Scroll via to see what you may need missed this week in banking, funds, mergers and acquisitions and extra.
Modifications that started at particular person banks in 2021 gained steam this yr, as many giant and midsize banks diminished their reliance on overdraft-related prices. Federal and state policymakers had been key catalysts of the ocean change.
The Senate voted to substantiate Martin Gruenberg as chairman of the Federal Deposit Insurance coverage Corp., Travis Hill as its vice chairman, and Jonathan McKernan to affix the company’s board.
The loans for self-employed debtors are getting a contemporary examination to find out in the event that they fall throughout the Shopper Monetary Safety Bureau’s up to date pointers for certified mortgages, which went into impact in October.
Dan Clarke succeeds Rachel Caron, who was CEO of the $256.4 million-asset group for 12 years earlier than retiring in June.
Banks, fintechs and credit score unions are cautiously investing in know-how and buyer expertise as subsequent yr’s financial system stays unsure.
Dicier credit score circumstances, recession fears and more durable regulatory scrutiny mixed to weaken merger exercise in 2022. A push for scale is certain to renew when rates of interest stage off — at the very least amongst smaller banks, analysts say.
Brown has helped the net financial institution climate the pandemic. His subsequent problem: a looming financial downturn
