Finance

Prepaid customers’ COVID relief spending boosted the bank’s bottom line in 2020, but executives don't count on a repeat performance.

The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

With the SEC probing Ripple, MoneyGram sidelines its partner to nurture online operations, which hit a milestone by surpassing in-store Walmart remittances in December.

Rapid changes in payments and regulations have blown open the door to new ideas, creating frontiers for fintech investors. Javier Perez hopes three decades of experience will help him have an early read on startups.

Net income and loan volumes at the Michigan-based credit union were both down in 2020 but noninterest income shot up 41% thanks in part to participation in the Paycheck Protection Program.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

Harris Simmons of Zions Bancorp. warned that excess deposits could suppress loan demand and pose an inflation threat, while Darren King of M&T tried to reassure investors that deposits will be less volatile than some fear once the economy improves.

Marcus Martin will be responsible for expanding sustainable investing options for the Minneapolis company's corporate and commercial customers.

The tech giant says it will benefit heavily from its 2019 purchase of Worldpay as it seeks to provide digital payment services to merchants.

The arrangement, which focuses on merchant services, comes about six months after Global Payments secured a similar partnership with Amazon Web Services on the issuer side of its business.

Its success was driven by its support for buying and selling cryptocurrencies and its entry into the buy now/pay later market.

Its success was driven by its support for buying and selling cryptocurrencies, and its entry into the buy now/pay later market.

Balance, an API-based checkout solution designed for B2B e-commerce, has raised $5.5 million to launch operations with backing from Lightspeed Venture Partners, Stripe, Affirm and PayPal cofounder Max Levchin.

A group led by Stephen Gordon has received conditional approval from the Federal Deposit Insurance Corp. to open Genesis Bank.

Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the economy.

Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

Cross-border payments technology provider Routefusion plans to expand its embedded software services and global partnerships after a recent funding round.