Americas

Credit unions in the Great Lakes State saw widespread membership growth in 2019 but it was the third consecutive year in which the pace of growth slowed.

First State Bank, which the FDIC sold to MVB Financial, had struggled with profitability and capital levels for several years.

Mastercard has increased the contactless payment limit to CA$250 across Canada to provide consumers with a safer way to pay during the coronavirus pandemic.

The Oregon-based institution is the latest to offer bonus pay for branch staff facing additional risks by coming to work.

South Jersey Gas Employees Federal Credit Union will merge into Jersey Shore Federal Credit Union on June 1.

Alabama Rural Electric Credit Union will merge into Alabama One later this year, creating a combined institution with a reach across 57 counties.

Payments gateway and financial crime compliance technology provider Pelican is partnering with Banking Labs to serve banks and corporations in Canada.

The St. Paul, Minn.-based institution will provide a 20% bonus to member-facing staff who are at additional risk during the outbreak since they are "essential employees."

While some big banks have pledged to avoid layoffs this year, hiring freezes and delayed projects are becoming the norm during the pandemic.

Weak demand for oil and gas, brought on by the economic fallout of the coronavirus outbreak, has raised concerns of energy firms missing loan payments or even going bankrupt. Here’s how banks and regulators are trying to get ahead of potential problems.