Banking

More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.

The Minneapolis-based buyer had previously said the deal would close earlier in the second half. Some of the financial benefits, which had been expected to be realized next year, won't come to fruition until 2024, executives said Monday.

The North Carolina bank's insurance subsidiary agreed to pay $3.4 billion to buy BankDirect Capital Finance. The sale reflects opposing strategies by the two companies.

PACE financings expected to accelerate lending for energy-efficient projects under new Inflation Reduction Act: DBRS Morningstar report.

The Ohio bank, which has been releasing more information about its Scope 3 emissions, promised to take steps with customers and suppliers to reduce their collective impact on climate change.

The state Supreme Court heard oral arguments in a lawsuit involving one of the nation's largest debt buyers. At issue is how much detail the industry must disclose about what consumers allegedly owe.

After a decade of multibillion-dollar tech investments by banks, efficiency ratios have begun to improve and headcounts drop, some industry watchers say. Skeptics counter that other reasons are at play and that it's all hard to measure.

Federal Reserve Chair Jerome Powell's speech in Jackson Hole reaffirmed that the end of accommodative monetary policy is coming to an end. This is a boon to banks, but only those that have managed their balance sheets just right.

The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.

Auto loan growth eased substantially in the second quarter amid competitive pressures from credit unions and other lenders.

The $369 billion directed toward climate preparedness in the Inflation Reduction Act is expected to reverberate through the economy for years to come and could supercharge private investment in the nation's clean energy sector. 

As regulators mull the Toronto bank's deal for First Horizon and broader guidelines around bank combinations, community groups called for stronger investment commitments from the two banks before they are allowed to merge. 

Corporations are navigating shifting geopolitics, and M&A bankers are advising them as they consider selling off faraway units and focusing more on assets closer to home or in friendlier countries.

A new bipartisan senate caucus organized around community development financial institutions is just the latest sign that the sector's political influence is reaching new heights. 

Recent reports highlight the question of how much wage growth can do to sustain loan performance as pandemic relief gets rolled back, consumer costs rise and the housing market cools.

The rating agency has revised the long-term issuer default rating for PacWest Bancorp and its banking subsidiary, Pacific Western Bank, from "BBB" to "BBB-" and says it doesn't expect the bank's common equity Tier 1 ratio to bounce back anytime soon.

The Consumer Financial Protection Bureau said a company doesn't need to experience a data breach for the agency to consider taking action.

Rising interest rates, lower stock prices and other headwinds have caused many banks to pump the brakes on dealmaking. But some are betting that these trends will be too short-lived to deter them from engaging in mergers and acquisitions.

Huntington Bancshares has hired Shawn Lough, a veteran Truist Financial banker and West Point graduate, to help guide the sales strategy and goals of its consumer and business banking operation. It also expanded the duties of Digital Director Mark Sheehan to include deposits.

The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation.