Banking

In an effort to compete with the vast resources of big banks, credit unions are partnering with fintechs to deliver banking products designed for children.

The New York-based digital-only bank is seeking to partner with more brands after a recent deal opened the way to serving millions of AAA customers.

High interest rates and tough economic conditions played a role in the credit woes that overcame BayFirst Financial's small-dollar lending effort.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

Last year, scammers tricked 11,000 people — many elderly — to send them money through ATMs for Bitcoin and other crypto. The payments are often irreversible.

New research from American Banker finds that artificial intelligence is growing in use, but trust and regulatory woes still hold many back.

The current system of communicating the terms and conditions of banking services fails everyone. Banks spend enormous resources on compliance theater while customers remain uninformed about their actual rights and risks.

A threat group used physical implants and evasive malware to infiltrate ATM networks and attempt fraudulent withdrawals. Here are their tactics and techniques.

President Trump and his administration have begun to scrap new mortgage lending guidelines that made it easier for home buyers and sellers to dispute property appraisals, finding that homes owned by racial minorities are routinely valued lower than comparable homes with white owners. But despite the promised regulatory relief, many mortgage lenders say the regulatory changes will not impact their lending practices.

Jay Brogdon, currently president of the Arkansas bank, will take the helm at the beginning of next year.

The data shows a sharp uptick in credit union acquisitions of banks, drawing the ire of community bankers as they lobby for credit union taxes.

Deal for Clay County Savings Bank leaves Verimore Bank primed to add market share in a fast-growing Kansas City neighborhood

Columbus-based Northwest Bancshares finalized its acquisition of Penns Woods Bancorp; Barclays becomes the second U.K.-based bank to leave the Zero Banking Alliance; BankUnited announces the appointment of Michael Mitchell as executive vice president, director of branch banking; and more in this week's banking news roundup.

First Foundation is in transformation mode, after a capital infusion and new management gave it some power to remix its challenged balance sheet. But the bank just took its third quarterly loss out of the last four quarters.

The Cleveland bank is working with Personetics to provide advice and help to digital banking customers that takes into account their circumstances, current transactions and history.

The new age of AI-enabled agents and increasing connectivity will not reward financial institutions focused on the last wave of innovation. Latin American institutions must embrace new technology.

The San Antonio-based company plans to remain in state borders, but sees opportunity for growth in major markets.

A dramatic boardroom purge at the NCUA has unleashed a fierce debate over the future of credit unions, and whether they're still serving their original mission.

The largest bank in Missouri, which completed the acquisition of Heartland Financial USA early this year, is on track to switch Heartland's systems over to UMB's systems in mid-October. The conversion should help realize "the next big slug" of expense savings, UMB's CFO said.

Northeast Bank and its fintech lending partner Newity have engineered a surge in 7(a) loans that has helped the Portland, Maine-based bank boost profits as tightened regulatory standards made the loans harder to get.