The Latest

The mobile technology craze is starting to sweep up loyalty programs, placing pressure on banks to brush up the reward redemption experience to meet consumer expectations.

The third quarter ends in two weeks, and top executives at Citigroup, Wells Fargo, and two regional banks are raising concerns about cost pressures, impediments to revenue growth and heightened lending risks.

MONTGOMERY, Ala. — The Alabama State Employees (ASE) Credit Union has named Jared Freeman as its new chief executive officer, succeeding Ned McHenry, who will retire on Sept. 30, after 26 years of service at the CU.

The $3.4 billion-asset company plans to use the proceeds for general corporate purposes, possible acquisitions and capital investments in Bridgehampton National Bank.

The $2 billion-asset company said in a press release Wednesday that Douglas Glenn resigned as president and chief executive. Glenn, who was 48 as of the company's April 27 proxy, also resigned as a director. He had been the chief executive since August 2011.

Elizabeth Warren, D-Mass., and David Vitter, R-La., the lead sponsors of a bill to place more explicit limits on the Federal Reserve's emergency lending powers, say the bill is getting quashed by a full-court press from banking interests.

A CU-fueled collaboration has produced new insights into the keys to successful partnerships.

The window for moving financial services regulatory relief through Congress is rapidly closing, but there appears to be little hope that the partisan tensions that have stalled the process will ease in time.

A Federal Reserve decision is expected soon on M&T's long-delayed application to buy Hudson City Bancorp. M&T would still get strategic benefits it sought, but Hudson City has shrunk and become less profitable since it agreed to sell three years ago, and the cost of the deal has risen.

ALEXANDRIA, Va. — NCUA has accepted a judgement offer of $129.6 million from Royal Bank of Scotland to resolve claims from losses related to purchases of residential mortgage-backed securities by Members United and Southwest corporate credit unions.