First Busey’s new acquisition, Stax founders launch credit-scoring tool
First Busey closes acquisition of Merchants and Manufacturers Bank; Stax co-founders launch a new credit-scoring tool; UMB’s marketing chief takes on consumer banking; and more in the weekly banking news roundup.
Bank branch acquisitions gather momentum
Based on the pace of deals through late March, the banking industry is on track for the most branch sales since 2021. Buyer interest has mounted alongside the need to acquire deposits, following hits to funding bases last year.
Schumer: Banker compensation clawback, cannabis banking, on Senate docket
Senate Majority Leader Chuck Schumer, D-N.Y., tapped executive compensation and cannabis banking bills as bipartisan priorities that could see movement in the Senate in the “weeks and months ahead.”
What’s driving mobile-wallet spending at high and low values
A digital-payment trend that began during the COVID pandemic is being bolstered by features such as rewards and state ID storage.
As CFO of a billion-dollar company, I couldn’t get a checking account
In an increasingly cashless society, having a basic bank account ought to be an inalienable right. Instead, we have a system that deliberately prevents millions of Americans from making even the simplest transactions.
FDIC Chairman to Address ‘Too Big to Fail’ and the Orderly Resolution of a Global Banking Organization at the Peterson Institute of International Economics
EVENT FDIC Chairman to Address ‘Too Big to Fail’ and the Orderly Resolution of a Global Banking Organization at the Peterson Institute of International Economics Federal Deposit Insurance Corporation (FDIC) Chairman Martin J. Gruenberg returns to the Peterson Institute for International Economics (PIIE) on Wednesday, April 10, 2024, to present a comprehensive update of how […]
Will the Fed’s master account victories stand the test of time?
The Federal Reserve scored some important legal victories in lawsuits challenging its discretion to grant or deny applicants for master accounts. But whether those victories will last through the appeals process or scrutiny from Congress is uncertain.
New FDIC economic inclusion plan melds inclusion and community development
Federal Deposit Insurance Corp. Chair Martin Gruenberg said the agency would prioritize urging banks to invest in underserved communities as part of a revised economic inclusion plan unveiled Thursday.
Wyoming community bank winds down fintech program
The Federal Reserve issued an enforcement action against Mode Eleven Bancorp, the holding company for Summit National Bank, which engages in banking as a service.
In latest move, Cadence reorganizes its management structure
The Tupelo, Mississippi, company announced a management simplification plan in which several executives, including the president and the chief financial officer, are gaining new responsibilities. Most of the changes took effect April 1.