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Community Banks and Credit Unions |
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Results 1 - 10 of 1284 |
Posted Date: Friday, April 19, 2024
The Consumer Financial Protection Bureau’s final rule restricting credit card late fees faces a resolution of disapproval which has substantial industry support. The House Financial Services Committee voted 28-22 along party lines to advance the measure to the full House for consideration.
See what various financial trade associations have to say about the resolution, as well as other recent regulatory and legislative developments. Read on »
Posted Date: Friday, April 19, 2024
Financial industry advocates are calling for federal policies to address the “skyrocketing” numbers of “pig butchering” scams. The Treasury Department’s Financial Crimes Enforcement Network and the Department of Justice have issued warnings to financial institutions and the broader public about the dangers of these types of crimes, which are often perpetrated through online channels using virtual currencies. Read on »
Posted Date: Friday, April 19, 2024
Community banks are urging Congress to consider specific revisions to the Farm Credit Adjustment Act, which is intended to aid rural credit institutions in providing critical financial support to farmers and producers throughout the country. The financial industry generally supports many of the bill’s provisions but has concerns regarding aspects applying to non-farm financing authorities within the Farm Credit System. Read on »
Posted Date: Friday, April 12, 2024
Harborstone Credit Union recently entered into the second of two bank purchase agreements in six months by agreeing to purchase Savi Financial Corp., Inc., the bank holding company for SaviBank, in an all-cash transaction. The credit union previously agreed to acquire First Sound Bank in August of last year. Read on »
Posted Date: Friday, April 12, 2024
The Consumer Financial Protection Bureau’s final rule to cap credit card late fees has met with significant pushback from the financial industry. Learn about these views and more in this roundup of takeaways from industry trade groups. Read on »
Posted Date: Tuesday, April 9, 2024
There are often so many regulatory developments to count in a given week that many get lost in the shuffle behind more prominent issues. Here is a look at a handful of recent announcements from federal regulators that you may have missed. Read on »
Posted Date: Friday, April 5, 2024
In a move that strengthened the bank’s presence in the state of Virginia, Atlantic Union Bankshares Corp. completed a merger with American National Bankshares Inc. on April 1. The acquisition brings Atlantic Union’s total assets to $24.3 billion, including $19.4 billion in total deposits and $17.9 billion in total loans held for investment. Read on »
Posted Date: Friday, April 5, 2024
Navy Federal Credit Union (NFCU) recently unveiled its new Military Banking Facilities (MBF) as part of a Department of Defense initiative to provide financial services to military personnel overseas. NFCU is branding its MBFs as “community banks,” which has drawn criticism from community banking advocates who note the institution’s tax-exempt status and concerns about regulatory oversight. Read on »
Posted Date: Friday, March 22, 2024
The state of the housing market is intrinsically tied to the economy, making Mortgage Bankers Association Chief Economist Mike Fratantoni well suited to comment on where it stands, as he recently did before members of Congress.
Read what he had to say, as well as other developments announced by trade organizations representing banks, credit unions and other corners of the financial marketplace. Read on »
Posted Date: Friday, March 15, 2024
Banks reported $256.9 billion in first-quarter net income, representing a $30 billion drop from the fourth quarter of 2023 and a year-over-year decrease of $6 billion, according to the Federal Deposit Insurance Corp.’s latest Quarterly Banking Profile. About 70 percent of the drop-off was attributed to specific, nonrecurring, noninterest expenses at large banks. Read on »
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