The Consumer Financial Protection Bureau has issued guidance about “junk fees,” targeting two practices that it believes are “likely unfair and unlawful under existing law.” The CFPB has its sights set on “surprise overdraft fees” such as those that occur when customers have sufficient funds to cover a debit charge at the time the bank authorized it. Regions Financial in Birmingham, Ala., recently agreed to a $191 million settlement tied

The Western Bankers Association is looking for a new leader. The association announced that Stephen Andrews will resign as its president and CEO, effective at the end of this month. Andrews, who is also stepping down as the leader of the California Bankers Association, has held his posts since May 2019. The WBA said that Kevin Gould, director of government relations, and Yvette Ernst, chief of staff and corporate secretary,

Finward Bancorp in Munster, Ind., is continuing to close branches. The $2.1 billion-asset company, which closed two branches in July, said in a press release that it will shutter three more locations by the end of this year. Finward also closed a branch in 2021. Finward said that each closure will reduce operational costs by roughly $250,000, excluding personnel expenses. The company said its remaining 26 branches are being analyzed

Collins Community Credit Union in Cedar Rapids, Iowa, is the latest credit union to announce layoffs. The $1.6 billion-asset credit union cut 38 positions on Oct. 6, according to published reports. Most of the cuts came in its mortgage operations. The announcement comes weeks after GreenState Credit Union in North Liberty, Iowa, cut 42 positions, or about 5% of its workforce. The $10.7 billion-asset GreenState said most of the cuts

Finexio, an Orlando, Fla., fintech, has raised $35 million in Series B funding round that included several banks among the investors. Finexio, a B2B accounts payables Payments-as-a-Service company, said in a press release that J.P. Morgan was the biggest investor. Patriot Financial Partners, Discover Financial Services, Valley National Bancorp and Trogg Hawley Capital also participated. National Bank Holdings and Mendon Venture Partners co-led the fundraising round. “We are thrilled to

Peoples Bancorp in Marietta, Ohio, has agreed to buy Limestone Bancorp in Louisville, Ky. The $7 billion-asset Peoples said in a press release that it will pay $208.2 million in stock for the $1.5 billion-asset Limestone. The acquisition, nicknamed "Project Bourbon," is expected to close in the second quarter. The deal priced Limestone at 173% of its tangible book value. Limestone has 20 branches, $1.1 billion of loans and $1.2

GBank Financial Holdings in Las Vegas has rebranded its bank. The $667 million-asset company said in a press release that its Bank of George will be known as GBank. GBank Financial also debuted a new corporate brand and website. "More and more, our national markets and communities have associated our success with the shortened name of our holding company," T. Ryan Sullivan, the company’s president and CEO, said in the release.

Republic First Bancorp in Philadelphia has been unable to negotiate a truce with one of its biggest investors. The $5.7 billion-asset company said in a press release that it tried to hammer out a standstill agreement with a group that includes George Norcross and Gregory Braca. Republic First said the Norcross-Braca group wanted $3.5 million to cover various expenses, board seats and for Braca to become the company’s CEO. The