A Kansas credit union gives staff money for financial emergencies
Meritrust Credit Union in Wichita is giving $400 to each of its 370 employees to start or grow a rainy day fund.
Corrected: Press Release: FDIC Signature Bank Receivership Sells 20 Percent Equity Interest in Entity Holding $9 Billion Rent-Stabilized / Rent-Controlled Multifamily Loans
PRESS RELEASE | DECEMBER 20, 2023 FDIC Signature Bank Receivership Sells 20 Percent Equity Interest in Entity Holding $9 Billion Rent-Stabilized / Rent-Controlled Multifamily Loans Updated to correct SBNA Investor LLC control in the second paragraph WASHINGTON – The Federal Deposit Insurance Corporation, as Receiver of Signature Bridge Bank, N.A. (FDIC-Receiver), today completed the final […]
Press Release: FDIC Signature Bank Receivership Sells 20 Percent Equity Interest in Entity Holding $9 Billion Rent-Stabilized / Rent-Controlled Multifamily Loans
PRESS RELEASE | DECEMBER 20, 2023 FDIC Signature Bank Receivership Sells 20 Percent Equity Interest in Entity Holding $9 Billion Rent-Stabilized / Rent-Controlled Multifamily Loans WASHINGTON – The Federal Deposit Insurance Corporation, as Receiver of Signature Bridge Bank, N.A. (FDIC-Receiver), today completed the final transaction following the marketing of the $33 billion Commercial Real Estate […]
Fed’s rosier outlook could mean end of emergency lending facility
The Bank Term Funding Program, set up in response to this spring’s run of bank failures, is poised to close down in March. With the Federal Reserve now forecasting rate cuts next year, the bar for renewing the facility’s authorization could be a bit higher.
States must protect consumers from high-cost fintech cash advances
States need to think twice about allowing earned wage advance programs. They look increasingly like predatory lending.
How FedNow is a catalyst for credit union disruption
The first credit unions enrolled in the Federal Reserve’s FedNow instant payments platform say it will fundamentally change the way they serve consumers and businesses across multiple categories.
Here’s what’s worrying chief risk officers
The top risk executives at U.S. banks are still weighing the fallout from the failures earlier this year and are considering ways they can better handle risks tied to their treasury and asset-liability management.
Why consumer neobanks are making B2B pivots
Digital banking apps such as HMBradley, Greenlight and MoneyLion have either chosen or been forced to find revenue streams beyond their direct-to-consumer business lines.
Fifth Third CEO Tim Spence adds chairman title
The Cincinnati, Ohio, bank also promoted three other top executives to new roles. All of the changes will be effective in early 2024.
CFPB scrutinizes high fees and unfavorable terms of college-student cards
The Consumer Financial Protection Bureau’s annual student banking report reveals that college-endorsed financial products, including credit cards and student ID-linked deposit accounts, often impose high fees and unfavorable terms, reinforcing the CFPB’s ongoing scrutiny of potential violations of federal consumer financial protection laws.