Finance

Mobile payments and open banking open a new world of access, but also a need to shore up data protections, says Global Processing Services' Shaun Puckrin.

In one of the first comprehensive analyses of how the banking industry was affected by the onset of the coronavirus pandemic, the agency said quarterly income fell by nearly 70% from a year earlier.

As they prepare to exit government conservatorship, Fannie Mae and Freddie Mac have enlisted the investment banks to help them boost capital and evaluate market opportunities.

The Michigan institution's asset base increased substantially in 2019 thanks to a merger but has continued to grow in 2020.

The last bank where he was CEO, Opus Bank, ran into trouble largely because it made too many acquisitions in too short a time span. This time around, Gordon will take a more methodical approach.

First-quarter income for credit unions chartered in the Badger State increased by about 6% from the same period one year earlier.

APEXX Global has completed a Series A fundraiser, bringing in $8 million from existing and new U.K. and Scandinavian investors to expand its payments platform.

The industry was well positioned in terms of net worth before the pandemic and recession, but some institutions could run into issues with sluggish earnings and a surge in deposits.

The regulator cited "unsafe and unsound practices" at the Georgia-based institution, which is the first credit union to be conserved this year.

Organizers of Coastal Community Bank withdrew their application after the pandemic disrupted efforts to raise capital.