Banking

Investors worry the intersection of rising interest rates and festering inflation could conjure a recession and drive loan losses. This would keep stock prices suppressed, but share buybacks and merger activity could counter that.

Frank Zampella, the chairman of the $526 million-asset credit union, will serve as interim CEO now that Tom Graves has retired.

Margie Salazar, who has been with the El Paso institution for more than 25 years and is currently its chief financial officer, will succeed longtime chief executive Karl Murphy on Feb. 1.

Bank regulators should heed the Treasury Department's call to embrace cutting-edge tools for credit scoring.

Eric Bergevin, president and CEO of Integrated Financial Holdings, was killed in the Jan. 7 accident, the company said.

The green light from the FDIC marks the end of the acquisition's final regulatory hurdle. The banks expect the deal to close by the end of February.

Sustainability and climate change continue to impact the business decisions of banks and fintechs looking to advance their green banking credentials.

4Front Credit Union in Traverse City has agreed to buy Old Mission Bank in Sault Sainte Marie. There were 16 such acquisitions announced in 2022.

The new consumer banking perk offers retail customers the option to receive federal tax refunds up to five days earlier than they'd normally get them from the IRS.

Employees of the $11.8 billion-asset institution's South Division Avenue branch organized with the Communications Workers of America in an affirmative vote.

The credit union has named Michael Sferro as its new president and chief executive. Sferro succeeds Rose Bartolomucci, who retired at the end 2022.

As customers increasingly do their banking via smartphone apps and online, Santander and Argentine rivals including BBVA Argentina, Grupo Financiero Galicia and Grupo Supervielle, like their global peers, are pushing to close physical locations. But regulators won't let them.

The Texas credit union promoted Luke Billeri, its executive vice president, to chief executive Jan. 1. He succeeds Randy Theilig, who retired.

More U.S. consumers are relying on their credit cards each month — and many are doing so without knowing the interest rates they're paying.

Significantly fewer households expected to be in worse shape in the coming year than was the case last summer, according to a December survey. The results are a positive sign for banks at the start of earnings season.

The bank hired an executive from The Bancorp to manage its risk operations after the incumbent, Jeff Curry, announced his retirement.

The deal would create a $3.2 billion-asset bank with branches in four states, including an expanded presence in Texas.

Christopher Oddleifson plans to step down from the Massachusetts bank in February. The company named Jeffrey Tengel, most recently an executive at M&T Bank, as successor.

The Most Powerful Women in Credit Unions: Next program recognizes high-achieving women, 40 years of age and younger, in the pipeline to the C-suite.