Retail & Commercial

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.  

The deal for SimplyBank, scheduled to be completed in the second quarter, would give First Financial in Terre Haute, Indiana, additional branches in Tennessee and its first presence in Georgia.

The future of financial services lies in collaboration between big banks and fintech, not conflict.

Bankers should stop thinking of small companies as difficult to serve, Comerica's Brian Haney says; "How does succeeding in small business make the retail bank stronger?"