Consumer banking
Burke & Herbert, which is based in Alexandria and has been in operation since 1852, has joined a long list of banks planting their flags in Richmond, where the overall deposit market has grown 32% in just five years.
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Nearly a quarter of respondents in a recent Credit Karma survey said that their total debt increased after using “buy now, pay later” services, which allow users to pay off purchases in installments over a few weeks.
March 17 -
Dontá Wilson, American Banker’s Digital Banker of the Year for 2021, succeeds Brant Standridge, who recently left the North Carolina company for a position at Huntington Bancshares.
March 17
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Mike Roffler takes over at a time when the San Francisco bank’s focus on mortgage lending is expected to come under pressure from rising rates.
March 14 -
CEO Nitin Mhatre, who joined the Massachusetts bank in 2021, said that any M&A deal is at least a year away. For now, the bank is working with fintechs as a way to bolster its balance sheet and deliver exceptional customer experiences.
March 11 -
Lynn Fuller, whose family has held leadership roles at the Iowa bank for nearly 60 years, blasted a plan to consolidate the company’s 11 banking charters and advocated for the sale of the organization.
March 9 -
Citing customers’ increased adoption of digital services over the past two years, banks are shrinking their physical presence, while also renovating the locations they keep — but credit unions are bucking the trend.
March 9 -
Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.
March 8 -
The Columbus, Ohio, bank plans to cut the price to consumers who spend more than they have from $36 to $15. In another change designed to help customers who live paycheck to paycheck, it will start offering instant access to check deposits.
March 8 -
The misclassification of certain cash flows in 2021 was a “material weakness,” according to a securities filing. Management restated the relevant financial statements and promised to lay out a “plan to remediate” the issue.
March 4
