Banking

U.S. banks lost 2.5% of their deposits during the first quarter while credit unions saw a 2.1% quarterly increase, according to an S&P Global Market Intelligence analysis. Aggressive marketing — and credit unions' relatively untarnished reputations — helped motivate the shift.

Mobile banking offerings at midsize banks scored below those of their larger peers in a recent customer satisfaction survey. At a time of rising interest rates, consumers are increasingly valuing digital offerings that act as money movement hubs, experts say.

Nearly two out of three finance chiefs surveyed by Piper Sandler said they were most worried about deposit costs in the aftermath of recent bank closures. Only 7% cited credit quality as their top reason for unease.

Banks across the country have had deposit guarantees since 1998. By extending this to credit unions, Ukraine can provide economic stability while also improving its chances of joining the European Union.

CEO Bill Rogers says the North Carolina bank is contemplating additional business segment changes to improve its efficiency. Investors have been pushing the company to cut costs at a faster clip.

The Consumer Financial Protection Bureau said the Evansville, Indiana, installment lender had engaged in "unfair, deceptive and abusive acts and practices," and failed to reimburse interest to consumers who had cancelled certain add-on products.

JPMorgan Chase CEO Jamie Dimon says his company remains committed to doing business in the Communist Party-ruled nation as political tensions grow.

Carrie Tolstedt, the longtime head of retail banking at Wells, is resolving legal problems tied to her role in the bank's phony-accounts scandal. Earlier this year, she agreed to plead guilty to a criminal charge as part of a deal that calls for up to 16 months behind bars.

Banks with between $50 billion and $250 billion of assets leaned particularly heavily on the Federal Reserve and the Federal Home Loan banks amid deposit outflows in March and April, according to new research that quantifies the scramble for funding.

Wells Fargo & Co. has hired Credit Suisse Group's Jill Ford as head of its equity capital markets business.

The Consumer Financial Protection Bureau released fourth-quarter data last week showing a big drop in revenue from overdraft and nonsufficient-funds fees in 2022 compared with 2019 as big banks reduced or eliminated certain fees.

Led by Chairman Marshall Reynolds, the entire board of directors participated in a private placement that raised $10 million for the Hammond, Louisiana, company.

The longtime executive and former Trump Administration official will rejoin Goldman colleagues at merchant bank BDT & MSD Partners.

The banks that succeed in keeping top talent, from the branch to the corporate headquarters, do it by facilitating and encouraging employees' professional development.

Ever since Silicon Valley and Signature banks collapsed in March, a scramble began among regulators, politicians, bank executives and others to manage the fallout from this spring's banking crisis. Here are 10 predictions of what still lies ahead to be dealt with.

Like it or not, Big tech is going to become a player in financial services. It would be better to write rules now than to wait for a crisis.

After the failures of Silicon Valley Bank and Signature Bank, other institutions rushed to reassure their customers. But it can be tricky to ensure these messages do no harm.

Pledges to get to net-zero funded emissions by 2050 appear to be falling by the wayside as oil companies expand their fossil fuel extraction operations.

Try keeping quiet and listening instead of talking, suggests the journalist Dan Lyons in his new book, "STFU." Doing so can lead to a host of benefits, from career advancement to a better marriage.

The two banks failed to meet a requirement that they document their efforts to combat discrimination in lending and employment, according to city officials. KeyBank said the decision was the result of a misunderstanding.