BCB seeks capital as Truist exits near-prime auto lending

BCB Bancorp launched a common-stock offering and expects a third-quarter loss. Its filing says it is marketing problem-loan portfolios and cannabis-focused business lines for sale. The supplied filing excerpt gives no size for the offering or expected loss.

Truist agreed to sell $5.5 billion in auto loans and exit near-prime lending. Nonperforming indirect auto loans reached $569 million in the second quarter, about one-third of its nonaccruing assets. The business had weighed on credit quality and no longer fit the bank’s strategy.

Chime is described as nearing ownership of its own bank. American Banker frames prospective bank ownership as part of Chime’s preparation to compete with large U.S. banks. The supplied account specifies neither a timing nor an ownership path.

The Senate failed to advance the CLARITY Act. The 49–50 procedural vote delays proposed permissions for banks to participate in digital assets. Stablecoin-yield policy remains unresolved amid banking concerns about potential deposit drain.

Treasury imposed an additional restriction on VTB. The restriction is intended to curb VTB’s correspondent banking relationships with sanctioned Iranian banks. VTB was already subject to sanctions dating to 2022.