The Latest

Higher interchange fees and a giveback of loan-loss provisions helped banks overcome rising expenses and other headwinds in the third quarter, according to the Federal Deposit Insurance Corp.'s Quarterly Banking Profile.

Liz Wolverton, previously the Georgia bank’s chief strategy and customer experience officer, will oversee its branch network, consumer products, marketing and more.

Marcus, who joined Facebook in 2014 from PayPal, ran the Messenger service for years before moving over to form the company’s blockchain division in 2018.

The White House is considering nominating Richard Cordray, who led the Consumer Financial Protection Bureau from 2013 to 2017, as the Federal Reserve's next vice chairman of supervision, according to a report in The Wall Street Journal.

The addition of two new prohibitions raises the total number of issuances by the National Credit Union Administration to 24 for the year so far.

Startups in the U.S. and Canada are emphasizing features such as virtual issuance and receipt capture in creating expense cards for business owners.

The Senate Banking Committee is considering hearings as early as December on the nominations of Federal Reserve Chair Jerome Powell for a second term as leader of the nation’s central bank and the elevation of Fed Gov. Lael Brainard to become vice chair.

The portfolio, which Bank of America has handled since 2015, has roughly $100 million in balances.

To distinguish itself from the Chicago-based credit union of the same name, Alliant Credit Union in Dubuque is becoming AIM Credit Union. It was founded as Interstate Credit Union in 1933.

The aging of the American workforce is expected to hit the financial industry especially hard. So banks are considering nontraditional job candidates, finding bigger roles for young employees and moving those planning their departures into advisory roles.