Banking

Mitsubishi UFJ Financial Group plans to accelerate lending to global funds and other institutional investors in the U.S., as it moves to overtake Goldman Sachs Group this year in loans syndicated in the world's biggest economy. 

The American consumer is "in good shape" and spending more this month than a year earlier, even amid inflation, jittery markets and international tensions, according to Bank of America Chief Executive Brian Moynihan.

Postal banking in the U.S. hasn't gotten off the ground, partly because of strong resistance from American banks. But a successful trial offering of affordable consumer loans by Toronto-Dominion and Canada Post, and their plans to take them nationwide, are a reminder that the idea persists.

The Rhode Island bank has launched a program that allows companies to use interest earned on their deposits to purchase credits. It's a way for companies to address climate change without reducing their own hard-to-abate emissions.

Sterling Bancorp is suing its founder and former CEO, Scott Seligman, to get him to repay dividends it alleges are tied to his influence over its problematic Advantage Loan program. The lawsuit claims Seligman was so controlling he even used a robot — nicknamed the "Scott Bot" — to surveil employees.

Royal Bank of Canada expects to gain more market share in the U.K. wealth management business in the years ahead, with its technological capabilities key to attracting clients.

Some of the Revlon creditors who were accidentally sent more than $900 million by Citigroup were denied a bid for a wider review of an appeals court ruling that they had to give the money back.

Minority farmers who sought to take advantage of a U.S. debt-assistance program claim in a lawsuit that the government failed to provide any of the promised relief and reneged on a deal to resolve their discrimination claims.

Inflation, war in Ukraine and the fallout from the pandemic have all had companies calling their bankers to discuss M&A and other corporate moves. Here's how the geopolitical landscape is affecting banks and the clients they serve.

The $1.1 billion-asset credit union — now known as Skyla Credit Union — changed its name to reflect an August 2021 merger with the neighboring Premier Federal Credit Union.

Some online banks are offering the highest rate on savings accounts only to new customers. The strategy could suppress deposit costs at a time when the Federal Reserve's aggressive rate increases have begun to put pressure on expenses.

The financial advisory firm cited recent conversations with the Federal Deposit Insurance Corp., where the current leadership is widely seen as unwelcoming of efforts to open new ILCs.

Walden Mutual in New Hampshire is targeting a mid-November opening after winning final approval for its deposit insurance application from the Federal Deposit Insurance Corp.

Prosperity will pay $341.6 million for First Bancshares of Texas and $228.7 million for Lone Star State Bancshares. Both deals are slated to close early next year.

The world's biggest climate-finance alliance has sought to dismiss reports that a number of Wall Street banks are threatening to leave, as it races to bring its house in order in the run-up to next month's COP27 climate summit.

Women focused on environmental, social and governance issues are seeing career opportunities open as sustainable finance initiatives become more critical to a bank's success.

The National Credit Union Administration took charge of O.F. Toalston Federal Credit Union and Mingo County Education Federal Credit Union over concerns of unsafe and unsound business practices.

Dennis Halpin will conclude his 18-year tenure with the credit union in January.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.