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The combined institution would have more than $280 million of assets and serve close to 20,000 members.

The company says that marketing its deposit products could help build deeper customer relationships, particularly with student loan borrowers. “We're not just a credit card issuer,” CEO Roger Hochschild told analysts.

The $85 million acquisition of Metro Phoenix Bank would more than double Alerus Financial’s loans and deposits in the nation’s fifth-largest city.

Bank of America is turning to private jets and exotic cars to compete with American Express and JPMorgan Chase and lure big spenders to its credit cards.

KeyCorp is “dramatically” increasing the length of parental leave for employees and offering more flexibility for working remotely as part of a number of measures to help retain talent, CEO Chris Gorman says.

With prices increasing faster than they have since the 1990s, the Federal Reserve appears poised to tighten monetary policy. Top industry executives are worried about the chances of either a recession or runaway inflation, depending on whether the central bank moves too quickly or too slowly.

Goldman Sachs, which already runs Apple Card and part of its consumer banking operation on AWS’s cloud, will now host market data there for hedge funds and other institutional clients.

Daily edition for December 09, 2021

Lawmakers approved legislation designed to protect trillions of dollars of assets when the London interbank offered rate expires.

Acting Comptroller Michael Hsu identified eight practices that he described as pro-consumer. While some banks have already acted on many of the reforms, they are by no means standard across the industry.

Executives representing leading cryptocurrency firms such as Circle and FTX told Congress that some federal oversight of their industry is worthwhile, but they criticized a recent report by a Biden administration working group recommending that stablecoin issuance be limited to FDIC-insured banks.

The card network's new cryptocurrency advisory service aims to help financial institutions catch up with companies like Square and PayPal by spotting opportunities to support stablecoins, nonfungible tokens and central bank digital currencies.

The proceeds will support Silvergate’s network that facilitates cryptocurrency transactions and a leveraged lending product that provides loans collateralized by bitcoin.

Banco Bradesco, Brazil’s second-biggest bank by market value, is partnering with the Miami-based fintech BCP Global to offer digital investments to upper-middle-class and rich Brazilians.

Figure Technologies, the startup co-founded by Mike Cagney, created a platform to help private companies raise and trade equity using its blockchain technology.

Current regulations barring out-of-state banks from siphoning deposits from local communities are effectively toothless, as the experience in Miami has shown.

Purchases by adults between the ages of 25 and 40 have risen 50% over 2019, and the same group accounts for 75% of sign-ups for American Express’s pricier new cards.

BlackRock, the world’s largest issuer of exchange-traded funds, will move most of its U.S. ETF assets from State Street to reduce its reliance on the bank’s custody services.

The economic tremors caused by the COVID-19 crisis led some analysts to argue that it was only a matter of time before some financial institutions collapsed. But thanks to government stimulus, the industry’s ample capital levels and moderate risk exposure, bank closings have become a rarity.

Business lines south of the border, led by a diversified commercial banking unit, contributed more than 40% of total earnings at Bank of Montreal over the past 12 months. Company executives now see an opportunity in selling wealth management services to commercial clients.