Retail & Commercial

Truist Financial is bulking up its commercial and corporate banking arm by hiring senior executives from rival firms and promoting from within; F.N.B. Corp launches a $46 million-dollar community development program focused on Main Street revitalization; buy now/pay later lender Affirm extends its partnership with Moore Capital through May 2027; and more in this week's banking news roundup.

The Senate Banking Committee is now proposing to cut the cap by which the Consumer Financial Protection Bureau can request funds from the Federal Reserve to 6.5% of the Federal Reserve's operating budget after its opening bid of 0% was rejected by the Senate parliamentarian.

While consumer distress in auto and personal loans also picked up, the pace of growth among mortgages was atypical, Vantagescore's monthly credit gauge said.

How Capital Performance Group conducted its rankings analysis.

Community banks that could reel in cheap deposits while keeping a lid on expenses were able to outperform peers in 2024.

Gov. Mike Dunleavy, a Republican, vetoed a bill that would cap consumer loan rates at 36% APR, arguing it would restrict credit access for vulnerable Alaskans.

An error in data submitted to the Consumer Financial Protection Bureau about consumers with no credit record — known as "credit invisibles" — has skewed the agency's reports, showing that the number of Americans without credit histories is half what it was thought to be.

Lenders have been working to shrink their rent-regulated real estate loan portfolios since a watershed state law passed in 2019, but those plans may be accelerated.

The digital bank is returning to crypto trading, a service it first offered in 2019 but had to shelve due to regulatory compliance concerns.

The pending sale of the branches in eastern Pennsylvania to a central New York-based bank comes amid Santander's planned closure of 18 branches this summer and its continued focus on building out a national digital bank.