Banking

The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.

Small-business owners will be given the option to tap into anywhere from $50,000 to $500,000 in financing.

The Sunshine State deal comes following a banner year for credit union-bank combinations, despite pushback from community banking advocates.

Equifax Inc.'s first-quarter profit beat estimates, although the credit-reporting agency declined to raise its guidance, citing the tariff-induced uncertainty in the economy and falling consumer confidence.

The National Credit Union Administration insists it can still function with one board member, but legal experts and industry groups say any substantive regulatory actions could face serious challenges.

Federal Reserve Gov. Michael Barr — who recently stepped down as the central bank's vice chair for supervision — urged banks and regulators to use emerging technologies to keep pace with bad actors.

The super-regional bank cited "a material slowdown" in investment banking and trading income as one reason for the lower revenue forecast. Interest rates are also a factor, executives said.

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.

The Buffalo, New York-based bank also said Monday that the commercial real estate lending market has started showing signs of life, but that the renewed competition is crimping its loan growth.

Approximately 9% of current homeowners experience a labor market event that results in a negative credit shock, limiting access to their equity, Point said.