The bank also agreed to pay a $5 million fine to settle allegations that it overcharged consumers between 2010 and 2013.
Spirit of Texas Bancshares has agreed to buy Comanche National. This would be Spirit's first acquisition since going public earlier this year.
Despite some green shoots in key credit segments, total loan growth was light at many banks last quarter. Rate hikes are threatened, and deposits will get pricier — where will the earnings come from?
Goldman’s next CEO pushes for more women in senior roles. Fifth Third’s program to retain new moms is working. And there’s good news and bad news at Bank of America, as it bulks up on female summer interns but pays out millions to an exec fired over sexual harassment claims.
The federal bank regulators are considering roughly a dozen new rulemakings in response to the bill rolling back certain sections of Dodd-Frank.
The online lender hires Ronnie Momen from GreenSky as its chief lending officer; aggregators back Capital One in dispute with Plaid; bank CEO who gave mortgage to Paul Manafort uses fire-and-hire maneuver to reap windfall at taxpayer expense; and more from this week's most-read stories.
Avidia Bank collaborated with Exhibit 'A' Brewing to produce and sell an IPA as part of a plan to boost marketing to millennials.
Citi and other banks are investing in automation aimed at speeding up the old-fashioned process for institutional clients' receivables and payables.
The Birmingham, Ala., bank also saw lending decline in the quarter as strategic reductions in certain business lending lines offset gains in C&I and consumer.
That helped push total lending growth to 3% and contributed to strong second-quarter earnings at the Providence, R.I., company.
State Street said it would suspend a share repurchase program and issue common and preferred stock to pay for the deal.
The company will no longer originate indirect auto loans outside of Florida and Georgia.
The company has created a municipal group that wil focus on non-public financing services at a time when loans to bond issuers are declining.
The agency’s consumer complaints database must remain available to the public to help prevent further abuses.
The Atlanta bank's online consumer lender and credit cards showed strong growth, and CRE lending rose substantially.
Kathy Kraninger emerges “unscathed” in testy Senate confirmation hearing; the bank is reportedly refunding money it charged customers for add-on services.
Credit card and auto loans grew again in the second quarter at the McLean, Va., company, and the net charge-off rates of both business lines fell, too.
Readers weigh in on the Federal Housing Finance Agency's leadership structure, react to a recent data-sharing debate, opine on whether banks should let consumers use their credit cards to buy bitcoin and more.
To improve video conferencing adoption, banks are advised to focus on one particular group of clients.
It may be unprecedented, but it was hardly surprising. Still, it comes at a dangerous time for the Fed. Here’s why.
The bank had numerous warnings that there could be severe regulatory consequences related to deceptively advertised add-on products. It is paying the price for failing to do more in response.
The bank announced plans to open 100 to 125 branches in fast-growing cities across the Southeast, and will close an equal number in the Midwest. In a way, it's finishing a plan it cooked up nearly two decades ago.
The House appropriations bill would also expedite the appeals process for CFPB examination decisions and reduce the number of times big banks must submit resolution plans to every two years.
Brentwood Bank’s agreement to buy Union Building and Loan would give Brentwood a larger presence around the Steel City.
While the regulatory environment is more accommodating for big deals, many regionals still have their reasons for staying on the sidelines.
The nominee to run the consumer bureau endured tough questioning over the administration’s family-separation policy but appeared to weather the barrage.
Assets under custody and administration surged to a record high of $33.6 trillion, the trust bank said in its second-quarter report.
The bureau determined that Triton Management Group had unfairly charged Mississippi consumers excess interest in violation of state law.
A multimillion-dollar deal between Chicago Mayor Rahm Emanuel and Stephen Calk, the man who would later become Paul Manafort's banker, was supposed to deliver 400 new jobs to the city. Here's what really happened.
The Los Angeles company, which focuses on Korean-Americans, aims to raise $50 million.
About 15% of Walmart’s workforce is budgeting and taking pay advances through the app.
Debates on the issue often focus on how lending decisions affect certain demographic groups, but those analyses tend to ignore an important factor: default rates.
An uptick in lending helped to offset declines in both service charges and mortgage banking fees at the Cincinnati company.
