Location Root Tag

Andrea Thune will take the helm next month, succeeding Jeffrey Fragale, who is retiring.

Now that its deal with Texas Capital has been called off, Independent Bank in McKinney plans to scale back or exit some commercial lines and will seek to duplicate its retail banking successes in Colorado.

The Mechanicsburg, Pa.-based credit union is on the hunt for its next chief executive after Anna May Nauss's announcement that she will retire at the end of 2020.

Lexicon Bank in Las Vegas, whose chairman was a professional gambler, is actively courting poker players to open deposit accounts for their tournament winnings.

Webster Federal Credit Union and Finger Lakes FCU plan to join forces before the end of the year, though the deal still needs approval from regulators and members.

In what was a challenging quarter for the industry, the company reported strong loan growth and a wider margin. Continued momentum will depend on government stimulus, the reopening of New York City and borrowers' ability to make payments after their deferral periods end.

The financial services industry urged Gov. Tom Wolf to reconsider guidelines that excluded their employees from receiving this benefit.

Citing the benefit of making purchases from home during the coronavirus pandemic, China's UnionPay International is partnering with digital platform Glovo to enable its cardholders in Europe to participate in on-demand shopping.

Republicans and Democrats are negotiating a new coronavirus stimulus package, but there’s still no law on the books designed to erase the problems that prevented many stimulus payments from getting directly to recipients.

Like many other institutions, the South Florida-based credit union had reopened its locations after restricting member access from March to May while much of the nation was in lockdown.

The bill, backed by the New York Credit Union Association, has cleared the Senate, but a companion bill is stuck in committee in the Assembly.

Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.

The Nashville bank had sued Gaylon Lawrence in 2017 over allegations that he was pursuing an illegal takeover, but the two sides announced terms of a settlement.

Three months ago, Stephen Squeri, the chairman and CEO of American Express, declared a global "economic free fall" due to the coronavirus. Its second-quarter earnings show how far a fall it has been.

Home-renovation loans to add features such as offices and pools could be one source of lending as credit unions struggle with overall sluggish loan demand.

Cadmus Credit Union agreed to merge into Chartway Federal Credit Union after one of its select employer groups said it would shutter the facility where its only branch was located due to business issues that arose from the coronavirus.

The Dallas company, which in May terminated a deal to merge with Independent Bank, set aside $100 million for worrisome loans and incurred severance costs after cutting an undisclosed number of positions.

Lloyds Banking Group is partnering with payments technology fintech Form3 to advance its digital payment offerings for bank customers.

Eric Grover, principal at Intrepid Ventures, talks to PaymentsSource senior editor Kate Fitzgerald about how the high-flying German fintech fell to scandal — and whether it could happen again.

The Pennsylvania bank incurred $2.3 million in expenses in second quarter after winding down unit BMT Investment Advisers.