Banking

Companies like U.S. Bancorp have found ways to apply the information they use to serve thin-file applicants to small-business owners and other borrowers.

Adapted Accessibility is a browser plug-in that will help employees, and eventually customers, more effectively browse the web by setting on-screen preferences.

Investors have bought a one-branch bank in Elmore City, Oklahoma (the town that inspired "Footloose"), renamed it Old Glory Bank and plan an all-digital brand that emphasizes patriotism. Experts question whether Old Glory is offering a solution to a nonexistent problem.

The Fed slightly raised interest rates, Amazon brings 'palm payments' to Panera Bread, the SEC cracks down on Lindsay Lohan, and more.

Fred Eisel will succeed David Brehmer, who plans to retire from the $6 billion-asset Vizo Financial on Jan. 5, 2024.

Net interest margin, a key earnings metric, had been rising across the industry in recent quarters. Now it could suffer at the megabanks that have gained customers amid the turmoil of the last two weeks.

Treasury Secretary Janet Yellen repeated her comment from a day earlier that the government's recent actions were "taken to ensure that Americans' deposits are safe." She sought to clarify it with a new line: "Certainly, we would be prepared to take additional actions if warranted."

The Consumer Financial Protection Bureau says the giant debt collector is a repeat offender that sued borrowers even when it lacked documentation about a debt. The company says it denies wrongdoing but agreed to the settlement.

A few years ago, banks and credit unions were veering away from drive-up service in their new branches. And then the pandemic hit.

Banks with strong underwriting and stress testing should be well positioned to survive the credit and liquidity issues that may come while being able to continue to serve customers.

A reasonable approach to comprehensive credit risk management can protect banks against the impact of a recession while ensuring the industry doesn't contribute to any potential economic volatility.

JPMorgan Chase is planning to test new technology that would let consumers pay with their palms or faces at certain U.S. merchants.

Citigroup CEO Jane Fraser said mobile apps and consumers' ability to move millions of dollars with a few clicks of a button mark a sea change for how bankers manage and regulators respond to the risk of depositor panics.

Regional bank shares slumped, dragging down the broader market, after Treasury Secretary Janet Yellen's comments and as Federal Reserve Chair Jerome Powell said he's prepared to keep raising rates until inflation shows signs of cooling.

The San Francisco bank said the move is designed to "foster closer alignment with the shareholder experience and signal commitment to the bank and all of its stakeholders." The company's stock price has fallen 89% this year, and government officials have reportedly been working with industry leaders on a rescue deal.

The North Carolina bank's venture capital arm has recently taken stakes in two early-stage companies, including one aimed at helping independent pharmacists, after cashing out on two others last year.

The combined bank would have more than $8 billion of assets. The acquisition counters a trend of slowed merger activity amid regulatory pressure and an ongoing banking industry crisis.

American Banker is now accepting applications for the Best Banks to Work For 2023 ranking.The registration deadline is May 12.