A tempered forecast overshadowed solid second-quarter results at the North Carolina regional bank.
The Cleveland company reported higher investment banking income and kept many expense items in check during the second quarter.
The Fort Worth, Texas, company will be competing in a segment of the U.S. card market that has grown more competitive in the last few years.
The agency creates “regulatory sandbox” to help develop products, including crypto-based ones; FSOC agrees bank’s failure wouldn’t wreck the financial system.
Brad Leimer, venture capitalist and former head of innovation at Santander and Mechanics Bank, shares his top picks.
The Dallas bank reported sizable growth in business and mortgage lending in the second quarter, but it more than doubled its provision for loan losses to cover four credits that went into nonaccrual status.
Paul Watkins served as chief counsel for the Arizona AG's 150-person civil litigation division and also headed up the office's fintech initiatives.
Analysts had expected the New York-based firm to boost its forecast as consumers increased spending on its cards.
Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30.
Kathy Kraninger, President Trump’s pick to run the CFPB, will testify before Congress on Thursday in what is likely to be a defining moment for her nomination.
PeoplesBancorp in Holyoke, Mass., has agreed to buy First Suffield Financial in Connecticut for $60 million.
The recent decision involved sales taxes, but Wells Fargo recorded a net expense of $481 million under the assumption that it will also lead to higher state income taxes. Other banks may have to follow suit.
Large card issuers began banning cryptocurrency purchases on their cards in February. But fintechs are allowing consumers to purchase and invest in digital currencies, and they say the risk is minimal.
The Minneapolis company plans to expand to new retail markets through a digital platform, but it’s facing questions about how it will distinguish itself from peers.
OneUnited in Boston recently issued a debit card supporting immigrants, taking a public stand on a divisive national issue.
The regulatory relief law raised the asset threshold for banks to face tougher standards to $250 billion, but the Fed has discretion to retain standards for some smaller companies.
Repayments on acquired residential mortgage loans were the main reason, but other bottom-line boosters more than made up for that, the Buffalo, N.Y., bank said in reporting second-quarter results.
The big custody bank's fees surged on new business gained from its deal for UBS business units in Europe.
The Minnesota company's profits rose by double digits despite some challenges in the second quarter, and its CEO says it will be expanding its digital offerings to simplify banking for customers.
The Financial Stability Oversight Council has proposed to de-designate Salt Lake City-based Zions Bancorp as a systemically important financial institution under the Dodd-Frank Act.
Just before members were removed from the consumer advisory board last month, acting Director Mick Mulvaney signed an amended charter that would shrink the panel to six members.
Banks should more widely adopt application programming interfaces for sharing customer data with third parties because it's the best approach to ensuring information stays safe.
The Mississippi company said it has recorded most of the expected charge-offs tied to the last severe decline in oil prices.
Goldman’s new CEO is expected to instill more corporate discipline; second quarter earnings jumped nearly 40% compared to a year earlier on higher revenues.
The New York-based online lender is turning to two European banks to fund loan growth in its overseas markets.
Anchor will sell itself to FS Bancorp after agreeing to terminate a deal with Washington Federal. The original deal had been delayed as Washington Federal dealt with BSA issues.
With ruling in GSE case, the two agencies are emerging as the test subjects for a legal showdown over their authority.
The Senate voted 66-33 to approve Federal Reserve Vice Chairman for Supervision Randal Quarles for a full 14-year term on the central bank's board.
Comerica faced aggressive questioning Tuesday about how it could use freed-up capital now that it’s no longer considered a systemically important financial institution. It won’t be the last small regional to get such a grilling this earnings season.
Organizers of Gainey Business Bank, a bank planned in Scottsdale, received approval from the state's banking regulator to raise capital while completing a charter application.
Other aggregators came to the bank's defense, while one CEO suggested Plaid's very public protest was unfounded.
Matthew Prosseda, former president and CEO of First Keystone Community Bank, was hired by Kafafian Group to advise banks on strategic planning.
With Walmart reportedly weighing bids from Capital One alongside incumbent Synchrony Financial to handle its private-label credit card account, Synchrony's use of data and artificial intelligence are more important than ever.
