Pinnacle, Synovus seek to sell pending merger to investors
On Thursday, the two banks disclosed a presentation that seeks to reinforce the strategic rationale behind the proposed $8.6 billion deal.
Credit building fintech launches EWA product
Self Financial sees earned wage access as the perfect compliment to its suite of credit building products. It’s the latest example of EWA being paired with broader financial wellness products.
TD Bank has shrunk U.S. assets by $48B since asset cap
The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.
Criticism of federally backed credit union lending is misguided
Community development financial institutions have a long history of providing vital economic lifelines to communities across the country. Credit unions have always been an important part of that story.
Mortgage rates hit 10-month low as Powell hints at Fed cut
The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.
SBA orders ‘its network of lenders to halt ‘debanking’
The agency says the move, which it made pursuant to a Trump directive, reverses Obama-era policies and requires banks to restore access to customers allegedly cut off for political or ideological reasons.
TransUnion data breach affects 4.4 million
The incident appears connected to recent social engineering campaigns, including attacks tied to Salesforce.
Data security is slowing bank and credit union automation
Worries that information can be kept safe is the top issue that’s holding back artificial intelligence-driven tech upgrades at regional banks and credit unions.
Cook sues Trump over ‘illegal attempt’ to fire her from Fed
Federal Reserve Gov. Lisa Cook filed a lawsuit in federal court Thursday morning seeking an injunction against President Trump’s “illegal attempt” to remove her from the Fed Board. The suit claims Trump has not demonstrated “cause” for her removal under the Fed statute.
Stablecoin custody could be the first step toward banking ‘super-apps’
Noelle Acheson points out that, while banks are unlikely to issue stablecoins, the related businesses they are likely to end up offering could set the stage for a transformation of their relationship with their clients.