Banking

Standard Chartered's joint venture with an arm of Singapore's biggest trade union group started digital banking services in the city-state, adding to rivalry in the space where tech giants are also seeking to make their mark.

Marcus and Upstart are two companies that got high marks for customer satisfaction from J.D. Power but rely on digital methods to reach and underwrite borrowers.

Jefferies Financial Group asked staffers to come back to the office on a more consistent basis as it looks to work through its investment banking backlog in the coming months.

The institution took the lead spot in American Banker's annual ranking of Best Credit Unions to Work For in part by giving employees freedom and flexibility in how they do their jobs.

President Andres Manuel Lopez Obrador is making it very difficult for Citigroup to fetch a price even vaguely close to the $12.5 billion it paid for the bank two decades ago. 

Gulf Winds Credit Union in Pensacola has hired Daniel Souers as its next president and CEO, effective Oct. 1. He will succeed Chris Rutledge, who is retiring.

Banks have shuttered their branches in droves, with Bank of America and Wells Fargo leading the pack over the past year. However, increased regulatory focus on banking services in lower-income areas makes downsizing more difficult now.

The state Supreme Court heard oral arguments in a lawsuit involving one of the nation's largest debt buyers. At issue is how much detail the industry must disclose about what consumers allegedly owe.

The Federal Reserve will roll out its much-anticipated instant payments system, known as FedNow, in the middle of next year. Yet many questions remain about who it will serve, how it will work and how quickly community banks will buy in to it.

Goldman Sachs Group is tapping the former No. 2 official at the International Monetary Fund and veteran of the Trump administration's trade wars with China to strengthen its ties with international governments.

SRP Federal Credit Union in North Augusta named Eric Jenkins as the organization's next leader, effective Sept. 1. He will succeed current interim president Woody Shuler, who has led the $1.7 billion-asset credit union since November, 2020.

10 things to know in August: Community banks are partnering with smaller core providers for tech overhauls, Bread's outage leads to a consumer uproar and more.

The Delaware-based bank sees a particular opportunity to serve senior living communities and long-term care facilities. It has hired Kevin McKeown from Fulton Bank to run the new group.

Merely telling employees what to do may get the job done, but telling them why they're doing it fuels engagement.

New policies, aided by partnerships with local organizations, are helping credit unions make significant progress on DEI.

At least two credit unions — Wright-Patt Credit Union in Ohio and Weokie Federal Credit Union in Oklahoma — have recently handed out bonuses to help employees meet rising expenses.

The acquisition of Central Financial, expected to close in the first quarter of 2023, would create a bank with more than $10 billion of assets.

Since last year, banks have sharply reduced what they charge when consumers spend more money than they have, according to new research. Monthly maintenance charges and fees for using out-of-network ATMs have remained much more stable.

BofA has launched two programs, one focused on increasing homeownership for Black and Hispanic Americans, and the other on small businesses owned by women and minorities that buy commercial real estate in federal opportunity zones.

The Federal Reserve is closing in on the launch of its real-time payment settlement system next year. By that time it will be six years behind the private-sector alternative, and it could prove to be redundant to a future Fed-issued digital currency.