Banking

The layoffs appear to be focused on the company's bank subsidiary, according to the San Antonio Express-News. USAA declined to provide any details on the job cuts.

The North Carolina bank bought technology from Zaloni in an effort to boost data collection, metadata management, advanced analytics, artificial intelligence and machine learning.

Data as of Jun. 30, 2022. Dollars in thousands.

Data as of Jun. 30, 2022. Dollars in thousands.

JPMorgan Chase led U.S. banks increasing direct loans to states and local governments last quarter as the firms filled a void left by mutual fund investors who fled the traditional municipal bond market amid soaring inflation and surging yields.

A luxury yacht formerly owned by sanctioned Russian businessman Dmitry Pumpyansky will be sold at auction on Tuesday after the billionaire failed to repay JPMorgan Chase a loan, according to an auctioneer's website.

Small-business owners who can't get loans from traditional sources need alternative ways to access capital.

Brad Warner will retire as president and CEO of the Chambersburg, Pennsylvania, credit union in early 2023. Patriot has formed a committee and hired Modern Executive Solutions to conduct the search for Warner's successor.

Conversations with about a dozen Credit Suisse dealmakers, traders, financiers and wealth advisors depict a unit girded for a reckoning.

The $369 billion directed toward climate preparedness in the Inflation Reduction Act is expected to reverberate through the economy for years to come and could supercharge private investment in the nation's clean energy sector. 

Advances by Federal Home Loan banks hit a 15-year low last year, but commercial banks and other financial institutions are clamoring for more as loan demand has increased and deposits have ebbed. How long will the trend continue?

Mos, a company that started out helping students find financial aid, is embellishing its banking features with cash advances, gig finding help and financial advice.

Rising costs and other factors are leading more consumers to borrow money, pitting banks against credit unions and fintechs for this business.

Carlos Garcia of Professional Holding Corp. in Coral Gables would serve as CEO of the holding company for Nave Bank, which seeks FDIC approval to be the first federally insured digital bank in Puerto Rico.

With financial literacy apps, scholarships and college-team sponsorships, credit unions are fighting for market share among students.

The credit union's CEO said a state judge supported the regulatory opposition to its bid to acquire Premier Bank in Omaha, effectively killing the deal.

Citigroup's markets operation had hundreds of blind spots, allowing for potentially abusive transactions to go unnoticed in almost 900,000 trades processed every day at the bank's Canary Wharf headquarters for more than two years.

How many more decisions will CFPB Director Rohit Chopra make without appropriate stakeholder input?

Wells Fargo bungled the 2020 sale of Occidental Petroleum shares on behalf of an employee trust, leading to millions of dollars in losses when the bank failed to execute trades as planned before the COVID-19 pandemic tanked the stock market, a judge in Texas ruled.

More than half of the nation's 20 largest commercial banks, including Citigroup and PNC, have stopped charging nonsufficient-funds fees, and another four are scheduled to end the practice by year-end. That leaves three holdouts: SVB Financial, Huntington and MUFG Union Bank.