Retail & Commercial

The California bank sued a former executive for allegedly taking trade secrets and using them to build a rival fintech. A recent interim ruling frees Aeldra Financial to move ahead with fundraising while the case continues.

These venture capital firms are investing in young companies that could help small financial institutions meet their growing technology needs.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

Goldman Sachs Group, in an effort to win more deposits and build out its transaction banking segment, is offering companies slightly higher interest on their accounts if they meet environmental or other socially responsible goals.

Piermont Bank in New York expects to double its $347 million of assets in a year by extending working capital to financial technology companies. MainStreet Bancshares in Virginia is taking a different approach, hoping a new banking-as-a-service offering will help investors see it as more cutting-edge.

UBS Group is starting a digital wealth manager in the U.S. to grab a bigger share of the country’s market for retirement savings and stock options, in a move that will pit it against the top Wall Street banks on their home turf. 

Businesses trying to meet a surge in demand for consumer goods are knocking on community banks' doors to finance expansions.

The hiring of Scott Dienes, a former Wells Fargo banker, is part of a broader plan to boost lending at the Wisconsin company.

During third-quarter earnings calls, Bill Demchak of PNC raised concerns about stablecoins, while Jane Fraser of Citigroup pledged that there will be accountability for fixing her company's regulatory troubles and Jamie Dimon of JPMorgan Chase sounded downbeat about the Biden-era regulatory environment.

The state has a poor track record of managing customer-facing operations. It’s difficult to see an upside in the current push for a state-run bank — especially when neobanks are already offering the same services it would provide.