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The $1.5 billion-asset SAFE FCU in Sumter, South Carolina, is combining with the $3 million-asset Sumter City Credit Union.

As tech giants rush into point-of-sale lending, the smaller companies that built the market are counting on acquisitions and partnerships with specialized vendors to defend their turf and pull in new borrowers.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.

On Mar. 31, 2021. Dollars in thousands.

David Willis, the Oklahoma City credit union’s co-president and chief operations officer, has been selected as Kloiber’s successor and will take the helm on Sept. 1.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

The deal would mark a first step in Chief Executive Jane Fraser’s plan to exit 13 retail markets across the Asia-Pacific region, Europe and the Middle East.

Personal-wealth businesses in the asset-management arm will be consolidated under the newly christened PNC Private Bank.

Local financial institutions have fewer branches than big banks, and closing even one location makes it harder for them to serve their communities.

Daily edition for August 09, 2021

In the short term, the Biden administration is asking the industry to help previously unbanked households access their funds. Longer term, some banks see a real opportunity in advising their customers on what to do with the large cash influx.

Growing financial pressures have pushed more adults into living paycheck-to-paycheck and wanting to access their earned pay earlier, calling into question the value of decades-old payroll practices.

The San Francisco data aggregator has committed to minimizing how much data it extracts from bank accounts.

The San Francisco company says it will "modify and strengthen" its filings with the Federal Deposit Insurance Corp. and Utah officials and "resubmit at a later date." It's the latest fintech to encounter such a setback, though some later secured approval.

Ando, a challenger bank focused on sustainability, is helping Virginia Community Capital Bank expand its 5-year-old clean energy lending program by finding a bigger pool of depositors who are eager to fund solar loans.

The largest U.S. bank, which often sets policies ultimately adopted by the broader financial industry, announced the change in a memo to staff Friday.

The Federal Reserve's decision to reexamine the Durbin amendment's Regulation II raises a host of concerns for banks and credit unions over the processing of purchases made online.

Chabot Federal Credit Union is combining with University Credit Union, which was founded on the UCLA campus.

As people more heavily use exchanges and other providers of digital-asset-related services, they're registering more beefs with the Consumer Financial Protection Bureau, too. Experts say it's only a matter of time before the agency invokes its broad authority to police the sector.