Consumer banking
Consumer banking
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California Bankers Association taps insider as next CEO, Spotify cuts off subscribers who use Apple's high-cost payments, Relay Payments backs auto-racing team and more in this week's banking news roundup.
July 7 -
Deposits of Listerhill and Avadian credit union customers were compromised by fraud conspirators, one instance in a rise of card skimming cases across the country.
July 7 -
The acquisition of Malvern Bancorp, expected to close this month, would hasten First Bank's efforts to further fortify its footprint stretching from Philadelphia to New York City.
July 7 -
Under a written agreement, Quontic pledged not to distribute capital without the permission of its regulators. It's the third enforcement action in five years against the small New York-based bank.
July 6 -
Eligible borrowers would receive a credit for up to $5,000 to pay for expenses like insurance, taxes and closing costs. The program comes months after fair-lending advocacy groups criticized KeyBank for its low rate of lending to Black borrowers.
July 6 -
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The Consumer Financial Protection Bureau wants to wipe out $9 billion a year in consumer costs by cutting credit card late fees to just $8. But consumer complaints about late fees remain low, and experts say that's because many first-time late fees are forgiven.
July 6 -
The company's longtime chief executive, Mark Tryniski, plans to retire at the close of 2023. Dimitar Karaivanov, the current chief operating officer, will succeed him.
July 6 -
AI and machine learning are the future of banking and financial services. Regulators and policymakers need to keep the pace.
July 6 -
Michigan State University Federal Credit Union and its peers are streamlining branch design and staffing to improve customer service while managing the rising costs of real estate and construction.
July 5 -
Few large banks fully support the Spanish language. Those making the effort, including U.S. Bank and Square, could better reach a fast-growing population.
July 5 -
Byline Bancorp completed its acquisition of Inland Bancorp on time, avoiding the kind of regulatory delays that have dampened bank M&A activity for the past 18 months.
July 5 -
Jackie Reses, one of American Banker's Innovators of the Year for 2023, has started a de novo that will serve fintechs and crypto companies.
July 5 -
This week in global news, Mizuho opens generative AI to staff, BBVA organizes to fight fraud and more.
July 5 -
Merling is one of American Banker's Innovators of the Year.
July 5 -
Bonds backed by car loans made by U.S. Auto Sales and American Car Center, two used-car dealers that shut their doors earlier this year, have been veering into distress in recent weeks. Meanwhile, borrowers have been falling behind on payments.
July 5 -
The Home Loan banks are failing to serve huge numbers of Americans because of their reliance on outdated credit scoring models.
July 5 -
As President Biden tries to revive a key campaign promise to provide widespread debt relief to student-loan borrowers after a Supreme Court setback, legal experts warn that he's likely to encounter a fresh wave of lawsuits challenging his authority to act without congressional approval.
July 5 -
Banks know what they're looking for. Here are key ways to show them that you can bring it to the table.
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