BankThink

Wells Fargo gets top marks for COVID-19 safety

09/03/20

When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.

[more]

Alabama One Credit Union to buy First Bank of Linden

09/03/20

The purchase-and-assumption transaction, if approved, would become the first credit union-bank merger in Alabama.

[more]

Six more credit union-backed candidates progress to general election

09/03/20

Victories in Massachusetts earlier this week bring the Credit Union Legislative Action Council to a 96% success rate backing races in this election cycle.

[more]

Industry groups call on NCUA to refine virtual examination process

09/03/20

With on-site supervision off the table indefinitely, various credit union trade associations have suggested how NCUA could improve remote exams, including issues related to exam timelines and cybersecurity.

[more]

Even in pandemic, small banks forge ahead with core conversions

09/03/20

Many community banks, like Peoples Community in Wisconsin, say they proceeded despite the technological challenges presented by social distancing because the crisis has exposed the shortcomings of their digital systems.

[more]

California probes potential violation of new rate-cap law

09/03/20

The state's financial regulator sent a subpoena to an auto-title lender seeking information about its partnership with a Utah bank, marking the first public disclosure of an investigation into efforts to evade a 2019 law capping interest rates on many consumer loans.

[more]

The fintech Jiko buys a bank

09/03/20

The company has acquired a federal savings association, Mid-Central Federal Savings Bank in Wadena, Minn., which is converting to a national bank.

[more]

NEFCU adds 14 counties to field of membership

09/03/20

The Vermont-based credit union received the OK from federal regulators to add 650,000 potential members to its FOM, an increase of 15%.

[more]

Virginia Credit Union League president to retire next year

09/03/20

Richard Pillow will step down after more than four decades in the industry.

[more]

Wirecard fallout spreads; FINRA fines Wells $2 million for annuity practices

09/03/20

Germany’s two biggest banks have dropped Ernst & Young because of ties to the defunct payments company; Wells was charged with failing to account for the costs of switching customers to new investments.

[more]