Retail & Commercial

Some of the U.K.'s biggest high street banks are bracing themselves for trouble.

The Office of the Comptroller of the Currency has approved New York Community Bancorp's proposed acquisition of Flagstar Bancorp, the companies announced Friday. The banks are extending the deal deadline to Dec. 31 as they continue to seek the green light from the Federal Reserve.

High-net-worth clients with large policies borrow, on average, $500,000 to $800,000 to pay their premiums. Peapack-Gladstone predicts the product, which it launched this month, will be one of its top business lines within six years.

Truliant Federal Credit Union plans to build three more locations in the northwest corner of South Carolina by the end of next year. The $4 billion-asset credit union also recently opened a regional office in Greenville, South Carolina.

The San Antonio bank reported higher deposit costs, along with larger deposit volumes, during the third quarter.

Kristin Lemkau, CEO of J.P. Morgan Wealth Management, discussed the launch of the company's Personal Advisors hybrid advisory channel and the challenges of managing and recruiting talent at American Banker's Most Powerful Women in Banking conference.

The credit card issuer is still dealing with the effects of a technical glitch in July that affected customer payment rates. But card sales rose in the most recent quarter, and the company is bullish about its positioning in the buy now/pay later market.

Traditional banks are focusing on wealth management services in the next wave of digitization as retail banking returns weaken amid a proliferation of online consumer platforms.

The mobile service provider is offering many standard digital banking features alongside payments to Mexico. One expert is skeptical it will stand out.

Credit Suisse Group reported its fourth straight loss as its investment bank continued to struggle, wealthy clients fled and the lender booked a charge related to a critical overhaul that's been in the making for months.