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Lloyds Banking Group is cutting around 1,600 roles across its branches, part of a push by the lender to provide more services online.

The Bank Term Funding Program, established during last year's liquidity crunch, will stop issuing new loans on March 11. Until then, banks can still borrow from the facility, though at less favorable terms.

The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.  

The private equity firm Caryle is buying a $415 million student loan portfolio from Truist Financial. It's also investing in a nonbank student lender called Monogram that works with banks and credit unions.

John Watt, 65, will step down in May after more than seven years as president and CEO of NBT Bancorp in Norwich, New York. The plethora of internal candidates to succeed him made the decision a no-brainer, Watt says.

The Oklahoma-based regional bank expects 6%-7% loan growth in the year ahead. Executives are also projecting that net interest income will start to improve after the metric hits a trough early this year.

After California was hit hard by the banking crisis of 2023, tens of thousands of commercial and consumer customers turned to East West, helping the company achieve record full-year revenue, its CEO says.

Hood, who was first appointed to the National Credit Union Administration in 2005, explained what drove his focus on financial inclusion and the technology that promises to make it possible.

Charging a nonsufficient funds fee on a debit, ATM or peer-to-peer payment that gets declined immediately would be considered "abusive" under a proposed rule from the Consumer Financial Protection Bureau.

Barclays has redesigned the Cambridge Eagle Lab to focus on companies that develop sustainable and other environmentally focused technology, Vodafone expanded its partnership with global fintech MoneyHub to offer its financial wellness app, and more in this week's global news roundup.