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Derek Flowers, a 24-year company veteran, will replace the retiring Amanda Norton. Flowers' familiarity with the megabank's operations will help as it continues working through regulatory consent orders, CEO Charlie Scharf said.

The nation’s sixth-largest bank will offer a $750 line of credit to customers who need short-term liquidity, and will gradually become less reliant on older accounts that charge the controversial fees. With the plans, Truist is moving in the same direction as many large and midsize banks.

VyStar Credit Union in Jacksonville has been certified as a community development financial institution.

Traditional banks could be forced to add cryptocurrency product offerings in 2022 to compete with fintechs that are taking advantage of blockchain innovations, according to Diogo Mónica, co-founder and president of Anchorage.

Joseph L. McGee, who has run the credit union for more than 20 years, will step down in March. Glenn Bryan, chief operating officer, has been named his successor.

A group of community banks and two major trade associations have formed a partnership with and invested in the fintech NYDIG to offer the service on the banks’ mobile apps by midyear. The banks say it will help them generate revenue and retain customers interested in cryptocurrency.

The companies originally hoped to complete the deal in late 2021. The buyer chalked up the delay to an overburdened Federal Reserve, rather than any problems with its application.

An uptick in commercial borrowers’ credit line utilization rates bodes well for loan growth in 2022, PNC Financial Services Group CEO William Demchak said Tuesday.

While money market fee waivers ate into the company’s revenue last quarter, as low interest rates led asset managers to make concessions to customers, executives predict a turnaround in 2022 after the Federal Reserve starts monetary tightening.

The New York bank attributed the gains to its aggressive hiring of banking teams on both coasts and robust loan demand from private equity and venture capital firms.

It has also taken a stake in Rêv Worldwide, developer of the bank's cross-border traveler account that supports currencies including the U.S. dollar, the euro and the Mexican peso.

What else do banks need to do to achieve gender parity more quickly? What are the tech innovations that will be most impactful for the banking industry? What will the surviving banks look like a decade from now?

Year to date through Sep. 30, 2021. Dollars in thousands.

Full-time equivalent, as of Sept. 30, 2021. Dollars in thousands.

Year to date through Sep. 30, 2021. Dollars in thousands.

Citigroup, which has been shedding some of its retail operations as part of a global revamp, is in advanced talks with Taiwan’s Fubon Financial Holding for a sale of its mainland China consumer business, people familiar with the matter said.

Amazon.com Inc. has made a last-minute reversal to its plan to ban the use of Visa Inc.’s credit cards issued in the U.K.

Daily edition for January 18, 2022

The former Zurich Insurance Group executive replaces Antonio Horta-Osorio, who was forced to resign for breaking coronavirus quarantine rules in Switzerland and the U.K.

The automaker plans to overhaul its online car-shopping portal, while also developing an in-car system for purchasing fuel, parking and other goods and services.