Retail & Commercial

OFG Bancorp's CEO José Rafael Fernández has weathered tough times during Puerto Rico's economic downturn. Now he is hopeful that his bank can seize on the better times ahead.

Relationships with brokers will be terminated on Dec. 6, but company officials stressed there would be no impact to its loan servicing or other mortgage channels.

The regional bank announced a near-doubling of the size of its most-senior leadership team, plus expanded roles for two former SunTrust executives and the hiring of a wholesale banking chief from Wells Fargo. Truist is under pressure to improve both its efficiency and its financial performance.

The $7.7 billion-asset federal credit union in East Lansing announced its third deal in as many months — the planned purchase of in-market peer Gabriels Community Credit Union. And it has two bank acquisitions pending.

Executives at Capital One, U.S. Bank, BMO and Atlantic Union Bank are striving for seamless onboarding and more efficient branch bankers, among other projects on their technology drawing boards.

There's a reason why successful bankers with long careers look back on their time spent as vice presidents as among the best of their working years.

A key gauge of activity that tracks startups most likely to create jobs declined in October, potentially signaling the start of a slowdown after the rapid increase in interest rates. It presents a red flag for community banks and credit unions that are major lenders to small businesses.

Bank failures last spring forced many startup businesses to shift where they store their cash. JPMorgan Chase appears to be the top beneficiary, but other banks say they are just as eager to reel in deposits and do more business with the innovation economy.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.

Amid a deal drought that has dragged on for more than a year, Wells Fargo is cutting 40 to 50 jobs in its corporate and investment bank division, say people with knowledge of the decision.