The Latest

South Carolina Federal Credit Union and G.H.S. Federal Credit Union plan to combine into an institution with roughly $3 billion of assets and more than 176,000 members.

Cryptocurrency kiosks are increasingly suspected of being used in the smuggling of human beings and drugs. Law enforcement agencies need more information about their locations, according to a government watchdog report.

The Louisiana-based company is among a growing number of community banks that have taken on new talent in the wake of competitors' consolidation.

Darrick Weeks takes over from Tom Knothe, who has been interim chief executive since June 2021.

Apollo Global Management has launched a new direct lending platform that offers individual investors access to large corporate loans, making it the latest non-bank lender to try to take advantage of soaring demand for private credit.

Chief Audit Officer Denise DeMaio will join Truist from MUFG, while Chief Information Security Officer Howard Whyte has experience at Boeing, Goldman Sachs and the FDIC.

Mizuho Financial Group, the large Japanese bank, has agreed to buy U.S.-based Capstone Partners to expand in the business of helping private equity firms raise funds.

The nation’s second-largest bank by assets is the latest to roll out changes that will reduce its overdraft revenues. But in cutting its fee from $35, BofA is taking a different tack than many competitors.

Hundreds of bankers and credit union executives are seeking exemptions and changes to a Consumer Financial Protection Bureau proposal to collect race, ethnicity and gender information about small-business borrowers that they describe as burdensome and unworkable.

Billions of government and corporate dollars are pouring into minority banks and community development lenders, complicating the efforts of some investment funds that had similar goals. Still, banks owned and run by African Americans say the equity infusions are small in the context of the nation’s wide racial wealth gap.