Retail & Commercial

Dinesh Chopra is online bank's first-ever chief strategy officer.

Fintechs should learn to value risk management — and the necessary bureaucracy that comes with it, bankers said this week in defending themselves again criticism that they are a pain in the neck to work with.

Endeavor Bank in San Diego aims to be the third new bank to open this year. There is hope that as many as eight new institutions could open in 2018.

Comerica's chief accounting officer since 2010, Carr will replace David Duprey, who is retiring early next year.

The company has agreed to buy CBBC Bancorp. It also raised $63 million to pay for the deal and fund future growth.

Mobile banking, oddly enough, is redefining the role of call center agents as customers handle routine tasks on their smartphones and reach out for help with bigger-picture questions.

While the U.S. unemployment rate is low at 4.1%, certain cities are adding jobs at a much-faster clip than others in sectors such as health care, construction and technology. Those markets are providing new opportunities for banks to bring in deposits and make more loans.

The heads of some of the largest U.S. banks are calling for a new security-focused mindset among executives, better forms of ID and collective action in the aftermath of the Equifax breach.

More FHA homeowners than expected are refinancing out of the program and into conventional mortgages, despite an increase in mortgage rates over the past year.

The San Francisco-based lender still posted losses in its portfolio, although those declined considerably from the year-ago period.