The State Department has added 14 Chinese lawmakers, including a member of the Communist Party’s ruling Politburo, to a blacklist under the Hong Kong Autonomy Act. Banks face sanctions if they do business with them. ]] ... Read full article
The two banks are pushing back against shareholder requests for sweeping audits of how they handle racial equity as the industry faces mounting public scrutiny of its historic role in economic disparities. ]] ... Read full article
The company will pay $29 million for Town-Country National Bank in Camden, Ala., which will operate as its own subsidiary after the deal closes. ]] ... Read full article
DLP Bancshares, an affiliate of DLP Real Estate Capital, plans to use the acquisition to create a national platform for commercial real estate and warehouse loans. ]] ... Read full article
Seven years after regulators issued guidance to financial institutions, a small Michigan credit union was ordered to stop opening new accounts for marijuana businesses. ]] ... Read full article
The company is still searching for someone to fill the roll on a full-time basis, but the $600,000 annual salary cap may limit the candidate pool. ]] ... Read full article
M&F Bancorp in North Carolina plans to use some of the $18 million it received from big banks to make overdue improvements to its commercial lending platform. ]] ... Read full article
The proposed legislation is similar to a package put forward in 2020 and another introduced in the House in 2019. ]] ... Read full article
Banks have borne the brunt of the criticism from consumers still waiting for coronavirus relief funds to land in their accounts. But the industry says the lag time is the fault of the government and its antiquated payments system ]] ... Read full article
Mastercard and Visa's one-year delay is only a partial victory for retailers, who want the networks to have less power to set rates. ]] ... Read full article
Citigroup’s dealmakers have been keeping busy with family offices looking to get in on the blank-check frenzy. Now the lender wants to bring its private bank a piece of the action. ]] ... Read full article
After postponing enforcement for years, the card brands are implementing an EMV liability shift at fuel stations, which still struggle to make the upgrades necessary for chip-card acceptance. ]] ... Read full article
Government relief programs and lenders’ forbearance have kept U.S. small businesses from defaulting on their debt en masse as revenue slumped during the pandemic crisis, according to a new analysis. ]] ... Read full article
Hood Qaim-Maqami, divisional CIO at the Bank of New York Mellon, has ideas about how technology can be used to make people feel connected. ]] ... Read full article
Visa and Mastercard are postponing plans to boost the fees U.S. merchants pay when consumers use credit cards online, pushing back the changes another year to April 2022 because of the pandemic. ]] ... Read full article
Economists see few signs of a repeat of the 2006 bust, which ignited a global recession; the firms are winning a bigger piece of the corporate bond market as issuers seek wider markets. ... Read full article
Big banks led the push to offer multibillion-dollar bonds that fund affordable housing, education and nonprofits that serve needy communities. But Truist’s recent $1.25 billion bond is a sign that regionals want to attract progressive institutional ... Read full article
The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers. ... Read full article
The Senate Banking Committee is questioning whether Goldman Sachs Group paid dividends at the expense of lending to businesses and households during the pandemic as lawmakers take a broad look at the support big banks offered clients to get through the ... Read full article
