Finance

Urbana Postal Credit Union is the latest in a string of closures and rebrandings as CUs chartered to serve post office employees attempt to stay relevant.

Overall loan growth at the Tulsa, Okla., company was muted, however, as an increase in early paydowns lowered commercial real estate loan balances.

With Wirecard's value tumbling since a Financial Times report two months ago alleging an accounting scandal in its Asian operations — and a followup Wednesday reporting that half of its revenue comes from "three opaque partner companies" — the German payments processor received a lift from a €900 million ($1 billion U.S.) investment from Japan's SoftBank.

The company, which is planning to revamp its organizational structure, has seen a sharp increase in funding costs over the past year.

Banks need to ensure those building new business are driven to look for evidence of illegal activity.

Silicon Valley, New York, London and several of China’s largest cities are the world’s leading fintech hubs, but many other locales are gunning for their crown.

Entegra Financial, which had a deal to be sold to SmartFinancial, has instead agreed to be sold to First Citizens, which offered more money and will pay a breakup fee for the initial deal.

The Decatur, Tenn.-based institution earned just $60,000 last year as its net worth ratio declined.

Now that the Cincinnati company recently completed its first bank acquisition in over a decade, CEO Greg Carmichael is pushing ahead on tech hires and expansion outside its Midwestern core.

Money managers, which are critical to the success of State Street and Northern Trust, are aggressively moving cash into higher-rate products.

The Raleigh, N.C.-based institution said it also has more than 500 employees.

CEO Kessell Stelling said he thinks about Synovus' depressed stock price daily, even though his team is ahead of schedule cutting costs from a deal that closed in January.

Fifth Third bought MB Financial in the quarter and benefited from increases in corporate banking revenues and a slight improvement in credit quality.

The Salt Lake City bank saw growth across all lending categories and an improvement in credit quality. It also said it has finished the second of three stages in its multiyear conversion to new core-banking technology.

The two banks, which plan to complete their merger by early fall, have little geographic overlap, so they can keep lending teams in place and push for immediate loan growth, according to Craig Dahl.

The bank is expecting to benefit from the discount airline's first flights to the Aloha State even as a white-hot local housing market starts to cool.

Getting consumers to switch to electronic statements is difficult but there are a few strategies credit unions can try to encourage them to go digital.

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.

Whether JPMorgan tipped its hand on a succession plan; U.S. Bank hires its first chief digital officer; all eyes on CFPB as it modernizes its debt collection rules; and more from this week’s most-read stories.

Readers debate the Federal Reserve's potential entry into real-time payments, consider the Consumer Financial Protection Bureau's guidance for assessing fines, discuss the efficacy of financial education programs and more.