Finance

Data from the National Credit Union Administration shows that despite a dip during the second quarter, the rate of industry consolidation has not changed dramatically from last year, despite the pandemic.

The company said migration to digital channels spurred its decision to shutter locations across five states.

All parts of the payments industry can preserve cash, but mandates may be necessary, says Moorwand's Luc Geuriane.

Betsy Cohen, formerly of The Bancorp Bank, and venture capitalist Ryan Gilbert have created a vehicle to raise hundreds of millions of dollars, purchase a technology company and expand it.

Record profits from trading and other capital markets activities helped to offset steep revenue declines in personal and business banking.

With the USPS emerging as an election-year flashpoint, postal banking is an idea that could gain steam. But a number of proposals are out there, and they have wildly varying implications for financial inclusion.

New data from the state regulator showed that assets at credit unions in the Badger State grew by 28% during the first half of this year, versus growth of 14% in the first six months of 2019.

Remitly has added 11 new mobile wallets to its network, almost doubling its reach to 300 million consumers, to meet demands for cash alternatives amid the COVID-19 pandemic.

Socure, which applies machine learning to spot identity fraud, has raised $35 million in a new funding round from venture capital funds and banks.

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a sharp rise in provisions for future losses.

Whether the number of deals for 2020 can come close to last year's record-setting level will come down to one question: Can community banks generate strong enough profits in the second half to justify their independence?

The 2020 election has tossed the U.S. Postal Service under extreme scrutiny, pressuring the institution at a time when it has become a potential catalyst for financial inclusion.

Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls.

Executives and boards are bracing for elevated loan losses and stagnant revenue, which will mean more conversations about belt tightening as opposed to added investment.

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.

Billionaire Jack Ma’s Ant Group generated about 9.2 billion yuan ($1.3 billion) of profit in the March quarter, offering investors a glimpse of its earnings power in the run up to its mega initial public offering.

Banks and other lenders have found a way to potentially make billions of dollars from the coronavirus-fueled upheaval in the U.S. mortgage market — yet it risks burning bond investors in the process.

Observers say the rare denial is rooted in skepticism that a new bank can succeed under current economic conditions and a signal to other proposed banks to hit the pause button.