Large Michigan credit union to join a crowded Pennsylvania market
United Federal Credit Union plans to enter the state through a merger next year, and that could be a problem for Keystone-state banks and credit unions that are already struggling to grow.
What banks really mean when they put trillions into ESG
Banks including Morgan Stanley, HSBC, Goldman Sachs and JPMorgan Chase have announced individual sustainable finance targets for 2030 that range from $750 billion to $2.5 trillion. Yet such statements leave investors with little real insight into the very different ways in which banks are defining what’s sustainable.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | DECEMBER 4, 2023 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 2023. […]
Governments are greatly exaggerating the ‘promise’ of CBDCs
In reality, central bank digital currencies would provide only some of the benefits of a real cryptocurrency and would have numerous drawbacks.
Why the community bank stock rally stalled
A small bank stock index posted its biggest gain of the year in early November before that progress faded. What will it take for investors to sustain confidence in the sector?
Rep. Maxine Waters asks PNC, Wells to put bank branches in her district
Rep. Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.
BNY Mellon raises minimum pay, offers new worker benefits
Bank of New York Mellon is hiking its minimum wage 12.5%, offering stock options to a wider range of employees and expanding well-being programs amid a tight labor market and increasing demand for employee benefits.
FDIC gives banks extra time to comment on governance proposal
Banking advocates claim FDIC’s proposed corporate governance guidelines could undermine their legal duty to shareholders, despite the agency’s claim that the proposal wouldn’t break new ground.
BMO ups Bank of the West cost-savings expectations
The Toronto-based company is now forecasting more than $800 million USD in annual cost savings as a result of its Bank of the West acquisition in February. That’s up nearly 20% from an earlier projection.
House votes to nullify CFPB small-business data rule
Republicans and a handful of Democrats in the House and Senate, which already had passed an identical bill, say the data-collection rule would be too onerous for lenders and small-business borrowers. President Biden is expected to veto the legislation.