Subject Root Tag

The agency has suggested it could go beyond enforcing fair-lending laws to urge financial institutions to help narrow the wealth gap. But those very same laws pose obstacles to achieving that goal.

There's often more guidance on what not to do than what to do, says Texture Capital's Richard Johnson.

Bank of Montreal agreed to sell its Europe, Middle East and Africa asset management unit to Ameriprise Financial for 615 million pounds ($847 million), marking CEO Darryl White’s biggest move yet to trim the bank’s portfolio of noncore businesses.

Trustly Group AB’s plan to raise almost $1 billion through an initial public offering in Stockholm may be followed by a second listing in New York, according to its chief executive.

Circle Internet Financial Inc., a developer of the USD Coin digital token, has hired an executive from the Facebook Inc.-backed Diem Association to spearhead strategy and policy efforts.

Federal Reserve Chair Jerome Powell said the central bank is involved in a large-scale research and development project on the digital dollar, and that questions of whether adopting such a currency would provide a public benefit have yet to be resolved.

BancorpSouth would have $44 billion of assets after it buys Houston-based Cadence. The company will be rebranded, while the bank will retain the Cadence name.

Thomas Gottstein’s one-year tenure has been marked by multiple costly scandals; the company’s valuation and profitability have jumped as bitcoin’s price has surged, but are those levels sustainable?

Banking trade groups have called for congressional hearings following the Jacksonville, Fla.-based credit union's agreement to purchase the $1.6 billion-asset Heritage Southeast Bank, the largest deal of its kind to date.

User experience and efficiency matter. Consumers aren't going to do something more difficult just for the technology, says Computop's Jed Danbury.

Walmart, Amazon, Facebook, Apple and Google are just a few of the non-financial companies that are using scale and innovation to compete in financial services.

Daily edition for April 12, 2021.

The agency has stepped up efforts to encourage those lacking banking relationships to choose an affordable account option for their pandemic relief funds. It will have to overcome distrust of financial institutions in communities of color.

Ann Dubie stepped down from the Joliet, Ill.-based credit union in March after 20 years at the helm.

Bank of America, which has had an environmental business goal since 2007, is significantly increasing its current commitment.

The Baltimore community bank is experimenting with fee-based checking accounts that bundle cellphone protection, roadside assistance and other perks with an app that makes such services easier to use. Early returns are promising.

Valley National wanted to become more customer friendly, while Washington Federal needed more commercial clients. The leaders of those companies recently discussed the tough decisions they made to bring about much-needed change.

Too many Americans lack a sound grounding in personal financial management, which limits their opportunity to build long-term financial independence.

Other fintechs’ rush to become banks is being driven by investors seeking “crazy returns," says CEO Dan Price. But he acknowledged that at some point Gravity may need a charter of its own to remain competitive.

The California company has not established a time or pricing for the IPO.