Almost 100% of small-bank executives who responded to a recent IntraFi survey say they expect the U.S. economy to fall into a recession by next year. The top reason why: an overcorrection by the Federal Reserve as the central bank tries to tame inflation.

The state’s Department of Financial Services seeks to prevent banks and credit unions from imposing three kinds of “improper or unfair” fees, including overdraft charges when the consumer’s account shows sufficient funds at the time of transaction.

Totem's digital banking app is the first created by and for Native Americans. The challenger bank will help each of its partner tribes offer uniquely branded apps that provide banking services, distribute government assistance and teach users how to build their credit.

A group of congressional Democrats, led by Rep. Carolyn Maloney of New York and Sen. Elizabeth Warren of Massachusetts, are optimistic that an overdraft bill will be taken up in the House later this month. 

GoHenry, one of many digital banks for kids and teens in the U.S., is based in London but is broadening its European presence with the acquisition of the French fintech Pixpay.

Anne Balcer, formerly of Forbright Bank, will take on the role previously held by Karen Thomas, whose retirement was announced last month.

Klarna Bank, which advertises itself as a way to spread the cost of the latest brands and smartphones, is shelling out loans for milk and gas with cash-strapped customers looking for ways to cover basic necessities.

The Nashville bank has recruited a veteran commercial lender in Asheville who had worked with First Horizon, and it has hired four more bankers in Chattanooga.

Bank of Montreal is raising the minimum wage for its U.S. branch and contact-center employees to $20 an hour, its second such pay bump in less than a year, as companies fight for workers in a tight labor market.

Spiking interest rates, increased regulatory scrutiny, and mounting recession fears have all contributed to a deceleration in mergers in 2022.

Rogers Communications is experiencing a widespread network failure in its wireless and internet services, causing payment systems and automated teller machines at banks to go down.

The Philadelphia bank's board acted fast to fill a vacant board seat after a recent court victory, ending a deadlock that kept Hill's position secure.

The latest development removes a custodian that had been appointed to the Philadelphia bank's board, where a vacancy created an opportunity for multiple factions to try to wrest control from CEO Vernon Hill.

Truist Financial is raising the low end of its pay scale to $22 an hour, while JPMorgan Chase is implementing a floor of between $20 and $25. The wage hikes will likely put pressure on smaller banks to take similar steps to stay competitive.

When Walden Mutual opens this year, it will end a decades-long dry spell for de novos owned and governed by depositors.

Data as of Mar. 31, 2022. Dollars in thousands.

The fast-paced rise in rates should be good for banks — until it isn't. The higher interest earned on loan payments will at some point be offset by higher interest paid on deposits. The only questions are: When, and by how much?

Community development financial institutions will receive low-interest loans from Bank of America and use that money to fund the development of primary health care centers in communities of color and rural areas.

The Consumer Financial Protection Bureau ended special regulatory treatment of the financial services company’s earned wage access products. Payactiv says it requested the action after a disagreement with the agency.

The U.S. retail arm of Bank of Montreal plans to reduce the charge from $36 to $15, following the approach taken by M&T Bank and Huntington Bancshares.