Consumer banking
Consumer banking
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PayPal does its part in Ukraine, recognition for U.S. Bank and more in banking news this week.
March 18 -
Lynn Fuller, a onetime CEO of the Iowa company, called his ouster “retaliation” for publicly criticizing Heartland’s strategy. He had planned to step down as chairman in May.
March 18 -
The California bank will let customers of a neobank called BayaniPay Wallet use its branches.
March 17 -
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 -
The Vernon Hill-led bank is being buffeted by a board rebellion, a lawsuit and a burgeoning proxy fight all tied to the complaints of two investor groups that say their returns are subpar if not in the negative.
March 16 -
The two Wisconsin banks have roughly $3 billion of assets and more than 20 branches.
March 16 -
Central Pacific Bank is trying hard to appeal to young residents of Hawaii as well as the mainland U.S. and Japan. It's positioning its new digital checking account as a lifestyle brand as much as a financial product.
March 15 -
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 -
The bank announced the departure of two longtime directors and the addition of four new board members. CEO Jerry Plush is becoming chairman as part of the shake-up.
March 14 -
Under procedural changes recently adopted by the Consumer Financial Protection Bureau, the director could pursue more enforcement actions administratively without federal court approval. Financial firms may have a harder time defending themselves as a result.
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 -
The syndicated loan, which was led by Citizens Trust Bank in Atlanta and Carver Federal Savings Bank in New York, marks the first time that a professional sports league has gotten a loan financed entirely by Black-owned banks. Those involved hope it starts a trend.
March 10 -
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 -
Citigroup, in the midst of overhauling its businesses in Russia when the country went to war, has seen efforts to sell a consumer banking unit there stall and is helping some employees transfer abroad.
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 -
Some consumer protection initiatives, including those aimed at limiting overdraft charges and capping interchange fees, might have contributed to this lingering issue, a new Government Accountability Office report says.
March 8 -
Liberty Bank and Texas Capital Bank are among those trying to attract new online-only customers while experimenting with technologies to benefit the institutions overall.
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