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In the year's first instance of a credit union buying a bank, Georgia’s Own Credit Union in Atlanta has agreed to acquire nearby Vinings Bank. The Peach State is home to more than 300 banks, making it ripe for such deals.
February 22
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Klarna Bank is adding the option for customers to pay immediately at checkout in nine new markets while expanding its rewards program, as it targets becoming a one-stop lender for consumers.
February 22
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The complaint seeks unspecified damages over the bank’s mortgage origination and underwriting practices, alleging minority homebuyers were excluded from affordable, low-risk loans.
February 22
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The Minneapolis bank is shifting consumer-facing applications and other technology components out of its data centers and into Microsoft’s Azure cloud.
February 22
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The purchase of Vinings Bank in Smyrna, Georgia, is the year's first instance of a credit union buying a bank. There were 13 such acquisitions announced last year.
February 21
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Investors are souring on BNPL companies despite strong consumer demand, as the business model for short-term installment loans faces fee pressure, heightened competition from banks and the specter of a regulatory crackdown.
February 20
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The Northeastern banks had aimed to wrap up their deal by Feb. 21, but the Federal Reserve — the last of the regulatory authorities they need approval from — hasn’t signed off yet.
February 18
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While Wall Street banks press employees to return to the office this month, its regulators in Washington are largely sticking with a flexible approach to remote work.
February 18
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The Federal Reserve formally adopted tough, sweeping restrictions on officials’ investing and trading, aiming to prevent a repeat of the ethics scandal that engulfed the U.S. central bank last year.
February 18
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Super Bowl ads' impact, another overdraft-fees ouster, and more in banking news this week.
February 18
