Consumer banking
Sumitomo Mitsui Banking Corp.'s new consumer-focused digital bank will be born out of its Manufacturers Bank subsidiary — a relatively small commercial bank with nine branches and no consumer business to speak of.
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Drake Bank in Minnesota is working with the fintech B Generous to test whether installment loans can help bring in larger donations to nonprofits.
August 29 -
The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.
August 26
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Auto loan growth eased substantially in the second quarter amid competitive pressures from credit unions and other lenders.
August 26 -
The Canadian bank, which reported its quarterly earnings Thursday, recorded $22 million in charges related to its acquisition of First Horizon. Executives say they still expect the deal to close no later than January.
August 25 -
The Center for Responsible Lending, the Woodstock Institute and other left-leaning groups argue that the $13.4 billion merger will harm low-income communities, reduce small-business lending and add to systemic risk.
August 24 -
Staff feedback is crucial to tailoring benefits and designing new workspaces, experts say.
August 23 -
A growing number of challenger banks and fintechs are trying to help customers live more sustainable lives through carbon calculators with localized data.
August 23 -
More than half of the nation's 20 largest commercial banks, including Citigroup and PNC, have stopped charging nonsufficient-funds fees, and another four are scheduled to end the practice by year-end. That leaves three holdouts: SVB Financial, Huntington and MUFG Union Bank.
August 18 -
As regulators mull the Toronto bank's deal for First Horizon and broader guidelines around bank combinations, community groups called for stronger investment commitments from the two banks before they are allowed to merge.
August 18
