During a market rally following Monday's correction, MoneyLion was left behind despite beating analyst expectations and issuing a positive outlook.
The parent company of Fulton Bank announced the creation of three new management roles and promoted existing employees into those jobs. The changes follow the recent hiring of an outsider to be CFO.
Governor Tim Walz, whom Vice President Kamala Harris selected as her running mate Tuesday, has a slight but progressive record on financial policy, suggesting a potential leftward shift in banking policy in a prospective Harris administration.
The Long Island-based thrift, long associated with multifamily and CRE lending, saw business lending spike the past year as it onboarded 15 banking teams. Other banks that did significant hiring have also reported more deposits and wider margins.
The Dallas-based bank is the latest bank to announce plans for a direct lending rollout using nonbank capital.
Jack Poulsen, the former president of Ericson State Bank in Nebraska, was sentenced to 18 months in prison for bank fraud involving loans to a relative that led to the rural bank's collapse.
