Banking

With big banks investing heavily in IT, credit unions will have to be nimble and streamlined if they hope to compete.

Loans grew amid a surge in deposits, while membership surpassed 117 million and industry consolidation continued.

Nominated for a full term at the central bank, Michelle Bowman told senators that bankers should not fear repercussions for servicing hemp growers after the crop was legalized.

Over time, real-time payments could become the predominant payment type while virtually eliminating cash and checks.

A year after launching the digital bank, JPMorgan Chase has concluded that the millennials it targeted don't need a separate brand.

As banks seek to innovate, executives should accept that ignorance and mistakes are part of the process.

DNB had been facing pressure from an activist investor to consider selling itself.

The bank is having trouble finding an outsider and acting chief Allen Parker has impressed the board; the former Chicago mayor will join Centerview Partners.

The information you need to start your day, from PaymentsSource and around the Web. Today: How Amazon Go ensures user experience; Rabobank embraces open banking; Russian supermarket launches crypto B2B payments; Swedish department store adds payments for travelers from China.

Credit unions collect more in fee income than their banking counterparts. That could become problematic as the political winds and consumer preferences shift.

The company will pick up five branches as part of the $48 million deal.

On-demand wage delivery has caught on in other industries. Banks have taken notice.

The regional bank has begun closing branches in Chicagoland as part of a plan to reduce its net number of brick-and-mortar offices by up to 15% even as it looks to expand in the Southeast.

The New Jersey bank is entering a business dominated by larger players. In doing so, it could create a blueprint for other small banks.

Florida Gov. Ron DeSantis is attempting to sort out allegations of sexual harassment against the state's banking commissioner and counterclaims of a political setup.

The most profitable banks in American Banker’s annual rankings frequently produce year after year. That success requires rigorous budgeting and planning, timely analysis and more.

The company has agreed to buy Trinity Bancorp for $27 million in cash and stock.

The U.S. economy is on solid footing except for one potential trouble spot, according to Bank of America's Chief Executive Brian Moynihan: leveraged loans — a business the bank has dominated for a decade.

The chief operating officer for the Americas at Deutsche Bank, as well as SoFi's heads of marketing, risk and capital markets, are all moving on; John Williams tells bankers they need to do more to clean up misconduct at their companies.

The information you need to start your day, from PaymentsSource and around the Web. Today: Mastercard and PayPal make moves to address PSD2 compliance and open banking; Axel debuts a new wallet; Digital ID network takes shape in Germany.