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The dominant role of former Heartland Tri-State Bank CEO Shan Hanes was a major factor in the bank’s failure, according to a Feb. 7 Federal Reserve Office of the Inspector General report. [Continue]
Interest rate cuts are unlikely in the near future due to lingering economic risks, said Federal Reserve Gov. Michelle Bowman on Feb. 12 during the American Bankers Association’s Conference of Community Bankers in San Antonio. [Continue]
The Consumer Electronic Show, perhaps the largest technology convention on the globe, returned to Las Vegas on January 9-12, bringing together more than 4,000 exhibitors, including many companies producing banking and personal finance tools. [Continue]
Former CEO of failed Kansas bank Heartland Tri-State Bank Shan Hanes was federally indicted earlier this month for allegedly embezzling $47.1 million from the bank in the weeks leading up to its collapse. [Continue]
Forty years have passed between Citizens Alliance Bank’s first bank acquisition — made in the early 1980s when the bank was known as Citizens State Bank of Clara City, Minn. — and its most recent, closed last summer. [Continue]
Economists and bankers expect GDP growth will slow this year amid an ongoing exodus of Covid-19 stimulus dollars from the market and the impact of numerous interest rate hikes from the Federal Reserve to cool inflation. Beyond that, the scope of a recession — or whether one will even occur — is subject to extensive debate. [Continue]
The Office of the Comptroller of the Currency is proposing ending the possibility of merger applications being approved based solely on the passage of time while adding transparency to standards consistent with merger approvals and denials. [Continue]
Between neo-banks, fintechs, alternative financing options, the big tech companies and large financial institutions, there is no shortage of competition for today’s community banks. [Continue]
The Consumer Financial Protection Bureau is looking to overhaul how banks and credit unions with more than $10 billion in assets determine overdraft expenses. [Continue]
Recently released climate risk principles for the largest banks reveal that regulators are losing sight of crucial safety and soundness risks, said Federal Reserve Gov. Michelle Bowman. [Continue]