Banking

The Virginia Beach-based credit union recently launched Chartway Ventures to invest in fintechs and other organizations.

The Radnor, Pennsylvania-based financial technology company made an unsuccessful bid to buy a bank. Now it is shifting into expense-reduction mode.

Famous for his hand-typed "Guenther-gram" messages, the longtime Independent Community Bankers of America CEO played a critical role in boosting the trade group's political clout after it moved to Washington from Sauk Centre, Minnesota, in 1982.

Rising inventories and the specter of regulation may make it seem like the pandemic auto boom is over, but broader trends could make it a profitable business if banks do it right.

As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door.

First Central Credit Union in Waco, Texas, agreed to purchase the branch and various assets from the bank, which is refocusing on its Harris and Tyler County markets.

The $41.2 billion-asset Los Angeles bank says it will wind down its premium finance and multifamily lending segments and intentionally slow loan growth.

Indexes show heightened expectations for a recession and souring loans. But executives are upbeat about middle-market businesses and overall job growth.

The Rosemont, Illinois-based bank said its longtime CEO Ed Wehmer will retire from the post in May and become executive chairman. Timothy Crane, who joined Wintrust in 2008 and became its president in 2020, will take over the top job.

Banks need to be cautious about negotiating pre-merger Community Benefit Agreements with nationwide activist groups. The deals carry real reputational hazard.

Credit Acceptance Corp., a major name in subprime auto finance, is facing a legal challenge over its lending practices. Some lawyers and analysts say the company's battle with the Consumer Financial Protection Bureau has broader implications for the rest of the industry.

Uncertainty surrounding the regulatory approval process and overall economic conditions will act as a brake on bank mergers and acquisitions in 2023, says John Corbett, CEO of Florida-based SouthState.

The National Credit Union Administration has held the rate cap for loans issued by federally-chartered institutions in place since 1987, despite recent calls to raise it.

JPMorgan Chase has a head start when it comes to developing and deploying artificial intelligence in banking, according to a new study. 

Technology that was seen as best-in-class 10 years ago is practically table stakes for banks today and does not differentiate one bank from another. Branches do.

It is rare for banks, especially large ones, to receive unsatisfactory ratings in their Community Reinvestment Act examinations. The San Antonio bank has now done it twice in a row.

North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.

As deposits grow scarcer, the Stamford, Connecticut-based bank's acquisition of interLINK earlier this month promises to yield billions of dollars in core funding it can put to work paying down borrowings or purchasing securities, CEO John Ciulla says.

The nonprofit is entering phase two of its project with JPMorgan Chase intended to understand how conversational AI and emerging technologies can help low- to moderate-income consumers.

State-chartered credit unions say their fields of membership are too narrowly defined. Rather than convert to federal charters, they are backing a bill that would provide greater reach.