Finance

The partnership with the e-commerce giant could help PayPal overcome muted fourth-quarter sales due to supply-chain issues and other factors changing consumer spending.

The Florida bank's agreement with the core provider FIS is expected to reduce annual expenses by $12 million. Analysts expect more banks to make similar moves.

Jack Dorsey's payments company wants to reach a younger demographic while also giving adults more reasons to use its peer-to-peer service.

The mortgage giant’s net worth of $42 billion at the end of the quarter was more than double what it was a year earlier. CEO Hugh Frater said that financial strength puts the company on better footing to support affordable housing goals outlined by the Federal Housing Finance Agency.

The combined refinance and purchase total was nearly double the average quarterly volume logged before the pandemic, the company said in its third-quarter earnings call.

The Texas bank, which has spent six years reducing its exposure to fossil fuel companies, aims to bottom out at around 5% of its total loan portfolio.

Steve Steinour, the Ohio bank’s CEO, said the slowdown in car manufacturing due to the global chip shortage will continue to stifle loan demand in the months ahead.

The deal for Michigan-based Flagstar Bancorp, announced in April, was originally expected to be completed by the end of the year. The New York bank’s CEO expressed optimism that it will still get regulatory approval.

The credit card issuer benefited from consumer loan growth in the third quarter, but investors seemed spooked by increases in its marketing and technology costs.

These venture capital firms are investing in young companies that could help small financial institutions meet their growing technology needs.