Finance

The murder of George Floyd shocked the national psyche to its core, spotlighting the persistent, systemic racism that exists in many American institutions, which continues to disenfranchise those who live within the Black community.

As the U.S. celebrates Juneteenth, it's imperative that credit unions find ways to ensure all Americans have access to the banking services necessary to thrive.

As the U.S. celebrates Juneteenth, it's imperative that credit unions find ways to ensure all Americans have access to the banking services necessary to thrive.

The North Chesterfield, Va.-based institution joins a list of banks that are also closing to commemorate the end of slavery.

At a congressional hearing, Fed Chairman Jerome Powell discussed steps to get the flow of coins to financial institutions back to pre-pandemic levels, as well as ways to ease other industry burdens.

The bank joins rivals such as Deutsche Bank AG and UniCredit SpA in forging ahead with job cuts that were put on hold at the outset of the pandemic.

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.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

The Federal Housing Administration's move to insure loans with forbearance could help support homeownership opportunities constrained by the coronavirus if one change was made to it, trade groups said.

Groups representing community banks and credit unions generally support the new percentage-based goals set by the Federal Housing Finance Agency.

The group behind NewBank is pursuing a charter with the Office of the Comptroller of the Currency to offer banking services nationwide.