Consumer banking
Consumer banking
-
The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.
May 14 -
The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.
May 14 -
Community Financial Development Institutions' mission-driven lending has traditionally been a small segment of the lending market. That's beginning to change, but plugging into secondary lending markets might not be the kind of change communities need.
May 14 -
Executives also say funding pressures have begun to ease, though high interest rates and deposit costs remain a leading worry, according to new surveys.
May 14 -
Quaint Oak Bancorp sold its majority stake in an equipment lender less than two years after the partnership helped drive record profits at the Southampton-based company.
May 13 -
Branch office deposit data is among the most confidential information at a bank, especially those with many branches. Why have regulators made this sensitive competitive data public for banks and thrifts annually for over 50 years but not for credit unions?
May 13 -
The Charleston-based company agreed to pay $267 million to acquire Piedmont Bank in Peachtree Corners, Georgia. It's United's 34th deal, but the first since 2021.
May 10 -
Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.
May 10 -
American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
May 10 -
Depositors are still flocking to online-only banking platforms offered by companies such as Ally, Capital One and Discover. But overall customer satisfaction took a "statistically significant" drop, according to a new J.D. Power report.
May 9