Allissa Kline

At the bank’s investor day, CEO Jane Fraser and other top executives outlined where they are investing, how they are reorganizing and what it will all cost.

Alternative lenders should be held to the same standards as banks under the Community Reinvestment Act and other laws, M&T CEO René Jones argued in a letter to shareholders.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

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.

The Providence, Rhode Island, bank expects to finalize its purchase of 80 HSBC Bank branches on Friday and complete a systems conversion over the weekend. Its pending deal for Investors Bancorp is on track to go through early next quarter, Chief Financial Officer John Woods said.

Some investors worry the rebound in consumer lending will inevitably lead to more defaults. Here’s why bank executives disagree.

The agreement to acquire Vantage Financial in Minnesota comes less than a year after Peoples Bank purchased North Star Leasing in Vermont.

Jennifer Barker, who will join Bank of New York Mellon in May, is expected to maintain the custody bank’s focus on its digital transformation.

The acquisition of Bend Financial will accelerate the Connecticut bank’s efforts to deliver an improved digital experience to HSA customers, executives said.

Northern Lights Acquisition, a special-purpose acquisition company, is paying $185 million in cash and stock to purchase Safe Harbor from Partner Colorado Credit Union, which launched the lending unit last year.

Large and regional banks are not only slashing overdraft fees, they’re introducing small-dollar loans to help customers cope with income shortfalls. The policy changes made recently by just five banks could save consumers as much as $2 billion a year, according to a new analysis.

Overdraft fees have been a reliable revenue source for decades, but the charges have fallen into disfavor amid regulatory scrutiny and competition from neobanks. Here's a look at the steps various large and midsize banks are taking to reduce or eliminate the fees, as well as their plans for what's next.

Multifamily and specialty finance loans, which were highlights during the fourth quarter, should increase further in 2022, company executives said.

Christopher Del Moral-Niles, who has been at the Wisconsin bank since 2010, is credited with helping the company raise capital, exit the Troubled Asset Relief Program and improve its ratings profile.

The Buffalo, New York, bank is tweaking its loan mix and reducing some deposits in interest-bearing accounts. It says the moves should boost its net interest margin, which has declined in almost every quarter since the start of the pandemic.

The government has become more skeptical of mergers, but the Minneapolis company expressed confidence it can maintain its original timeline for the $8 billion acquisition. Separately, it announced substantial changes to its overdraft program that will, among other things, eliminate fees for nonsufficient funds.

The nation’s sixth-largest bank will offer a $750 line of credit to customers who need short-term liquidity, and will gradually become less reliant on older accounts that charge the controversial fees. With the plans, Truist is moving in the same direction as many large and midsize banks.

Citigroup CEO Jane Fraser is nearing the end of her organizational overhaul after deciding to cut loose retail-banking operations in Mexico. She will make the case at an upcoming investor day that the company is on the verge of producing stronger shareholder returns.

The branches will provide services in clients’ preferred languages and employ local residents. Executives say the strategy will help M&T pull in new customers at a time when nonwhite populations are expanding.

Citigroup announced Tuesday that it plans to exit retail banking in Mexico, less than a year after Fraser said “there’s a lot to like in the franchise over the longer term.” She explains her new thinking.