The Latest

Steven Black was a board member of BNY Mellon when Wells CEO Charlie Scharf led the trust bank. He will become Wells Fargo’s fifth chairman in five years.

JPMorgan Chase revamped the rewards on its popular Sapphire cards as the fight to win affluent customers continues to escalate.

The Arkansas bank has hired an 11-member team to develop its new operation. Much of the team joins from TCF Financial, which was sold to Huntington Bancshares in June.

Banks are traditionally the target of anti-money-laundering regulations and law enforcement’s efforts to crack down on illicit finance. As the cryptocurrency sector grows, policymakers may subject it to customer identification requirements and other measures, analysts say.

Ann Arbor Bancorp had agreed to buy FNBH in February 2020 but backed off four months later amid economic uncertainty. The two sides have reunited, though the price tag rose.

While other digital payment providers have partnered with banks to improve their offerings, Circle's plan would enable it to offer regulated financial services in-house to complement its U.S. Dollar Coin cryptocurrency.

The $1.5 billion-asset SAFE FCU in Sumter, South Carolina, is combining with the $3 million-asset Sumter City Credit Union.

As tech giants rush into point-of-sale lending, the smaller companies that built the market are counting on acquisitions and partnerships with specialized vendors to defend their turf and pull in new borrowers.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.

David Willis, the Oklahoma City credit union’s co-president and chief operations officer, has been selected as Kloiber’s successor and will take the helm on Sept. 1.