Finance

Valley National wanted to become more customer friendly, while Washington Federal needed more commercial clients. The leaders of those companies recently discussed the tough decisions they made to bring about much-needed change.

Too many Americans lack a sound grounding in personal financial management, which limits their opportunity to build long-term financial independence.

The California company has not established a time or pricing for the IPO.

The Mexican unit of the fintech Nubank, the world’s biggest standalone digital bank, is getting a $135 million injection to propel its nascent operations in Latin America’s second-largest economy.

Michigan State University Federal Credit Union has doubled in size since 2015, thanks in part to expanding its branch network and field of membership.

The data aggregator, whose planned merger with Visa was called off in January, intends to use the funds to accelerate its global expansion.

The fintech is one of several that have drawn capital to eliminate the challenges of international commerce.

On Dec. 31, 2020. Dollars in thousands.

The financial-technology firm Plaid is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa, according to people familiar with the matter.

Starting Thursday, firms should stop issuing new loans, bonds and securitizations tied to the discredited benchmark, according to the Bank of England.

Organizers of the Florida de novo will need to raise $17 million in capital before opening.

The Michigan company recently paid $70 million to close the books on a matter dating to the last financial crisis.

Large U.S. banks are directing their venture capital dollars to fintechs in capital markets, wealth management and "future-proofing."

The economy is poised to rebound, meaning loan demand and hiring will pick up, some observers say. Others argue that banks have plenty of reasons to cut jobs given industry consolidation, the growth of digital banking and expectations that low interest rates will persist.

The Texas-based institution is the third credit union to be taken over by regulators this year.

Fresh off the heels of a $180 million fundraiser in January, Citi Ventures-backed PPRO raised an additional $90 million in new investments in its latest equity round.

The Dunedin, Fla.-based institution reported an 18.8% surge in assets last year, along with substantial growth in commercial lending, thanks in part to the Paycheck Protection Program.

Truist Financial's venture capital division led the Series A funding round for Greenwood, a platform aimed at Black and Latino customers. Other investors include Bank of America, Citigroup, Mastercard and Visa.

Treasury Secretary Janet Yellen said she prefers to have the Financial Stability Oversight Council flag hazardous activities by nonbanks rather than subject specific firms to heightened supervision.

The tennis legend will also serve as a strategic adviser on gender equality issues and First Women's Bank, which will be mostly owned and run by women.