Banking

The crypto lender Celsius Network’s shock announcement that it’s freezing withdrawals sparked a rush by companies in the digital-assets sector to reassure markets about the health of their operations.

The agency’s proposed data collection and reporting requirements would disproportionately burden community banks, which lead the nation in small-business lending.

Allan Rayson of Encore Bank has been named American Banker's Digital Banker of the Year for leading a tech transformation and working with fintech partners that help the Arkansas bank serve commercial customers.

JPMorgan Chase and Bank of America both lost substantial business in the state's lucrative municipal finance market following the passage of laws that ban discrimination against the firearms and energy sectors, according to new data.

The Biden administration’s continued extension of a student loan payment moratorium and the uncertain future of a debt forgiveness plan are causing confusion and uncertainty.

With the industry facing increasing pressure around climate disclosures, a new report highlights the challenges in measuring financed emissions as well as the potential payoff for banks that choose to be proactive.

The American Bankers Association’s credit conditions index fell sharply, as economists foresaw dampening loan demand. The weaker outlook lines up with major bank CEOs’ increased worries over a possible recession.

Despite high inflation and a tight labor market, median compensation at certain banks hasn’t budged much, according to a new report from a left-leaning group. “We can give people a more fair reward for their labor,” one of the co-authors said.

Harper, who was initially chosen to replace Debbie Matz as chair after her retirement, will lead the National Credit Union Administration until 2027.

The nonprofit First Step Alliance is working to launch Diverge Federal Credit Union, which plans to offer loans to cover the costs of gender affirmation surgery for individuals and adoption for same-sex couples.

The products MSU Federal Credit Union in Michigan is developing for transgender and nonbinary members also appeal to international and indigenous people, who often go by names that don't match their birth certificates.

The Consumer Financial Protection Bureau ended the first “no action letter” agreement with a fintech that had provided immunity from regulatory actions.

Young community banks are using a range of options for digital banking platforms.

Codat, a software startup that connects small businesses with financial institutions, raised $100 million in an equity funding round led by JPMorgan Chase’s growth-equity arm.

The Alabama bank hopes that its new InvestPath platform, which combines automation and personal interaction, will attract first-time investors.

Ray Skinner, who was most recently chief executive of Town & Country Bank in Missouri, will lead MNB Holdings, which owns Mission National Bank.

Some of the riskiest loans given to millennials and Gen Z shoppers for clothes and electronics — and neatly repackaged for investors — are dropping in value.

JPMorgan Chase CEO Jamie Dimon and Bank of America Vice Chairman Paul Donofrio were among the high-level executives who last year received multimillion-dollar retention payments. The awards — sometimes known as “golden handcuffs” — were driven by the most competitive job market in recent history.

U.S. consumer borrowing surged again in April, following a record jump a month earlier, fueled by rising prices and the continued strength of American consumers. 

The credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.