The deal comes on top of the company’s previously announced agreement to acquire another Wisconsin bank, Denmark Bancshares.

Somerset Savings Bank will convert to a stock-owned bank before merging with Regal Bancorp, the holding company for the $545 million-asset Regal Bank, also in New Jersey.

In her new book, “Direct: The Rise of the Middleman Economy and the Power of Going to the Source,” Columbia Law professor Kathryn Judge examines how middlemen offer — and often limit — consumer choice.

The text of the Overdraft Protection Act hasn’t changed in 10 years, but the banking industry has shifted dramatically.

HSBC Holdings' U.K. unit is planning to stop collecting data on the gender of its customers across some products as the bank pursues more inclusive services for nonbinary and trans people.

The ability to pay with points, get virtual replacement cards and monitor data sharing are all on the list, according to Forrester Research.

The McLean, Virginia, company is starting to “trim around the edges” of its auto portfolio, CEO Richard Fairbank said. That move stands in contrast with Capital One's leaning into its credit card business, which helped push marketing spending above $1 billion.

Banco Santander was eliminated from the bidding process for Citigroup’s Mexican unit, opening the way for a takeover by a local rival.

The Cincinnati bank plans to lean into its retail expansion in the southeastern U.S. after its deposits fell by $6 billion from the first quarter.

The Connecticut bank’s proposed combination with American Challenger Development Corp. was terminated because the two parties didn’t anticipate they could meet the closing conditions. The fintech now says it’s retained Citigroup to explore a possible sale.

To make up for slow growth on their home turf, some credit unions are looking to other states for new members and loans — a move that rankles banks that see such expansion as overreach.

NBT Bancorp’s planned $10 million commercial real estate fund could have a big upside for its CRA rating, while also improving housing in its communities.

The Detroit-based lender has been a major beneficiary of the auto market’s growth during the pandemic. Looking ahead, company executives expect demand to be particularly strong among higher-income customers who have little sensitivity to higher car prices and rising interest rates.

Chief Executive Bruce Van Saun said the Rhode Island bank doesn’t “need to be that greedy” after reporting a 34% rise in net interest income during the second quarter. He laid out plans to trim the bank’s sails in both commercial and consumer lending.

Gov. Kathy Hochul’s latest effort to increase affordable banking access directs New York’s banking regulator to examine total overdraft fees paid in the state, the percentage of fees reduced through negotiations and other related matters.

Bank of America officials say the boost to loan income from rising rates combined with its overhaul of its loan book since the financial crisis will help it weather any potential economic challenges ahead. Analysts had a lot of questions about the bank’s reasoning.

In a quarter filled with economic and geopolitical uncertainty, the New York investment firm’s digital consumer bank achieved record-high revenues. Executives have said they plan to drive up revenues in that segment to $4 billion by 2024.

Investors have grown concerned that 40-year highs in inflation may take a bite out of consumers and lead to credit troubles, but Synchrony executives say consumers are continuing to manage “incredibly well.”

Goldman Sachs Group, Morgan Stanley, JPMorgan Chase and Citigroup each reported a substantially larger workforce in the second quarter compared with a year earlier. Across the six biggest U.S. banks, the average gain in employment was 5.5% compared with mid-2021.

Octane Lending is among the financial companies that have begun adopting software that the startup FairPlay calls "fairness as a service" as regulators scrutinize banks' artificial intelligence-based loan decisions.