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The goal is to add customers and prop up borrowing until business travel rebounds and consumers burn through their excess cash, CEO Roger Hochschild says.
July 22
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The industry wants the National Credit Union Administration to shelve its risk-based capital regime. Instead the agency is proposing to let institutions opt out if they meet a net-worth requirement.
July 22
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The retail consolidation in Midwestern markets will also support the bank’s branch expansion in Atlanta, Charlotte and other fast-growing cities across the Southeast.
July 22
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Buying the cross-border payment and software company can help the card brand provide more services to fast-growing challenger banks.
July 22
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The company has long focused on customers with ties to the two states. But as it emerges from the pandemic seeking new lending opportunities, CEO Rajinder Singh says, “We are looking at markets from Boston all the way down to Atlanta.”
July 22
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As an investigation into its relationship with a former District of Columbia city councilman nears its end, the Maryland company has confirmed that Chief Financial Officer Charles Levingston has received a notice from the Securities and Exchange Commission signaling a potential enforcement action against him.
July 22
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Ex-Director Kathy Kraninger became vice president of regulatory affairs at Solidus Labs as the crypto market comes under increased scrutiny in Washington.
July 22
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The Rhode Island bank joins a small group of financial institutions offering corporate clients the chance to park their cash reserves in environmentally friendly projects.
July 22
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While pandemic restrictions cloud the sector's outlook, the London-based payment and fintech company is making hotel booking and other services part of its financial super app strategy.
July 22
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A flurry of activity in recent weeks has prompted chatter on earning calls about banks’ merger ambitions. While some CEOs bemoaned high asking prices, others said they are making more inquiries, identifying targets and, in some cases, closing in on deals.
July 21
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Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.
July 21
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Tanya Sanders, who joined the company in 2019, takes the reins as the division's loan growth is on an upswing. She will succeed Laura Schupbach, who is retiring after 26 years at Wells.
July 21
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Tech companies that help banks detect money laundering have raised hundreds of millions of dollars in recent months because of advances in their products. Observers suggest the vendors will have to diversify their offerings to survive in a crowded field.
July 21
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As a combined entity, Aite Group and Novarica will have 70 analysts to assist hundreds of bank and financial services clients.
July 21
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Michael Hsu is reorganizing the Office of the Comptroller of the Currency so that he directly oversees staffers who develop examination strategy. Some analysts suggest the move could result in more aggressive oversight by an agency long accused of being too cozy with national banks.
July 21
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MoneyGram International, one of the largest money-transfer services in the U.S., has received preliminary takeover interest from Stellar Development Foundation and the private equity firm Advent International, according to people familiar with the matter.
July 21
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The billionaire CEO was awarded 1.5 million in stock options in what the board said is an effort persuade him to lead the biggest U.S. bank for a “significant number of years.”
July 21
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A bevy of Citigroup bankers and traders are vying to join a new program that would allow them to spend time working at a Black-owned bank.
July 21
