Finance

The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes.

CenterState and South State are the latest regionals to announce a deal driven heavily by the need to compete with larger banks that can afford to spend more on cutting-edge technologies.

Facebooks’ Libra cryptocurrency project has been losing high-profile support for months, but the loss of Vodafone may be its most critical.

Visa, along with Google Ventures, invested in an $80 million Series E fundraising round in cross-border B2B payments provider Currencycloud.

The move by the European bank regulator is a policy shift as profitability at the region's banks continues to suffer from negative rates; the German bank paid $1.1 million to win business from a senior Saudi royal.

The Georgia bank's operating costs rose in the fourth quarter, but executives sought to assure shareholders that investments will produce revenue growth in the long run.

The Michigan-based CU celebrated its latest milestone during its 69th year of business.

As more consumers order in using such services as Uber Eats and Grubhub, restaurants are selling fewer desserts, drinks and other high-margin items, said CEO Rajinder Singh.

American Express has focused the past few years on overcoming a couple of its stigmas — that not all U.S. merchants accept Amex cards, and that younger cardholders were not intrigued by the status of holding an Amex card.

The company will acquire the parent company of First National Bank of Manchester and Bank of Waynesboro for $85 million.

Two major banking organizations objected to a proposal by the agency that would expand the pool of investors in subordinated debt issued by credit unions. They fear it could provide credit unions more financing to buy banks.

The company will pay $64 million to significantly increase its scale in the Tampa Bay area.

There are no provisions in a new NCUA plan that outright bar credit unions from leveraging subordinated debt to acquire a bank. The long-awaited rule on bank purchases, also released Thursday, merely clarifies existing regulations rather than adding new components.

Commercial lending was sluggish in 2019, but leaders at Huntington, KeyCorp and M&T are encouraged that rates are stabilizing and business sentiment is improving.

The Madison, Wis.-based think tank's latest initiative is another sign of the increasing emphasis the credit union industry is placing on diversity, equity and inclusion.

Regulators already finalized a rollback of the proprietary trading ban section of the rule but signaled then that their overhaul was not finished.

While the size of the global remittances market may ebb and flow with the global economy, one thing is clear – it’s massive, at over $700 billion in payments each year and growing.

Moving to an open banking system comes with both costs and benefits that each bank will need to weigh before diving in.

Bank for International Settlements report says central banks don't have tools to handle climate change; banks could face different CRA rules.

Ally and other direct banks continue to report strong deposit growth even as they slash the rates they pay to depositors. The trend suggests that the online-only approach has more staying power than its detractors believed.