Consumer banking
Consumer banking
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Grace Law, a Hong Kong native, seized an opportunity to work in a Chase branch in New York City more than 30 years ago. Today, she seeks ways to ensure her community — immigrants who are frequently overlooked by banks — has access to financial services.
September 25 -
Northwest Bank starts search for new CFO; Plains State Bank acquires wealth management, tax businesses; Bank of America names new heads for North America industrials banking; and more in the weekly banking news roundup.
September 22 -
The nation's largest bank, which acquired the remains of San Francisco-based First Republic following its failure this spring, has completed its plans to close 21 offices this year. But the consolidation effort is likely to continue.
September 22 -
Federal prosecutors say Menendez, a New Jersey Democrat who sits on the Senate Banking Committee, accepted bribes in return for exerting political influence — including helping Fred Daibes, a small-bank executive who had been accused of loan fraud.
September 22 -
Federal Reserve Gov. Michelle Bowman, who has emerged as a leading opponent to the central bank's recent efforts to raise capital requirements, said it was "absolutely imperative" that banks make their concerns heard.
September 22 -
The top five banks have an average reputation score among noncustomers of 70.7 in 2023.
September 22 -
The parent companies of Cape Cod 5 and Fidelity Bank have agreed to combine under a multibank holding company called Mutual Bancorp. The bank units would keep their current names and operate independently but pool resources to improve efficiency.
September 21 -
The top five banks have an average reputation score among customers of 84.1 in 2023.
September 21 -
Eighteen banks announced agreements to sell themselves last month. It was the most active month for bank deals since July 2022.
September 21 -
The banking industry, which has a long history of sponsoring sporting events, is pouring more money into the live-music industry, according to a new report. Music-related events and properties make up 39% of the sector's sponsorship portfolio, up from 25% two years ago.
September 20 -
Boston-based Eastern Bankshares says its premium on the sale of Eastern Insurance Group will help fund the acquisition of Cambridge Trust and build a wealth management powerhouse. But some analysts point out more revenue is being sacrificed than gained.
September 20 -
The lawsuit takes issue with the agency's 2022 guidance on nonsufficient funds fees, a hot-button topic in the banking industry. The FDIC is asking a judge to dismiss the case, arguing that the plaintiffs lack standing to sue.
September 20 -
Denver-based InBank will expand into Georgia and Arizona, part of a wider plan to seize market share and build what one executive called a top-tier SBA lender.
September 19 -
The combination would create a company with $27 billion of total assets, $18 billion of loans and $22.6 billion of deposits.
September 19 -
The service was created to meet institutional clients' needs for real-time payments.
September 19 -
Bankers largely support expanding government-backed farm loan programs, and in general support continued funding for crop insurance. But politics is making swift passage of a traditionally uncontroversial bill challenging.
September 18 -
New-car inventories were rising after years of supply-chain woes. But the stalemate between auto manufacturers and their employees could change that dynamic — and cause knock-on effects for lenders.
September 18 -
The Japanese technology conglomerate withdrew its application to the National Credit Union Administration on Sept. 5, marking its fourth failed attempt to establish a financial institution in the U.S.
September 18 -
USAlliance Federal Credit Union names Harry Zhu as its next president and chief executive; HSBC launches business account-opening portal in 20 countries; Swift enters next phase of its central bank digital currency solution and more in the weekly banking news roundup.
September 15 -
Carrie Tolstedt, the company's former retail banking chief, was sentenced to three years of probation, including six months of home confinement. A federal judge detailed why she denied the stiffer sentence sought by federal prosecutors, who wanted to send a message about the consequences of white-collar crime.
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