Online account opening is essential yet underutilized, study says
Recent studies point to online account opening as an essential yet underutilized resource for community banks. [Continue]
Recent studies point to online account opening as an essential yet underutilized resource for community banks. [Continue]
Total assets in federally-insured credit unions jumped nearly 12 percent in 4Q 2021 to $2.06 trillion, according to the latest data from the NCUA. [Continue]
Federal Reserve Chair Jerome Powell said already decades-high inflation readings could increase even more following Russia’s invasion of Ukraine. During his March 3 testimony before the Senate Banking Committee, Powell noted that Russia’s key role in key global commodities such as oil will likely send gas prices higher, though he didn’t know for how long. … Read more
Arkadelphia, Ark.-based Southern Bancorp Bank is acquiring the $200 million Premier Bank of Arkansas. [Continue]
Madison, Wis.-based Summit Credit Union is buying the $837 million, West Bend, Ill.-based Commerce State Bank. [Continue]
The U.S. economy expanded “at a modest to moderate pace” early this year as a surge in Covid-19 cases temporarily slowed business activity. [Continue]
Embedded finance and the rapid rise of fintechs pose major threats to banks, according to a recent Morning Consult report. [Continue]
Supply managers say the Midwestern economy remains strong, but optimism is sinking as Russia’s recent invasion of Ukraine continues. [Continue]
Banks and savings institutions insured by the Federal Deposit Insurance Corporation made $63.9 billion in net income during the fourth quarter of 2021, according to the latest Quarterly Banking Profile. The $4.4 billion, 7.4 percent year-over-year increase was driven by ongoing economic growth and improved credit conditions, according to the FDIC. [Continue]
Federal Reserve Governor Christopher Waller says the Federal Reserve might need to raise interest rates to 0.5 percent in mid-March to stem high inflation. [Continue]