The appointment of David Solomon, who will take over for retiring CEO Lloyd Blankfein, has not altered the bank's aggressive plan to build a mobile phone-based bank for consumers in the U.S. and beyond.
The company, which is dealing with a lawsuit from the Federal Trade Commission tied to certain fees, hired Ronnie Momen from GreenSky as its chief lending officer.
The central bank has encountered criticism for allowing three banks to direct funds to dividends and buybacks even though their capital levels fell below required minimums.
As part of a capital-formation bill, House lawmakers are attempting to sprinkle in a handful of provisions to ease the industry’s burden.
It ties checking accounts and cards to gamimg and other apps to provide automated savings.
The North Carolina city lost all its locally owned banks, but a fintech push and more favorable economics for de novos could lead to an entry-level resurgence.
The Los Angeles company's second-quarter profit also benefited from last fall's purchase of CU Bancorp.
Declines in corporate banking and energy loans were part of the reason, but the Dallas bank reported strong earnings growth thanks heavily to fatter margins.
A federal appeals court in Texas agreed with Fannie Mae and Freddie Mac shareholders that the FHFA, led by a single director, violates the separation of powers.
The regulatory relief law passed this spring contained a measure to stop synthetic fraud, but the provision is incomplete.
One-time items included $43.2 million of second-quarter expenses related to the Capital Bank acquisition, but First Horizon executives forecast sizable savings from the deal.
Consultants Jo Ann Barefoot and Henri Arslanian explain why fintech startups have turned taken on compliance challenges.
After he takes over as CEO Oct. 1, Solomon has some key executive appointments to make, and observers will keep a close eye on the resources he devotes to help the bank accomplish its target of $5 billion in new revenue opportunities by 2020.
David Solomon is officially named as Blankfein’s successor; the British bank is under pressure from an activist shareholder to boost its stock price.
Barclays, Morgan Stanley, True Positive and other firms are turning to the technology for simulations and problems that demand large quantities of computing power.
The chairman of the Federal Reserve is testifying before Congress this week, where he will likely face tough questions about the agency’s decision to let two banks slide on their stress tests late last month.
Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide.
The New York bank, which is part of Leumi Group in Israel, is enter a new business line after spending years improving its infrastructure.
The Bank Policy Institute was formed following the merger of The Clearing House Association and the Financial Services Roundtable
Limited acquisition opportunities remain in the state's hottest markets, which will force buyers to pay bigger premiums or pursue deals elsewhere.
On Mar. 31, 2018. Dollars in thousands.
On Mar. 31, 2018. Dollars in thousands.
P. Byron Defoor, who already has majority stakes in two community banks, is planning to buy First Columbia Bancorp.
On Mar. 31, 2018. Dollars in thousands.
Rather than ban screen scraping, financial institutions should improve secure account connectivity so that consumers can share data with the apps they want to use.
Loans in that business climbed 6.6% compared with a year earlier as Bank of America's overall profits rose by 33%.
Succession plan could be formalized this week; bankers may be getting nervous about extending construction loans.
The struggling Frankfurt-based bank expects to report net income of $468 million when it issues second-quarter results nine days from now, but it's unclear exactly where the earnings beat is coming from.
Executives at the recent In|Vest conference discussed ways to make banks more competitive in the world of financial advice.
Bank of America has agreed to pay a multimillion-dollar sum to settle a defamation claim brought by former executive Omeed Malik, who was fired by the bank earlier this year, according to a person familiar with the matter.
For years, Bitcoin believers have tried to distance the digital coin from the perception that it's only used for criminal activity. New insights into Russian meddling in the U.S. election aren't helping.
Price competition on deposits may finally force the largest banks to pay up, and consumers’ aggressive use of rewards and promotional rates is weighing on card income. And then there are those tariff fights that could hurt global clients.
The unit’s profits plunged in the second quarter as the company contended with the fallout from overcharging wealth management clients. Was it a blip or the beginning of a long-term problem?
Flagstar Bank raids Regions for its director of retail banking; prosecutors allege bank CEO got access to Trump in exchange for approving Paul Manafort mortgage; a potential turning point in fintech regulation; and more from this week's most-read stories.