Americas

Institutions haven't modernized benefits packages to include deferred compensation, and now the threat of a recession is affecting CEO salaries.

Melinda McClure and Richard Horn have joined the management team at Old Dominion Bank in northern Virginia after struggling to raise enough capital for their de novo effort.

The Los Angeles unit of Royal Bank of Canada plans to use FilmTrack to handle more complex transactions for major networks, studios and distributors.

Klarna raised another $460 million in fresh equity funding, pushing the Swedish company’s valuation to about $5.5 billion.

Mastercard Inc. agreed to buy a payments platform owned by Denmark-based Nets for 2.85 billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into faster payments.

Credit unions not actively thinking about mergers are at risk of missing out, an industry expert warned at a recent conference.

The company will pay $43 million in cash for a bank with seven branches and $209 million in deposits.

With margins under pressure and competition intensifying, a number of community banks are zeroing in on underserved markets.

The German mobile bank backed by Peter Thiel is pressing ahead with its U.S. expansion, betting it can grab share from established lenders and credit-card providers with free accounts, fewer fees and phone alerts that nudge them toward better financial choices.

The Jacksonville, Fla.-based credit union is the initial investor in PayverisCU, which will help members with financial wellness and money management.