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The Office of the Comptroller of the Currency says the $963 million-asset bank has met expectations for improving board oversight and strengthening auditing of its loan-loss allowance.

The bank is taking a majority stake in a VW unit that enables drivers to use their dashboards to pay for such services as gas or parking. It's a recognition of the innovation taking place in the automotive sector.

The credit union service organization, which changed its name from CU Realty Services in June, has expanded its service area to cater to more homebuyers and help credit unions secure their mortgage pipeline.

The market for short-term installment credit is growing among millennials and Gen Z consumers who distrust credit cards. Banks are letting a golden opportunity slip away.

James Kim will succeed James Ford, who is retiring, as chief executive.

Net income significantly recovered compared with a year earlier, totaling $70.4 billion. But the average net interest margin fell to another record low as lending remained sluggish, the FDIC said in its quarterly update.

The New Jersey bank plans to reinvest half of the savings into technology development and hiring.

The Rhode Island bank has entered into an agreement to acquire JMP Group, which focuses on the health care, technology, financial services and real estate sectors.

The program, Balance Connect, allows consumers to link their checking account with as many as five other Bank of America accounts and transfers available funds when needed for a fee that's lower than the company's existing overdraft charges.

Marquette University has formed a partnership that will give undergraduate business students experience working with grassroots lenders in Panama, Honduras and Nicaragua. The goal is not only to teach the basics of commercial lending, but also to instill some idealism in the next generation of bankers.

JPMorgan Chase is buying a majority stake in Volkswagen AG’s payments platform, extending its services further into the auto industry.

PayPal Holdings said it will acquire the Japanese upstart Paidy for 300 billion yen ($2.7 billion) as it seeks to deepen a push into buy now/pay later products.

Daily edition for September 08, 2021

The agency’s enforcement action against Better Future Forward says the nonprofit’s income-share agreements — an alternative education finance product — must follow the Truth in Lending Act just like other forms of student loans.

First US in Birmingham will take a $1.2 million third-quarter charge to close the subsidiary. It plans to recoup the expense by focusing on commercial and indirect lending.

Aiia brings thousands of banks to the card network's global open-banking platform.

The Alexandria, Virginia, organization will change its name next month.

The startup Digits has developed a search engine that combs the books of small companies to size up their finances. But to give clients a real-time snapshot, it seeks bank partners that will provide checking and credit card account information.

John Faust plans to step down next year, concluding a nearly 30-year tenure as president and CEO of Diamond Credit Union.

It started with an email suggesting there would be consequences for lenders that failed to use the Small Business Administration’s website to handle forgiveness applications for Paycheck Protection Program loans. Then lawmakers got involved.