Banking

The Justice Department said FNB will pay $13.5 million to settle the redlining charges, of which the bulk will go into a fund to help subsidize loans for Black and Latino borrowers in Charlotte and Winston-Salem, two housing markets where the DOJ found discrimination.

North Carolina credit unions are looking to expand their operations, but the legislation is facing strong opposition from the state’s banks.

Local startups are hopeful. But venture capital experts warn benefits will be more incremental than torrential.

The Raleigh-based bank bought SVB in a deal negotiated by the Federal Deposit Insurance Corporation — an independent U.S. government agency designed to help financial institutions.

North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month. The deal could reassure investors at a time of shaken confidence in the banking industry.

Credit Suisse executives say it's too early to talk about job cuts. It announced plans to eliminate 9,000 positions late last year.

Wells Fargo will focus on loans for minority home buyers.

The money that Mechanics & Farmers will receive is part of a federal program designed to small businesses.

First Horizon has a large presence in the Triangle and Triad. In February, Toronto-based TD Bank announced it would buy First Horizon for $13.4 billion.

Credit unions and banks across the state are closing lobbies and using only drive-up windows during this coronavirus outbreak.The North Carolina State…