Banking

Louisiana Credit Union League names new CEO, scammer who helped criminals pose as bankers jailed for 13 years, Jack Dorsey leads funding round for bitcoin voucher company and more in this week's banking news roundup.

Lazard posted a surprise loss for the first quarter and in April announced plans to reduce its workforce by 10% this year, predicting a slowdown in M&A advisory business will last through 2023.

Artificial intelligence can help cut bias out of credit models. The Consumer Financial Protection Bureau should make it easier for lenders to adopt it.

After the departure of a key Small Business Administration official, lawmakers from both parties are calling on the SBA's chief to delay rules that could open the agency's biggest lending program to more nonbanks — or even consider reversing the changes.

Chicago has one of the largest unbanked populations in the country, so United Credit Union rolled out a loan program aimed at those people who would typically use a payday lender.

The West Virginia company says COO Jeffrey Jackson will become chief executive in August instead of January. He will succeed Todd Clossin, who will retire earlier than planned and describes Jackson as "well prepared."

During the pandemic, many banks adopted programs that helped struggling families find stability. Make that a permanent strategy.

The bank's new Long Game app rewards users for saving and dangles the chance to win cash prizes.

Community banks tapped the brakes during the first quarter, citing higher interest rates, recession threats and fallout from regional-bank failures. Fed data shows the trend has continued into May, and executives are preaching caution.

Roughly 450 organized staffers of the Madison, Wisconsin-based insurance provider are prepared to head to the picket line — unless mediators can find common ground by Friday.

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

Borrowers from certain nonbank lenders that have been identified as magnets for Paycheck Protection Program scams also committed check fraud at elevated rates, according to a new data analysis. Banks could use that kind of data from the pandemic-era government program to spot bad actors.

In recent years, stress tests have not accounted for some very clear real-world risks. This must change immediately.

F.N.B. Corp, the holding company for First National Bank, is making its second investment in the $13 million-asset Hill District Federal Credit Union.

The Philadelphia bank's CEO says it will wait for a more favorable time to pursue a planned $125 million capital raise, while the leader of an activist group blasted the decision and announced the renewal of proxy and legal fights.

Brent Grable will take on managing IT and operations at the Massachusetts bank. He formerly worked at Santander and State Street.

A better understanding of the likelihood of deposit flight would help banks avoid the kind of run that led to the failure of Silicon Valley Bank.

More than 140 current and former lawmakers are defending the constitutionality of the agency's funding arrangements. The nation's highest court is expected to rule on the issue in its upcoming term.

Bank of America and JPMorgan Chase are particularly active as they build educational microsites and drive digital lending with EV manufacturers.