Consumer Finance

The perennial effort by state-level lawmakers and regulators to impose their will on national banks risks damaging a well-balanced system that has allowed the U.S. economy to thrive.

First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.

The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.

Origin Bancorp, Renasant Bank and Triumph Financial are the latest financial institutions to report exposure to the bankrupt auto lender Tricolor, joining a list that includes Fifth Third, Barclays and JPMorganChase.

First internet Bancorp, which has recently been grappling with credit quality issues, has agreed to sell an $869 million portfolio of single tenant commercial real estate loans to Blackstone.

Tricolor Holdings had been showing some cracks leading up to its bankruptcy filing Wednesday. Fifth Third, which had funded the company, said that the problem is a "one-off."

The Treasury Department has designated Fifth Third as the financial agent for its Direct Express prepaid card program. The decision marks a reversal from late last year, when BNY reached a five-year agreement with Treasury.

Congress can and should enact meaningful deposit insurance reform, but the current proposal before lawmakers is misguided. The deposit cap is excessive and the funding mechanism creates systemic risk.

The Columbus, Ohio-based regional bank announced plans to acquire Dallas-based Veritex Financial in July. On Monday, a Huntington executive called the deal a "springboard" for additional organic growth.