Card issuer Bread boosts revenue outlook as late-fee rule gets stymied
The store-branded credit card company revised its revenue guidance upward on the assumption that the CFPB’s late-fee cap won’t take effect before 2025. Still, Bread is moving ahead with plans to make up some of the revenue that it stands to lose from the contested rule.
What is the cost of doing banking as a service ‘well’?
Financial institutions that entered the space before regulatory oversight intensified need to calculate whether the price of talent, risk planning and technology is worth the return.
Fulton Financial hires new CFO, UBS senior exec leaves firm
Fulton Financial taps Valley National’s Richard Kraemer as its new CFO; UBS’ veteran private banker Jenny Su has left the firm; Bank of America names Kevin Brunner head of global technology, media and telecommunications investment banking; and more in this week’s banking news roundup.
Real estate-heavy bank lays out a strategy overhaul
First Foundation in Dallas recently got a $228 million capital injection led by Fortress Investment Group. Now it’s announced plans to pivot away from its heavy focus on multifamily loans, which lost value as interest rates rose.
The need to financially mainstream Hispanic immigrants is urgent
Fostering financial well-being among the country’s fastest-growing demographic group is essential to the future of the American economy. And, not incidentally, it’s also good for business.
WesBanco strikes deal for Ohio community bank
Ending a five-year M&A hiatus, the Wheeling, West Virginia-based company has agreed to pay $959 million in stock for Premier Financial in Defiance, Ohio.
Kamala Harris’ digital dollar vision: A new era of financial inclusion?
As a senator, the likely Democratic nominee for President championed an agency that did early work on payment technology, setting the stage for a central bank digital currency.
How many credit unions acquired banks in 2024?
The trend of credit unions buying banks is a lightning rod for controversy in the banking industry. Despite this, such mergers are increasingly common.
FDIC MAKES PUBLIC JUNE ENFORCEMENT ACTIONS; NO ADMINISTRATIVE HEARING SCHEDULED FOR AUGUST 2024
PRESS RELEASE | JULY 26, 2024 FDIC MAKES PUBLIC JUNE ENFORCEMENT ACTIONS; NO ADMINISTRATIVE HEARING SCHEDULED FOR AUGUST 2024 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in June 2024. There are no administrative hearings scheduled for August 2024. The […]
Housing: The issue everyone is thinking about but not talking about
Despite being a top concern for a wide swath of voters, housing affordability has largely been absent from presidential politics.