Banking

The London bank is working with Nova Credit to accept immigrants' credit histories from their home countries. It also invested $10 million in the company.

Bank of Nova Scotia shares are on pace for their worst year since 2008 as analysts warn of weakness in the Canadian lender's international business and uncertainty about the shake-up in its leadership.

Federal Reserve Gov. Michelle Bowman said a shifting landscape has made it difficult for community banks to compete. She called for bank merger reform to make community bank M&A easier.

With the island still feeling the effects of Hurricane Maria five years earlier, organizations like the Inclusiv Network and the National Credit Union Foundation are providing support to institutions and residents starting to rebuild.

Leaders who set clear expectations do not create hostile settings. If anything, good people are motivated knowing what they do is noticed and matters.

JPMorgan Chase's U.K. digital lender has attracted 1 million customers in its first year of operation, making it one of the U.K.'s most popular neobanks.

Investors are looking past the current boom in loan activity, fearing that inflation and other factors will cool demand and make it harder for borrowers to make payments.

These 10 large banks posted superior returns between 2019 and 2021.

Western Alliance, in its first appearance on the list of leading banks with more than $50 billion of assets, landed at No. 1. The Phoenix company and the other top performers in this class have either created niche businesses, made acquisitions or done both.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.

President Biden's loan forgiveness plan will wipe out about one-third of student debt owed to the federal government, with lower-income borrowers and those living in Southern states getting the biggest boost, according to analysis by the Federal Reserve Bank of New York.

The University of Maryland program announced a 10-year partnership with SECU in Maryland, and Seton Hall University's program will partner with Affinity Federal Credit Union in New Jersey.

Citigroup appointed Grant Carson to manage its operations in Russia as a stand-alone entity as the U.S. bank reduces its business in the country following President Vladimir Putin's invasion of Ukraine.

The all-stock acquisition of Lakeland Bancorp, expected to close in the second quarter of 2023, would create a combined bank with more than $25 billion of assets.

A deluge of password resets in 2021 led the bank to rethink its digital banking authentication process.

Most Americans are more indebted than ever, underscoring a persistent and widening wealth divide in the U.S.

President Biden's decision to forgive some federal student debt will cost at least $400 billion over 10 years, the Congressional Budget Office estimated, which would wipe out the $238 billion in deficit reduction from his tax and climate plan. 

Following an outcry, the Philadelphia company said its chairman and CEO, Harry Madonna — who would receive a $1 million windfall if the bank is sold — won't be part of the strategic review committee set up to evaluate any bids.

The Bank of England's stress tests are meant to provide an unlikely "tail risk" scenario designed to test the resilience of British lenders. The current U.K. market turmoil means this year's scenario is looking increasingly plausible.