Banking

The Amesbury-based bank reported solid growth and profitability throughout Dave Mansfield's 9-year tenure. The decision followed news of losses tied to the bank's move into digital-asset lending, though the bank has yet to file a 10-Q for the third quarter.

Two long-awaited developments — the Consumer Financial Protection Bureau's data access proposal and the Federal Reserve's faster payments network debut — are slated for next year. The combined effect on consumer banking might be more consequential than we now know.

Commercial loans at federally insured credit unions increased 25% to $132.2 billion in the third quarter of 2022, even though many institutions are facing a tough job market. Their answer is to find strong candidates within their own ranks.

Despite a slow year overall, banks announced several substantial merger and acquisitions in 2022.

Banks and other lenders revived special-purpose credit programs after racial-equity protests in 2020 prompted them to reexamine their services for historically underserved groups. Now they're taking those initiatives nationwide.

The U.S. should look abroad for innovative solutions to the problem of assessing the creditworthiness of borrowers with little formal credit history.

American Express, LendingClub and Webster Bank are among the financial firms that named new chief information officers and chief technology officers.

The $23 million deal, announced more than a year ago, was terminated following regulatory delays.

In his first American Banker interview since becoming CEO two years ago, Thomas Cangemi talks about the company's transformation into a full-service commercial bank now that it has completed its twice-delayed acquisition of Flagstar Bancorp.

The Paycheck Protection Program proved successful in providing small-business owners with funds to keep workers employed — but it was also a magnet for criminals. Here is a rundown of fraud probes, prosecutions and potential long-term consequences for commercial lending.

The National Credit Union Administration will soon name a director for its Office of Financial Technology and Access, which Hood — a board member and former chairman of the agency — created. He explains in an interview why the office's work is a priority.

SNAP recipients need easy and reliable access to their account balances and transaction histories. The Consumer Financial Protection Bureau ought to clear the way and let that happen.

Amid high inflation and favorable conditions for job-seekers, several banks hiked their starting wages this year. But even as their labor costs rose, they still found it hard to hang onto employees.

The consensus calls for shrinking collateralized loan obligation volume in 2023, but rewards are said to outweigh the risks.

After years of deliberation and controversy, 2022 will be remembered as the year the global financial system replaced the Libor interest rate benchmark, the last vestiges of which sunset in 2023.

The credit union hired Janell Upton to succeed Chaz Rzewnicki, who left to become CEO of Vibe Credit Union in Michigan.

The bank hired Thomas Geisel to take over as president and chief executive, effective immediately. He succeeds Harry Madonna, who had been interim leader after the ouster of Vernon Hill.

Credit unions announced 15 deals for banks in 2022, surpassing 2021's total — with much of the momentum coming late in the year.

JPMorgan Chase is upping its climate ambitions, announcing a slew of new emissions reductions targets for its financing to carbon-intensive businesses, including airlines and cement manufacturers.

The National Credit Union Administration must extend a program allowing credit unions to offer long-term loans for residential solar power installations.