Banking

Savarese was drawn to a career in the financial services industry after witnessing firsthand how economic stability can improve the lives of others. She then spent 17 successful years running the Massachusetts mutual.

The bank has agreed to pay $113 million for the $500 million-asset Surrey Bancorp, which specializes in credit for small to midsize commercial clients as well as government-guaranteed loans.

President Biden called on the U.S. Supreme Court to let his student-loan relief plan take effect, setting the stage for a multibillion-dollar showdown that could affect more than 40 million borrowers.

Through lending programs, financial coaching and hiring practices tailored for inclusion, these CEOs provided crucial services to underserved communities.

The British lender is offering to provide support for laid-off workers starting new fintech businesses and hopes to attract staff for some of its thousands of technology job vacancies.

America's largest bank says it wants to make it easier for small businesses in communities of color to get loans. Under its program, applicants who previously may not have been approved are more likely to get an OK, and borrowers who received higher rates could qualify for a cheaper loan.

A divided Washington needs to come together on an issue of importance to all Americans: improving access to cutting-edge consumer financial services products.

Derek Hebert, formerly of University Credit Union in Maine, succeeds Dan Byron, who retired in March.

Don Kimble served for nine years as the Cleveland bank's CFO. Chief Strategy Officer Clark H.I. Khayat is set to replace him.

Even though there has been some progress over the last eight years, men continue to hold many more board seats and jobs on executive teams than women, according to a recent report from DBRS Morningstar.

TAB Bank's debit account, which rewards users with partial stock shares, is boosting the company's appeal among consumers who are younger, tech-savvy and underbanked.

The subprime consumer lender, whose stock price has sagged this year, is being sold to an asset management firm. Elevate's CEO told employees that "the current market conditions present a challenging backdrop for our organization and so many others in the consumer finance industry."

The bank postponed its quarterly earnings report and warned of a $27.5 million loss tied to troubles in its digital- asset mining loan portfolio.

The National Credit Union Administration has asked Congress to restore its authority over credit union service organizations and other vendors, but some in the industry say the regulator already has enough on its plate.

Btech Consortium, a partnership between several small banks, a venture capital firm and an asset manager, will identify emerging technologies that meet their members' near-term needs.

Farmers and the bankers who lend to them are increasingly concerned that rising costs will hasten a recession and hamper credit quality in 2023.

The Kentucky Bankers Association is seeking to halt Attorney General Daniel Cameron's investigation into climate commitments made by six large banks. The suit alleges that the AG overstepped his authority by seeking to compel the banks to turn over certain documents and communications.

Burke & Herbert Financial Services in Alexandria, Virginia, plans to list its shares on the Nasdaq stock market — not to raise funds, but to boost its profile with investors.

The San Francisco bank joined Bank of America, U.S. Bancorp and Huntington Bancshares, which have previously introduced similar products. The Pew Charitable Trusts said the loans are a more affordable option for cash-strapped consumers than payday loans and overdraft fees.

The $121 billion-asset consumer lender paused its share repurchase program in July as it conducted an internal investigation of its servicing practices. Analysts said the resumption of buybacks is a positive sign regarding the company's ability to resolve the lingering issues.