Banking

$13 billion deal will get Morgan Stanley "ready for prime time"; Ralph Hamers will replace Sergio Ermotti later this year.

Some institutions say the combination of chatbots and social media could entice new borrowers, but burdensome legacy systems may limit their effectiveness.

The credit union regulator had amassed the loans following the liquidation of several New York-area credit unions with high concentrations of taxi medallion loans.

The company will nearly double the amount of marine loans on its books after buying a division from People's United.

Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion.

The challenge for other fintechs will be to find banks that are as compatible as Radius Bank, an online-only lender, is for LendingClub.

The Western Michigan city has been a hotbed of credit union activity given its low unemployment rate.

The move comes as the fintech tries to shake off criticism that its main products are payday loans by another name.

When established card networks such as Visa, American Express and Mastercard start investing in fintech lending platforms such as Divido and ChargeAfter — as well as in the fintech lenders themselves such as Klarna and Vyze — it’s a clear signal that the future of unsecured personal loans may not be delivered by banks.

The game has changed and bank executives will have to do more homework before striking a deal.

The overhaul calls for massive job cuts but leaves interim CEO Noel Quinn’s permanent role in limbo; the program would throw out most of Trump’s Dodd-Frank rollbacks.

Clearer standards make it easier for shareholders to boost their stakes in banks without having to file for bank holding company status.

CardWorks also specializes in subprime credit cards and loans for recreational and marine vehicles.

The bank still plans to open branches on the West Coast even as it trims its overall U.S. footprint by 30%.

The deal for Boston-based Radius would be the first in history in which an online lender buys a mainstream bank.

Consumer advocates and policymakers are railing against use of the technology by government, universities and others. Banks using it for authentication need to tread cautiously, experts say.

Alexander most recently headed up mortgage lending and before that co-led the integration of Key's acquisition of First Niagara. He replaces Dennis Devine, who recently left the company.

The deal to create the nation's second-largest wireless network may lead to a revamp of a discount that reportedly drives 250,000 new Sprint customers annually.

The company will pay $130 million for Commerce Financial Holdings.

Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut.