The Latest

Two CUs promote key people to new posts, plus more new hires, promotions and special recognition of credit union professionals across the country.

Cecere, 57, will succeed longtime executive Richard Davis, who has served as chairman since retiring as CEO last year.

Tax reform and other regulatory factors could allow Citigroup — and other banks — to maintain high capital levels and strong rewards for shareholders.

The Consumer Financial Protection Bureau said Tuesday it will reopen the payday lending rule, on the same day the controversial rule technically went into effect.

The company agreed to buy First Priority Financial for $82 million in stock.

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.

The activist investor, which has pressured the company in the past to find a buyer, fell short in an attempt last year to gain representation.

Credit unions, trade associations and others wishing to join the Credit Union National Association's class action suit against Equifax have until the end of January to do so.

Kevin Fitzsimmons, who had recently covered banks for Hovde Group, will become FIG Partners' deputy director of research.

Though business owners are more optimistic about the direction of the economy since the tax law was passed, it's doubtful their borrowing will increase meaningfully until they see more signs of more robust growth, bankers say.