Banking

U.S. Rep. Carolyn Maloney (D-N.Y.) has called on the National Credit Union Administration to halt all sales and foreclosures of taxi medallion loans it obtained following the liquidation of several New York-area credit unions with high concentrations of delinquent medallion loans.

After a decline, fraud has recently spiked. But there are measures companies can take to stay ahead of the crooks, says Nvoicepay's Alyssa Callahan.

Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said.

Moynihan says the bank’s consumer market share could be doubled; retail terminals would connect customer’s hand print with their card information.

Pushback from banks, a smaller pool of sellers and potential regulatory hurdles could pose setbacks for credit unions this year.

Adam Dell, founder of Clarity Money and now head of product at Marcus by Goldman Sachs, explains the design theory behind the new app.

Federal legislation introduced this week by Rep. Gregory Meeks, D-N.Y., would ensure that taxi drivers don't get taxed on medallion debt that gets forgiven. The bill dovetails with a debt forgiveness plan under development in New York, where hundreds of drivers have filed for bankruptcy.

Total loans at Regions Financial fell slightly last year, but executives say a shift in consumer lending priorities and more aggressive C&I lending will start to pay off this year.

The Arkansas bank is bracing for a rough 2020 amid record prepayments and a big substandard loan in its commercial real estate book, but CEO George Gleason insists shareholders will see "a nice payoff" in the long run.

Federal legislation introduced this week by Rep. Gregory Meeks, D-N.Y., would ensure that taxi drivers don't get taxed on medallion debt that gets forgiven. The bill dovetails with a debt forgiveness plan under development in New York, where hundreds of drivers have filed for bankruptcy.

If credit union lenders and underwriters aren't working collaboratively, they could be hindering growth opportunities.

Citizens Financial Group’s fourth-quarter results highlight the challenges regionals face in generating top-line growth.

People's United in Connecticut is letting the loans run off its books as it invests in higher-yielding commercial loans.

Werner Loots, the bank’s first head of transformation, is helping the bank redesign how work is done, then streamlining and digitizing as much as possible.

Following a 44% jump in the number of CU-bank acquisitions in 2019, some observers believe the volume could plateau this year.

The fintech Sezzle has finally received its point-of-sale lending license in California after agreeing to refund consumers in the state and pay a penalty for previously making illegal loans there, the California Department of Business Oversight said Thursday.

The fintech Sezzle received its license after agreeing to refund customers and pay a fine for previously making loans that state regulators had deemed illegal.

The company will pay $24 million in cash for Central Federal Bancshares.

Roughly a decade after being burned by the most punishing financial crisis since the onset of the Great Depression, it's increasingly clear that the nation's largest lenders are targeting a narrower slice of consumers: The wealthy and those with excellent credit.

Fears that the New York banking giant’s consumer lending product could cut into a key credit union market appear to have been overblown.