Report: Financial cyberattacks spike in late 2020
Cyberattacks increased 20 percent on a year-to-year basis in the financial services industry during the last six months of 2021, according to a LexisNexis report. [Continue]
Cyberattacks increased 20 percent on a year-to-year basis in the financial services industry during the last six months of 2021, according to a LexisNexis report. [Continue]
Small business C&I loans have fallen nearly 27 percent since the end of 2020 due to PPP’s end and a reduction in SBA-guaranteed loans, a KC Fed survey shows. [Continue]
The Minnesota Bankers Association says the Minnesota Department of Commerce’s rejection of a proposed merger between Royal Credit Union and Lake Area Bank provides needed clarity on the legality of such transactions within the state. In rejecting the proposal for the Eau Claire, Wis.-based credit union to purchase the Lindstrom-based bank, the Department of Commerce … Read more
The Midwestern economy remains strong but will likely face ongoing headwinds due to high inflation and the war in Eastern Europe. [Continue]
Total deposits increased nearly 11 percent during the year ending June 30, 2021, a smaller spike than 2020 but still above pre-pandemic levels. [Continue]
Denver-based National Bank Holdings Corp. is acquiring the Wyoming-based Bancshares of Jackson Hole, Inc., in a $230 million deal. The merger is expected to close later this year. National Bank Holdings Corp., holding company of NBH Bank, will have $8.8 billion in assets and $7.7 billion in deposits following the merger. National Bank Holdings Corp. … Read more
Federal Reserve Bank of Kansas City Gov. Esther George said the Fed should quickly move to a neutral monetary policy setting due to decades-high inflation readings and near-record low unemployment. [Continue]
Banks looking to attract younger customers should prioritize their digital banking offerings and promote their DEI and ESG work, according to a BAI report. [Continue]
Credit card issuers charged $12 billion in late fees in 2020, according to a recent report from the Consumer Financial Protection Bureau. [Continue]
Sioux Falls, S.D.-based MetaBank announced March 29 that it is changing its name to Pathward NA after Facebook (now Meta) bought exclusive rights to the name. [Continue]