The blending of two banks' operations is a "very unsettled time" for employees, says Russ Colombo, CEO of Bank of Marin. Moving as quickly as possible can help ease their pain.
The House passed a bill Thursday making it easier to obtain private flood insurance policies, but moments later the Senate took a pass on the legislation.
Ned Handy, who will take the helm in March, wants to be more aggressive luring deposits in the company's home state. That should reduce the company's reliance on other funding sources to support loan growth.
Rep. Patrick McHenry, R-N.C., plans to reintroduce legislation requiring the IRS to fast-track income verification, which proponents say could reduce the financial industry's dependence on credit bureaus.
As eye-catching as the scandals at Wells Fargo are, the most shocking thing is that federal regulators have taken no meaningful action against the bank’s executives.
Regulators disagree whether proposed changes to capital requirements would ease burden on community banks; JPMorgan on hook if jury award not overturned.
It's been a busy day, but before I sign off for the evening, I would be remiss not to flag Paul Kiel's outstanding piece that came out this morning, How the Bankruptcy System is Failing Black Americans. ProPublica and The Atlantic co-published the article. An extensive data analysis also accompanies the article.
Washington Federal has pulled its application to buy Anchor Bancorp after regulators flagged issues tied to its BSA systems and processes. The companies said they remain committed to the deal.
