The Latest

Citigroup plans to exit Venezuela by selling its remaining business there, ending more than a century of operating in the South American country.

Banks should let consumers download their account data and transfer it to other financial providers, according to a new presidential order. Some experts argue aggregators are already making this happen, but others say the directive implies more consumer control.

Stopera retired in 2019 after 39 years at Capital Communications Federal Credit Union in Albany, New York. In 2003, the credit union founded the CAP COM Cares Foundation, which donated about $4 million and over 30,000 volunteer hours to families in the region.

Novus, a startup whose app helps consumers make environmentally conscious purchases, is using application programming interfaces provided by the two companies to expand quickly. The effort shows how open banking can extend the reach of small companies and create new business lines for larger ones.

The bank is piloting fingerprint-reading cards that work with existing payment terminals. Its goals are to strengthen security for large transactions and to inform future deployments in other markets.

ICBA Bancard will help link community banks to instant payments through a partnership with real-time services hub provider Finzly.

Though the Paycheck Protection Program is winding down, the Small Business Administration has prolonged several other pandemic relief programs. Community banks can help local businesses sort through their options.

Lakeland is paying $244 million for 1st Constitution Bancorp. The combined bank would be the fifth largest by deposit market share in New Jersey.

Rosilyn Houston will succeed William Wolf, who is retiring this summer from Banco Santander’s U.S. unit.

U.S. Treasury Secretary Janet Yellen signaled she’ll prod multilateral development banks to rein in their lending for fossil fuels, part of a global effort to make the financial system greener.