Savings-first payments platform finds favor with travelers
Accrue Savings’ merchant-specific savings accounts, originally pitched as a way for consumers to fund major furniture and jewelry purchases, is finding a new market with vacationers.
Republic Bank rides small-ticket leasing wave with new acquisition
The Kentucky company says its newly purchased equipment financing unit will strengthen its presence in the market for leasing office furniture, computers and other lower-cost essentials that customers will still buy in an unpredictable economy.
The Federal Home Loan Bank System must stay open to large institutions
Limiting large-bank access to the system could have an unintended negative impact on smaller banks.
Goldman breaks its own rule to flag results much worse than rivals
To avoid a third straight quarter of disappointing investors on earnings day, Goldman executives have been actively downplaying expectations for results that will be disclosed next week.
Laurentian Bank starts strategic review, possible sale
The Montreal-based bank reportedly hired JPMorgan Chase to consider its options.
Canada proposes tougher bank capital rules on extended mortgages
Canada’s banking regulator is proposing to make it more costly for lenders to accommodate mortgage borrowers who stretch out their loans in an effort to limit housing-market risks in the financial system.
What’s keeping community bankers up at night
They’re wary of deteriorating economic conditions and the bite higher interest rates could take out of profits, according to the latest index of small-bank executives’ sentiments by the Conference of State Bank Supervisors. The index fell to its lowest level since it was created in 2019.
These banks help employees with their student loans. More could follow.
Ally, Truist, Citizens and SoFi are among the banks that offer student loan repayment benefits. The recent Supreme Court decision striking down President Biden’s loan forgiveness plan could give a leg up to companies that provide such assistance to their employees.
BlockFi settles with management over crypto lender’s collapse
Management, in exchange, has agreed to assist company lawyers in potentially lucrative actions against firms they blame for BlockFi’s collapse including FTX and failed crypto hedge-fund Three Arrows Capital.
Market volatility undoes First Guaranty-Lone Star deal
Louisiana-based First Guaranty Bancshares will no longer buy Lone Star Bank in Houston after its stock price has plunged roughly 49% this year.