Ten questions for Philadelphia Fed President Patrick Harker

In an extensive interview, Philadelphia Fed President Patrick Harker talks about the challenges facing community banks, the biggest threat to the financial system and the possibility of interest rate hikes later this year.
Source: American Banker

N.Y. bank faces activist threat from a former executive

A former chief financial officer at Hanover Bancorp is trying to separate the roles of chairman and CEO as part of a sweeping demand for change.
Source: American Banker

SBA lending gains popularity with thrifts in need of fee income

First Savings Financial in Indiana and Dime Community in New York are keen on making more SBA loans as a way to diversify revenue and generate fees through loan sales.
Source: American Banker

Fed's Powell has some explaining to do on stress test move

The chairman of the Federal Reserve is testifying before Congress this week, where he will likely face tough questions about the agency’s decision to let two banks slide on their exams late last month.
Source: American Banker

BBVA and B of A move to make data sharing safer, less painful

The Spanish bank is opening its APIs to outside developers as Bank of America tests a new data-sharing model with aggregators.
Source: American Banker

CFPB fines Alabama lender but suspends most of penalty

The bureau determined that Triton Management Group had unfairly charged Mississippi consumers excess interest in violation of state law.
Source: American Banker

Could Trump go 'nuclear' on FDIC?

The end of the filibuster for presidential nominees could affect whether Democrats get a say in picking board members of the FDIC.
Source: American Banker

Advocacy group sues CFPB, OMB for Kraninger's records

Allied Progress, a consumer watchdog, sued the CFPB and the OMB on Wednesday for failing to respond to a request for documents on Kathy Kraninger, President Trump’s nominee to lead the CFPB.
Source: American Banker

IPO to boost lending capacity at Esquire Financial

The New York company, which plans to raise about $40 million by going public, could also use the funds to make acquisitions.
Source: American Banker

Why bank M&A has been so quiet in the Northeast

Once a hotbed of activity, the region has reported the fewest bank mergers since the financial crisis.
Source: American Banker