Small Virginia bank optimistic it will avoid delisting
Primis Financial had to delay several reports to the SEC due to an accounting misclassification error, which raised the possibility that the bank’s stock would no longer trade on Nasdaq. Executives say they’re “optimistic about putting this behind us.”
Fed’s Kugler: Immigration, productivity behind strong economy
Federal Reserve Gov. Adriana Kugler credited immigration and rising productivity for the U.S. economy’s resilience while emphasizing vigilance against risks to inflation and employment stability.
Joint Press Release: Federal Bank Regulatory Agencies Seek Further Comment on Interagency Effort to Reduce Regulatory Burden
JOINT PRESS RELEASE | DECEMBER 3, 2024 Federal Deposit Insurance CorporationFederal Reserve BoardOffice of the Comptroller of the Currency________________________________________________________________ Federal Bank Regulatory Agencies Seek Further Comment on Interagency Effort to Reduce Regulatory Burden The federal bank regulatory agencies today announced their third notice requesting comment to reduce regulatory burden. The Economic Growth and Regulatory Paperwork […]
Letting crypto loose is a mistake banks will watch happen
President-elect Trump’s embrace of cryptocurrency and decentralized finance is a political gambit that has already paid off. But greenlighting crypto’s intermingling with traditional finance would create an asset bubble that would be especially painful to pop.
United Community strikes sixth M&A deal in as many years
The Greenville, South Carolina-based company said it would pay $80 million in stock to acquire ANB Holdings and its Miami-area bank.
Banks need to reclaim their position at the center of the BaaS model
The demand for embedded finance is not going away, but the initial rollout of banking as a service relied far too much on middleware providers without expertise in compliance and oversight. BaaS 2.0 must feature a more bank-centric approach.
Scotiabank misses on expenses, takes charge for Chinese bank
The Canadian bank fell short of analysts’ expectations on non-interest income partly because of a higher-than-anticipated tax rate. Scotiabank’s results also included a one-time impairment charge related to its investment in Bank of Xi’an Co. in China.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | DECEMBER 3, 2024 FDIC Issues List of Banks Examined for 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 September 2024. […]
The case for having a human crime officer in every bank
Ian Mitchell, founder of The Noble, an organization that works with law enforcement and with banks to fight human crime trafficking, explains some of his group’s recent work and why banks need someone dedicated to human crime.
20 US banks that closed the most branches in Q3
The top five banks in this list closed a net total of 175 branches in the third quarter.