Banking

The mobile technologist has brought many user experience upgrades to the Arkansas bank. That has earned him a spot in American Banker's Digital Banker of the Year coverage this year.

An aging workforce will likely force banks to reconsider the employees they recruit, especially for executive roles.

Companies such as Biz2Credit, Episode Six and VizyPay look for people from varied backgrounds and pitch their flexibility (or, sometimes, strong office culture) in bids to find great employees.

The Consumer Financial Protection Bureau sent a mass email to thousands of the bank's customers and former employees to gather information about the possible creation of phony accounts. Critics — including a federal judge — say the CFPB asked leading questions and may have overstepped its bounds.

Benson Porter will conclude more than 10 years at the helm of BECU, the fourth-largest credit union in the country.

Consumer Financial Protection Bureau Director Rohit Chopra wants to determine if people are able to get prompt responses from the 175 banks and credit unions with more than $10 billion of assets.

The digital-only Canadian bank plans to expand throughout the U.S. after acquiring a single-branch subsidiary of Stearns Financial Services.

Paul Taylor, one of the company's directors, will become president in anticipation of succeeding Matthew Wagner, who has been chief executive for 22 years and plans to retire at the end of 2023.

Edwin L. Williams, who has been at the helm since 1997, will step down as president and chief executive at the end of the year.

The founder and CEO is being recognized during American Banker's Digital Banker of the Year program for establishing one of the true banking-as-a-service platforms at the New York-based Piermont.

Constraining consolidation will only hurt the goal of expanding consumers' access to banking services and credit.

With household expenses and borrowing costs spiking, banks are bracing for depositors to demand more interest. The only question is how much longer bankers can hold out.

The rules, which come almost four years after California lawmakers passed a landmark disclosure law, require lenders to inform borrowers about annual percentage rates. Some lenders have pushed back, arguing that APRs don’t make sense for certain types of financing.

John Madigan, a Citigroup veteran, is leading one of five new private-client banking groups at Signature Bank. The moves are designed to enable the company to expand its footprint throughout metro New York.

The smaller credit union, Dearborn County, sought a merger partner as a way to address its aging technology and shrinking membership pool.

The two regional banks announced plans to abandon nonsufficient fund fees and make other moves that will reduce the revenue they collect from cash-strapped consumers.

Data as of Mar. 31, 2022. Dollars in thousands.

Data as of Mar. 31, 2022. Dollars in thousands.

Brian Brooks, an acting head of the Office of the Comptroller of the Currency during the Trump administration, says the CEO of one of the largest U.S. banks considered barring customers from using its cards to buy firearms.

Accounting for roughly $1.2 trillion of assets, many credit unions are physically and financially endangered by climate change, according to a new study.