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After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.
February 16
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The Minneapolis-based bank announced it would partner with Microsoft Azure as its cloud provider early last year. Now it's getting its tech team cloud-ready.
February 16
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The National Credit Union Administration board approved a rule that will require credit unions to notify the agency of a breach within 72 hours.
February 16
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Andrew J. Mullins III succeeded Kelly Smith as president and CEO this month. Smith has been interim CEO since 2019.
February 16
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About 3% of borrowers in their 20s and 30s became seriously delinquent on their credit card payments last quarter, significantly faster than older consumers. The picture was similar in auto lending, according to research by the Federal Reserve Bank of New York.
February 16
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The prepaid card issuer is working with the electronic billing company Paymentus to appeal to consumers who want to make digital payments without opening a mainstream bank account.
February 16
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The move is designed to give banks and credit unions a clearer path to connecting with Plaid without screen scraping or password sharing.
February 16
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Cleveland Fed president says the central bank is still raising rates to a level that's high enough to bring inflation down to the target.
February 16
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The bank was one of the last major holdouts to bow to expense pressures that have left no one immune.
February 16
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Early Warning Services said it made significant traction in signing up smaller participants in 2022, as 70% of the 500 financial institutions that went live on Zelle's peer-to-peer network last year have less than $1 billion of assets.
February 16
