Banking

Pence breaks tie to overturn rule prohibiting mandatory arbitration; depositors receiving higher rates in effort to retain them.

The company, which agreed to buy Southwest Bancshares in Mobile, also plans to sell $45 million in stock to help fund the deal.

As more loans go bad across the credit card industry, the Riverwoods, Ill.-based company boosted its provision for loan losses by 51%.

Loan growth drove the New York bank’s 20% increase in third-quarter earnings, and those results don’t include its acquisition of Astoria Financial this month.

The McLean, Va., company dialed back its lending in the quarter as credit quality in several business lines weakened.

Jim Popp, formerly of JPMorgan Chase, will become CEO of Johnson Financial Group in Racine at yearend. He will succeed the retiring Jim Bolger.

The mutual, which agreed to buy First Colebrook Bancorp, had recently opened a limited-service branch in Portsmouth, N.H.

Banks are swapping out long-term holdings for short-term securities to manage interest rate risk. But in the process, they are sacrificing yield — and ammo they might need to pay more for deposits to retain customers.

Catering to young clients, Finn by Chase blends instant account access, emojis and PFM tools.

The Michigan company's third-quarter results were down slightly from a year earlier despite increased commercial lending and a wider net interest margin.

For community bankers, the current environment is more challenging than ever, with high regulatory burden and tough competition. Four bank CEOs sat down to discuss the future of the industry, and what they are hoping may change.

The $73 million CU is transitioning to a state charter to expand to other communities

Net income at the Livingston, N.J., company climbed 67% due to a variety of one-time items tied to its ongoing restructuring.

The U.K. Financial Conduct Authority opened an investigation into the hack of credit reporting company Equifax Ltd. that saw personal data stolen from at least 143 million people.

Growth in net interest income was offset by a decrease in revenue from mortgage banking and capital markets, the Birmingham, Ala., company said Tuesday.

Wonder Woman captures the essence of how women break down barriers, including in financial services. But no superpowers are needed to succeed.

Why are credit unions lending their name to this fight when the vast majority of them do not use forced arbitration and have not been caught up in Wall Street’s excesses?

Treasury contests agency’s claims that ban on mandatory arbitration benefits consumers; former head of FX trading used client information to profit the bank.

The information you need to start your day, from PaymentsSource and around the Web. Today: Affirm launches new installment payment app: New York's subways plan to add NFC; Patreon tightens adult content standards; Worldpay chases ISVs.

British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.