Sumitomo Mitsui Banking Corp.'s new consumer-focused digital bank will be born out of its Manufacturers Bank subsidiary — a relatively small commercial bank with nine branches and no consumer business to speak of.

Companies like VizyPay, Stax and Carbon Zero Financial seek fresh ideas from people who built their careers in retail, food service and other verticals.

The financial industry is offering loans for solar energy projects, carbon emission trackers, green mortgages and cash-back incentives to help customers go green.

The bottom 50% of U.S. households, generally those with a net worth of $166,000 or less before the pandemic, are in the strongest relative financial position in a generation, according to the Realtime Inequality tracker.

The New Jersey bank hired Ravi Vakacherla after People's United was acquired by M&T Bank this March. The role is one of a number of new executive roles overseeing digital innovation in the banking industry.

Drake Bank in Minnesota is working with the fintech B Generous to test whether installment loans can help bring in larger donations to nonprofits.

The cybersecurity crisis arising from super-fast computing is approaching more quickly than the industry and its regulators may realize.

More than 30,000 of the bank's customers have already updated their credit cards to show their chosen name instead of their legal name, and the bank expects a similar response from debit card users.

A decade ago, Think Finance partnered with Native American tribes in an effort to avoid state interest-rate caps on consumer loans. After the company's legal woes finally ended this month, court documents shed light on its rapid rise and steep fall.

Verifying the identity of a business is a much more complex task than verifying the identity of an individual, yet the underlying technology used in both is the same.

The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.

Auto loan growth eased substantially in the second quarter amid competitive pressures from credit unions and other lenders.

The Canadian bank, which reported its quarterly earnings Thursday, recorded $22 million in charges related to its acquisition of First Horizon. Executives say they still expect the deal to close no later than January.

From consumer credit to deposits to inflation, President Biden's move to excuse up to $20,000 in student debt per eligible borrower will have ramifications throughout the banking sector.

Affirm must demonstrate it can maintain healthy loan growth to regain investor confidence when reporting earnings results Thursday, while Klarna unveils results next week.

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.

The new law relies partly on U.S. companies paying higher taxes to raise money for climate change and health care initiatives. Here's how banks will be affected.

The Center for Responsible Lending, the Woodstock Institute and other left-leaning groups argue that the $13.4 billion merger will harm low-income communities, reduce small-business lending and add to systemic risk.

The state's disclosure laws generated data that indicated millions of consumers had their personal details potentially compromised.

Sumitomo Mitsui Banking Corp.'s planned subsidiary will focus on consumers, marking a major departure for a company that has focused almost exclusively on commercial lending.