nearly $27 million, will become the second new bank to open in California in the past year when it debuts next week.
Categories: FINANCIAL NEWS

Tax cuts to fuel much-needed tech upgrades at large banks

Wed, 01/17/2018 - 21:26
Executives at U.S. Bancorp and Bank of America plan to use their tax savings to ramp up spending on new technology to stay competitive — but they sought to reassure investors that they would not abandon cost control.
Categories: FINANCIAL NEWS

Liberty Bancorp to buy Lawson Financial in Missouri

Wed, 01/17/2018 - 21:10
Liberty will add a branch in Kansas City, Mo., along with three locations in nearby communities.
Categories: FINANCIAL NEWS

Mulvaney launches public review of entire CFPB

Wed, 01/17/2018 - 20:39
Acting CFPB director Mick Mulvaney issued "a call for evidence" Wednesday seeking comment on all of the consumer agency's functions, including enforcement, supervision, rulemaking, market monitoring and education activities.
Categories: FINANCIAL NEWS

Cryptocurrency a 'very critical issue': Banking panel chair

Wed, 01/17/2018 - 20:23
As senators weigh anti-money-laundering reforms, they reiterated their desire to include cryptocurrencies as part of legislative discussions.
Categories: FINANCIAL NEWS

Rethinking bill pay when there isn’t a bill

Wed, 01/17/2018 - 20:07
Providing the default card in digital subscription services is one way banks can win back bill-pay business, save customers time and help them manage their data.
Categories: FINANCIAL NEWS

HomeStreet in Seattle to face proxy battle from big investor

Wed, 01/17/2018 - 19:20
Blue Lion Capital, which had a recent request for a board seat rejected, plans to nominate multiple people to run for the board at HomeStreet's next annual meeting.
Categories: FINANCIAL NEWS

Assurance of quick close helped Ameris get a skittish seller to say 'yes'

Wed, 01/17/2018 - 19:20
Ameris, which was operating under a regulatory order when it agreed to buy Atlantic Coast, agreed to pay more money if it failed to complete the acquisition by mid-2018.
Categories: FINANCIAL NEWS

BB&T commits $50 million for fintech investment

Wed, 01/17/2018 - 18:02
The move comes at a time when banks are becoming more aggressive in acquiring or investing in financial technology companies.
Categories: FINANCIAL NEWS

Senate panel approves Powell as Fed chair for second time

Wed, 01/17/2018 - 17:15
The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.
Categories: FINANCIAL NEWS

Wider margins, one-time tax gain boost U.S. Bancorp in 4Q

Wed, 01/17/2018 - 15:24
Total loans rose 3% at the Minneapolis bank, but its net interest margin climbed 10 basis points. It also booked a one-time accounting gain of $910 million related to tax reform.
Categories: FINANCIAL NEWS

Mackinac expands in northern Michigan with First Federal purchase

Wed, 01/17/2018 - 15:24
The company is gaining heft in Michigan's Upper Peninsula with its $34 million purchase of First Federal of Northern Michigan.
Categories: FINANCIAL NEWS

B of A has ways to go to hit $53 billion cost target this year

Wed, 01/17/2018 - 15:24
Costs fell less than 1% to $54.7 billion in 2017, and its goal for 2018 is $53 billion. Analysts question whether revenue growth and tax relief will reduce the incentive to get leaner.
Categories: FINANCIAL NEWS

Citi’s $22 billion tax hit; CFPB to revisit payday lending rule

Wed, 01/17/2018 - 14:22
Write-down clears the decks for better times ahead; the agency’s acting head is looking to revamp strict rule that went into effect on Tuesday.
Categories: FINANCIAL NEWS

No, the Senate reg relief bill isn’t destroying Dodd-Frank

Wed, 01/17/2018 - 13:18
Progressives have been setting off alarm bells this week over the Senate’s bill to ease some Dodd-Frank rules, but the changes are more modest than many assume.
Categories: FINANCIAL NEWS

One-time charges overshadow higher 4Q revenue at Pinnacle in Tenn.

Wed, 01/17/2018 - 00:38
The company, which bought BNC Bancorp to enter North Carolina last year, recorded $19.1 million in merger-related expenses and an $8.3 million pretax loss tied to investment securities.
Categories: FINANCIAL NEWS

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