Industry News
BofA has launched two programs, one focused on increasing homeownership for Black and Hispanic Americans, and the other on small businesses owned by women and minorities that buy commercial real estate in federal opportunity zones.
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The banking and payment services company hopes to attract young talent.
August 30 -
The bottom 50% of U.S. households, generally those with a net worth of $166,000 or less before the pandemic, are in the strongest relative financial position in a generation, according to the Realtime Inequality tracker.
August 29
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The New Jersey bank hired Ravi Vakacherla after People's United was acquired by M&T Bank this March. The role is one of a number of new executive roles overseeing digital innovation in the banking industry.
August 29 -
Auto loan growth eased substantially in the second quarter amid competitive pressures from credit unions and other lenders.
August 26 -
The Canadian bank, which reported its quarterly earnings Thursday, recorded $22 million in charges related to its acquisition of First Horizon. Executives say they still expect the deal to close no later than January.
August 25 -
The Center for Responsible Lending, the Woodstock Institute and other left-leaning groups argue that the $13.4 billion merger will harm low-income communities, reduce small-business lending and add to systemic risk.
August 24 -
A data breach in 2022 costs companies $4.35 million on average, an all-time high according to IBM research.
August 24 -
Interest-free credit and fast approval make BNPL an attractive payment option for consumers, who are increasingly using short-term installment credit to manage their cash flow when paying for immediate, small-dollar purchases.
August 22 -
The North Carolina bank bought technology from Zaloni in an effort to boost data collection, metadata management, advanced analytics, artificial intelligence and machine learning.
August 22
