Stop letting credit unions buy community banks
Congress needs to take immediate action to reform policies that foster this trend and ultimately subsidize banking consolidation on Main Street, writes Rebeca Romero Rainey, president and CEO of the Independent Community Bankers of America.
How a payments startup fills credit risk gaps for cannabis businesses
CTrust is providing scores specific to the legal weed business, an industry that poses a lot of challenges and opportunities for banks and other lenders.
Joint Press Release: Agencies Issue Final Rule to Help Ensure Credibility and Integrity of Automated Valuation Models
JOINT PRESS RELEASE | JULY 17, 2024 Consumer Financial Protection BureauFederal Deposit Insurance CorporationFederal Housing Finance AgencyFederal Reserve BoardNational Credit Union AdministrationOffice of the Comptroller of the Currency________________________________________________________________ AGENCIES ISSUE FINAL RULE TO HELP ENSURE CREDIBILITY AND INTEGRITY OF AUTOMATED VALUATION MODELS Six federal regulatory agencies today issued a final rule, pursuant to the Dodd-Frank […]
Alipay expands in Europe; Stripe’s valuation bouncing back
The Chinese technology giant is partnering with BNP Paribas to reach more merchants; Sequoia makes an investment offer that could boost confidence in Stripe; and more.
Cost control helps U.S. Bank boost earnings
The Minneapolis-based company reported an 18% increase in net income thanks largely to slimmed-down operating expenses. It notched modest increases in loans and deposits, while asset quality issues remained manageable.
Private data has a bigger role in reading inflation, Fed official says
Federal Reserve Board Gov. Adriana Kugler said traditional data sets are slow and sometimes outdated. She pointed to housing services as a price category that can benefit from private data.
Call centers and bank branches are major fraud liabilities
Banks reported that they have far more protections against fraud in digital channels versus branches or call centers, according to survey research.
A third term for Powell as Fed chair is unlikely — but not impossible
Federal Reserve Chair Jerome Powell’s term expires in 2026, and the chances are good that he will ride off into the sunset. But there is a path for him to be renominated for a third term, and he’s defied long political odds before.
CFO shuffle continues as Webster, Eastern name new finance chiefs
Two Northeast banks will get new CFOs next month. Webster Financial hired Neal Holland, the former CFO of the failed First Republic Bank, and Eastern Bankshares hired David Rosato, who left Berkshire Hills Bancorp last month.
Senate Banking member Menendez convicted
Should senior Senate Banking Committee member Bob Menendez, D-N.J., resign or be expelled from the Senate, it could derail key nominations — including that of Christy Goldsmith Romero for Federal Deposit Insurance Corp. chair.