Retail & Commercial

At a time when many lenders are shying away from an industry hit hard by the pandemic, State Bank of Texas is going all in.

When Jane Fraser takes the reins of Citigroup in February, she will have to tackle the company’s cards slump, lagging performance metrics and challenges presented by employees’ return to the office.

The bank said the move will provide more flexibility raising capital and more options when it comes to pursuing bank acquisitions.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

Robotic process automation is normally the province of large banks, but Extraco Banks in Texas and Carter Bank in Virginia are training bots to perform repetitive, mind-numbing tasks.

As the coronavirus began to sweep through Europe and the U.S. during the early spring, Phillip McGriskin was in the middle of a crucial funding round.

The bank discovered the actions, all of which were tied to the SBA's Economic Injury Disaster Loan program, after noticing that suspicious amounts of money had been deposited into checking accounts owned by bank employees, according to a person with knowledge of the matter.

Citigroup named Hassan to the new role as part of a move to combine its marketing and branding divisions.

The company and its global peers have seen their profitability hurt by half a decade of negative interest rates, which effectively make banks pay for holding clients’ cash.

Driver Management, a bank investor, alleges that First United in Maryland made false claims and improperly lobbied lawmakers to keep its nominees off the board. The bank asserts that it acted properly in response to an attempted hostile takeover.