Retail & Commercial

Many business customers are putting off expansion because they can’t find enough workers to fill available jobs.

The bank, whose 7(a) originations have plummeted in recent years, is developing a portal that will let applicants upload documents, complete forms and track application progress.

Todd Gibbons, who succeeded Charlie Scharf in September, said tech investments give the custody bank a competitive edge and make it more efficient.

The supervisory letter had required the company to get Fed approval before issuing debt, paying dividends or making quarterly payments on its trust-preferred securities.

Radius Bank is letting consumers open accounts through NerdWallet as part of its banking-as-a-service offerings to reach customers through third parties.

Named interim CEO in August, Noel Quinn now appears to be the front-runner to lead the global bank's next turnaround.

Chairman Jelena McWilliams previewed a proposal to update the agency’s definition of brokered funds, but also suggested steps lawmakers could take to improve the rule’s underlying statute.

It sounds like something that should be simple — letting a customer pay off their credit cards with a new personal loan — but it's not, according to Dave Girouard, Upstart's CEO.

The Rakuten application has piqued interest in reviving legislation aimed at stopping commercial firms from owning banks. Yet Congress previously had the chance to enact such a measure and declined.

Several banks abandoned their BHCs two years ago to cut costs and reduce regulatory burden. But the strategy never really took hold as most bankers determined there were more benefits to having holding companies than eliminating them.