Financial News
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Navy Federal contract, Republic First failure: April’s top banking news
In this month’s roundup of top banking news: Navy Federal Credit Union officially launches its overseas banking program, Republic First…
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PayPal’s transformation emphasizes Venmo, cross-border opportunities
Touting strong first-quarter sales and revenue growth, CEO Alex Chriss committed to rebuilding the firm’s languishing Xoom cross-border unit and…
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The failure of Republic First is a blip — in a rising tide of blips
The failure of Republic First isn’t a systemic threat or even a surprise. But the conditions that led to its…
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Are recent deals a sign of bank M&A resurgence?
Consolidation has slowed since the pandemic, but UMB’s agreement to buy Heartland Financial — the largest deal in three years…
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Rep. Hill takes aim at Biden administration’s moves on fintech
Rep. French Hill, the No. 2 Republican on the House Financial Services Committee, promised bankers Tuesday that he will continue…
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HSBC’s CEO is stepping down. Who’s in the running to replace him?
Noel Quinn is leaving after four years in the role. It’s the third time in six years that HSBC has…
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‘Liar’s Poker’ wears its age well after 35 years
Though written before the internet era, the book about working at Salomon Brothers in the 1980s that launched Michael Lewis’…
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Discover’s AI use, Synapse’s bankruptcy: Top tech news for April 2024
In this month’s roundup of top tech news: The impact of Synapse’s bankruptcy on the banking-as-a-service industry, large language models…
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Fannie Mae single-family volume drops close to 24-year low
But strong g-fees, a positive credit-loss adjustment and stable home prices bolstered results despite declines in mortgage purchases to lows…
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Property-level climate risk scores are unreliable and harmful
Climate models that purport to assess the risk of environmental damage faced by individual properties threaten to distort the market,…
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Hope Bancorp to buy Hawaii bank in $79 million deal
The Los Angeles-based company, which focuses on Korean Americans, said the acquisition of Territorial Bancorp will allow it to expand…
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Fulton details Philly boost it’s getting from Republic First takeover
The first bank failure of 2024 will result in the Lancaster, Pennsylvania-based Fulton nearly doubling deposits in Philadelphia, a market…
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UMB Financial to acquire Heartland Financial for $2 billion
The combination of the two regional banks is set to create a $64.5 billion-asset company with a 13-state footprint across…
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The Fed is talking, but markets still hear what they want to hear
Banks and other financial market participants have been keyed into the central bank’s communications around monetary policy expectations. But in…
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Michigan credit union helps members borrow from friends and family
Michigan State University Federal Credit Union is working with the relationship-based lending app Zirtue to offer members a tool for…
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