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The paucity of distressed-loan sales indicates that most bankers are confident about the underlying health of their portfolios even as the pandemic lingers and loss reserves remain elevated.

A group led by Stephen Gordon has received conditional approval from the Federal Deposit Insurance Corp. to open Genesis Bank.

Canada’s fourth-largest bank is pressing ahead with big technology investments to cut costs and try to generate more revenue from existing customers, said Erminia Johannson, BMO’s head of personal and business banking for the U.S. and Canada.

The bank trade group called for lawmakers to revoke the industry’s tax exemption and suggested that credit union acquisitions of banks create a “brain drain” of local lending expertise that could slow any economic recovery.

The San Antonio-based company has promoted Paul Vincent to president of its banking unit. Neeraj Singh, previously chief risk officer for Citi’s U.S. consumer bank, has joined the parent company as chief risk officer.

Over the past 10 months the payment industry has seen several products and services of bygone eras that have been reconstituted, repackaged and positioned to help customers and small businesses to manage their finances and cash flow, says Avenue B Consulting's Maria Arminio.

A voluntary effort to include more members of underrepresented groups in the C-suite and on corporate boards would help banks avoid government mandates.

Citigroup’s incoming CEO, Jane Fraser, created a new global operating team aimed at improving accountability among its top executives, as the firm continues to address a litany of concerns raised by regulators last year.

Ant Group and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks.

This is in stark contrast to perceptions that cash can spread pathogens, a concern that has caused many consumers and merchants to downplay its usage.