Retail & Commercial

In his annual letter to shareholders, M&T Bank chief Robert Wilmers laid out in compelling detail how government policies intended to protect American families have ultimately stymied economic growth.

Speaking at a town hall event in Washington, JPMorgan Chase CEO Jamie Dimon said that post-crisis regulations have made mortgages too costly for consumers — and made homeownership unattainable for borrowers with low incomes or blemished credit histories.

The deal includes $52.6 million in deposits and $13.2 million in loans, and the bank has indicated it plans to close two more locations in Wisconsin in June.

The neobank Compte-Nickel has opened more than 540,000 accounts since its launch three years ago.

The company will sell five branches in Wisconsin to an unnamed buyer. It also plans to close two locations.

First Commonwealth in Pennsylvania is turning to a third party’s specialized software as the CECL standard makes forecasting credit losses more complicated. Other banks could follow.

Banks can make a difference by helping to alleviate customers’ individual financial stress, the cancerlike scourge behind thousands of suicides. But this requires a certain mindset about the industry’s mission.

Research shows younger consumers are increasingly interested in personalized products and services, but credit unions may lose out on business if they don’t have aggregation tools that can compete with fintech lenders.

The executive tasked with rebuilding trust in the retail bank discusses how employees reacted to its new incentive pay plan, why Wells stopped calling its branches "stores," how it now prevents salespeople from impersonating customers, and more.

The Newport Beach, Calif.-based company uses artificial intelligence to help lenders make better decisions about borrowers’ creditworthiness.