The Latest

Wellby, Powered by JSC Federal Credit Union has named Martyn Pell as its president and CEO. He most recently was chief lending officer at Coastal Federal Credit Union in North Carolina.

The institution joins a small but growing list of large banks that allow businesses like utilities and mobile carriers to instantly accept consumer transactions.

Northern Hills Federal Credit Union in South Dakota is one of several institutions testing tools that can deliver faster loan decisions, an edge they need against digital upstarts.

Randal Quarles, who oversaw an easing of post-financial crisis rules as the Federal Reserve’s vice chair of supervision, announced he will resign at the end of this year. His departure will leave President Biden with another open seat to fill on the central bank’s board.

Overdraft fees are criticized as unfair penalties for lower-income customers, but they are often better for consumers than getting purchases rejected.

Executives at the 90 institutions that made the ninth annual ranking are boosting benefits to attract new employees, amid intense competition for talent. They're also rethinking how they approach recruiting and increasing their diversity efforts.

Pomona Postal Federal Credit Union is the fifth institution for which the agency has taken this action this year.

Under federal law, individuals with criminal records must receive government approval to work at a bank. Leeway has been granted over the years, but now the industry plans to lobby Congress to eliminate major hiring hurdles.

Many of the consumers who embraced online and mobile channels during the pandemic are seeking help from human bankers more than ever, according to research from Cornerstone.

The Florida bank's agreement with the core provider FIS is expected to reduce annual expenses by $12 million. Analysts expect more banks to make similar moves.