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If banks reached the same market penetration among U.S. customers of Latin American descent that they have among white Americans, they could tap an additional $155 billion in annual revenue, according to new research from the consulting giant McKinsey.

LendingClub, SoFi and Upstart were among those that wielded the ax.

Analysts agree that the Long Island-based bank will probably absorb some losses due to its exposure to struggling segments of the commercial real estate market. But they differ on the extent of the likely damage.

Come the second quarter of 2024, JPMorgan Automated Investing will be no more.

Carter Bankshares in Martinsville, Virginia, is attempting to exit a longstanding relationship with West Virginia Gov. Jim Justice through a seldom-used collections tool that was at the center of a court hearing this week.

While mortgage assumptions are on the rise, so too are complaints leveled against mortgage servicers for how they handle the loans. A common refrain is that the companies are moving too slowly.

A jury found the tech giant violated anti-monopoly rules by requiring in-house checkout for game makers such as Epic, which publishes Fortnite. Google and Apple may have to cut fees, but outside processors will be challenged to create a winning user experience.

The top five community banks averaged a return on average equity of 75.37% as of June 30, 2023.

In this year's roundup of top banking news for 2023: Navy Federal Credit Union joins the RTP network amid ongoing military contract woes, major banks across the U.S. announce staff cuts, regulators shutter Signature Bank and more.

The combination of OnPath Federal Credit Union and Louisiana Federal Credit Union is the biggest credit union merger in the state's history.

Once considered key drivers of the boom in ESG investing, millennial and Gen Z investors no longer seem so supportive now that the economy is experiencing more turbulence, a new study finds.

The change comes over massive overhaul as the mega bank seeks to build divison under Sieg.

Wiggan is taking the place of Ray Chun, who will run the Canadian personal banking division.

Integrating artificial intelligence into the world of banking and finance must be a cooperative effort between the industry and regulators. It's important that the discussions start now.

Within the bank, Ed Emerson, , who leads the commodities-trading business, is known as a vocal critic of CEO David Solomon's leadership.

The Federal Open Market Committee's Summary of Economic Projections probably won't offer the 130 basis points of cuts next year that the market expects.

Proposed capital rules aimed at bigger institutions will force regional and larger community banks to consider ways to grow or seek an exit strategy, bankers and analysts predict.

Mobile banking features that encourage customers to set savings goals can supercharge customer loyalty and attract new primary banking customers. A renewed focus on consumer savings may also help banks offset the decline in deposits reported at many banks in 2023.

Michael Rhodes, who has spent the last dozen years in various executive roles at TD Bank Group, will become president and CEO of Discover Financial Services. The move comes four months after the unexpected departure of Discover's longtime CEO Roger Hochschild.

Bank CEOs are eyeing a near-term peak in deposit costs as the Fed perhaps moves closer to cutting interest rates. But the pressures they've faced this year as depositors ask for more compensation may not die down right away.