NAFCU, CUNA credit union trade groups agree to merge
The governing bodies of the National Association of Federally-Insured Credit Unions and the Credit Union National Association have unanimously approved a merger agreement. Members are expected to vote on the deal later this month.
Recent U.S. payment deals in China are a trickle, not a floodgate
Flywire, Visa and Mastercard all entered partnerships that anticipate a post-pandemic recovery. But politics are still keeping them from getting deeper into the market.
Credit union, fintech collaborate on tools for small businesses
Michigan State University Federal Credit Union and Nymbus teamed up to design a package of business banking tools with an eye toward credit unions, which historically have tread lightly into this space.
The new FHFA credit score rules will make buying a home harder
The decision to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit.
Redlining to remediation
Last year’s racially targeted mass shooting at a Buffalo, New York, grocery store has renewed conversations about whether banks have a duty to help segregated, impoverished communities that were shaped in part by discriminatory lending practices. What do banks owe the Black community, and what influence could they have?
Fee income was upside surprise at regionals, including Texas Capital
While noninterest revenues were higher than anticipated across the board, Dallas-based Texas Capital reported a large uptick as its investment banking platform gains momentum.
SoFi ‘glad to be back’ in student loan refi as moratorium nears end
The San Francisco company’s student loan business suffered from the moratorium on federal borrowers’ loans. But executives see a rebound ahead despite high interest rates dampening appetite for refinancing.
Will credit union M&A rebound? Two big players test the waters
A pending deal between two sizable institutions in Minnesota could mark the end of a dealmaking drought, experts say.
Why Kansas bank failure did not raise alarms for industry
Regulators noted the demise of Heartland Tri-State Bank involved an isolated problem. Industry observers cautioned against prediction of more failures to follow, saying second-quarter earnings show community banks generally remain in sound financial health.
Fed says U.S. banks tightened credit further in wake of failures
The Federal Reserve said that banks reported tighter standards and continued weak demand for loans in the second quarter, extending a trend that began before recent stresses in the banking sector emerged.