Equity Bancshares bulking up in Missouri with $44 million deal
Equity, based in Wichita, Kansas, has agreed to buy the parent company of the Bank of Kirksville. The combined company would have $5.4 billion of assets and 74 branches, including 23 in Missouri.
Congress grills financial regulators on tech oversight
Technology representatives from the six federal agencies testified in a House Financial Services fintech subcommittee hearing Tuesday.
How two fintechs are climbing back from the downturn
MoneyLion and Pagaya, which were among the many payment companies that fought headwinds in the past two years, are using product and capital markets strategies to help them recover.
Unsecured consumer loans offer a path forward on debt reduction
Too few lenders are underwriting unsecured consumer debt, which could help borrowers pay down credit card balances with little risk to lenders.
Congressional actions necessary to stop imitation banks: Report
A report by the Roosevelt Institute argues that risks posed by imitation banks, online shadow banks mimicking traditional institutions can only be fully mitigated by an act of Congress.
Citrix software bug leads to outages at 60 credit unions
A third-party provider for credit unions failed to fix a long-patched vulnerability, according to a cybersecurity researcher who has studied the situation.
JPMorgan Chase says it’s running out of branches to close
The nation’s largest bank has already completed many of the branch closures that can boost its earnings, leaving it with “less and less accretive opportunities to consolidate,” a top executive said Tuesday.
Truist mulls a restructuring of its underwater bond portfolio
The North Carolina-based bank is considering the idea of selling a portion of its securities portfolio as a way to build capital, CEO Bill Rogers said Tuesday. At the end of the third quarter, Truist’s securities were worth about 20% less than what the company paid for them.
Press Release: Statement by the Special Committee of the FDIC Board on the Status of the Independent Review
PRESS RELEASE | DECEMBER 5, 2023 Statement by the Special Committee of the FDIC Board on the Status of the Independent Review WASHINGTON – The Special Committee of the Federal Deposit Insurance Corporation (FDIC) Board of Directors established to oversee an independent third-party review of the agency’s workplace culture issued the following statement today: “As announced […]
With McHenry to exit House, financial panel will lose its dealmaker
Rep. Patrick McHenry, chairman of the House Financial Services Committee, says he won’t seek reelection next year. He is known for collaboration with Democrats on stablecoin and other issues.