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The card network aims to attract more merchant customers with an account that pays a 1.1% interest rate.

Collaborations among rival banks and fintechs can be mutually beneficial, Vanessa Colella says. A recent example is a small-business loan portal Citi created that other banks can use.

The card network is working with new partners such as FIS and Moneris to connect banks, fintechs and merchants on its Visa Installments Solution platform. Its goal is to provide access to a broader spectrum of consumers than these companies can reach in one-off deals, CEO Al Kelly said.

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

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 U.S. Treasury is creating a new role of point person for racial equity, hiring JPMorgan Chase veteran Janis Bowdler for the job.

Lesher, previously the company’s head of middle-market banking operations on the East Coast, takes over as Wells is making technology investments in the unit.

The industry is prioritizing Black and Hispanic consumers in the interest of social equity and to tap new markets amid declining refinance volume and rising rates.

Ernie Johannson

The CEO of the Buffalo, New York, bank challenged the audience at American Banker's Most Powerful Women in Banking gala to recall the people who have supported them in their careers and thank them by mentoring others — every day.

The Citi CEO, the first woman to head a large U.S. bank, said she received congratulations from hundreds of competitors and colleagues after she was named to replace Michael Corbat as CEO. Fraser spoke at American Banker's Most Powerful Women in Banking gala Thursday night in New York City.

Speaking at American Banker's Most Powerful Women in Banking gala, the former administrator of the Small Business Administration credited her grandmother with inspiring her to succeed in the U.S.

Women — especially Black and Hispanic women — remain underrepresented in banking leadership despite incremental progress because they receive less support than men do to advance beyond entry-level roles, a new McKinsey study says. Here's an overview of the findings.

From factoring global warming into the underwriting of government-backed loans to conducting "sensitivity analysis" of banks' ability to withstand severe weather, several government agencies are accelerating efforts to address the impact of climate change on the financial system.

The 44 large bank and insurance company partners of the Fintech Innovation Lab are inviting startups whose technology can help them manage cybersecurity threats as well as handle climate change metrics and other growing needs to join the lab's next cohort.

Citigroup told staff to avoid scheduling calls and meetings from noon to 1 p.m., another step in CEO Jane Fraser’s push to ease workers back into the office. 

Fintechs have led the way in installment lending, but banks, credit card issuers and payments companies are responding with products of their own. Here's an overview of what they're rolling out.

New enlistees typically lack credit histories, so the $1.2 billion-asset lender is using other transaction data to underwrite loans. It's a common practice among large banks and fintechs but rare for a community bank.

Young entrepreneurs and soon-to-be heirs are expecting more social impact from their investments. Private banks are evolving in response — often by matching clients with like-minded advisors who are closer in age, and by hiring more women and people of color.

This past year has proven that traditional leadership models will not take us forward. Attracting and retaining talent, especially diverse talent, depends on how well we listen to and understand the many changes in what employees value.