CoastalSouth’s IPO prices at lower than expected range
Atlanta-based CoastalSouth’s initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week’s banking news roundup.
Capital One confirms Discover home equity shutdown
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
Exclusive: BECU acquires EarnUp’s generative AI unit
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp’s AI Advisor product.
Fed sanctions Wyoming bank employee for embezzlement
The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
Bond traders scrap bets on July rate cut after strong jobs data
Treasuries tumbled after a stronger-than-expected jobs report for June prompted traders to exit bets on an interest-rate cut by the Federal Reserve this month.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | JULY 3, 2025 FDIC Issues List of Banks Examinedfor CRA Compliance WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in April 2025. The […]
Funding cuts to credit counselors will devastate American communities
Federal grants funding nonprofits that help people build strong credit are being slashed. The result will be more foreclosures, evictions, bankruptcies and out-of-business signs at small businesses across the country.
Better-than-expected jobs report backs Fed’s rate stance
The Bureau of Labor Statistics issued its unemployment report for June, showing that the economy added 147,000 jobs. The report supports the Federal Reserve’s patience to cut interest rates.
Exclusive: Warren presses Fed on stress capital buffer
A Federal Reserve proposal to calculate stress capital buffers would mean that the banking system could be less likely to withstand an economic shock, the Democratic senator said.
The Fed can ignore Trump — but markets are listening
The president and his allies have stepped up their verbal attacks on the Federal Reserve and its chairman in recent weeks, and while the tough talk has not changed policy, it has sent a clear message to the financial sector.