Banking

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.

Erin Komorowski, a seven-year company veteran, will spearhead efforts to respond to climate change and increase diversity.

Delana Bolen, the new chief executive of Baylor Health Care System Credit Union, was most recently vice president of sales and support for Cornerstone Resources.

The technology giant is partnering with a fintech firm to deploy $25 million of deposits at minority-owned banks, community development financial institutions and other mission-focused lenders. It’s part of a broader effort by the iPhone maker to combat systemic racism.

A U.S. District Court ordered the Philadelphia-based bank, headed by Vernon Hill, to respond by Monday to Driver Management’s claim that its board improperly postponed a May 10 shareholder meeting.

Properly designed public banks would be safer than private banks while promoting economic growth.

Multiple factors have slowed residential sales, tightening the market for home loans for banks and credit unions.

A cannabis-related company said it has secured a $60 million credit facility backed partly by East West Bank. The California-based regional bank is moving into a realm once dominated by small banks, credit unions and more expensive nonbank lenders.

The San Francisco bank is following the lead of other U.S. megabanks by providing shorter-term targets ahead of 2050 climate pledges.

Over the past year, BofA has launched or enhanced a slew of technology-based features for business clients of all sizes, from a “start a business” microsite to cash-flow forecasting.

Financial losses stemming from sanctions and the threat of cyberattacks are just some of the major concerns from across the industry.

Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

The Florida bank said it would pay $173 million to buy Drummond Banking, which operates 18 branches in the northern part of the state.

Lenders argue that they're taking steps to eliminate or rein in the consumer fees, but several Democratic senators say reform legislation could be a necessary step in the near future.

Tansley Stearns will succeed the organization's longtime chief executive Bill Lawton in June.

Klarna will begin reporting the use of buy now/pay later products to U.K. credit reference agencies, which could see the increasingly popular mode of financing impact users' credit ratings.

Massachusetts Democrat Elizabeth Warren has called Jamie Dimon the "star of the overdraft show" because of the billions of dollars JPMorgan Chase has made from those banking fees. Now she’s telling Dimon and two of his fellow Wall Street chief executives to stop the show.

The New York credit union is using robotic process automation tech from Blue Prism to handle time-consuming tasks related to data entry, collections and other needs. This frees up its employees to focus on the organization's expansion.

The chances of an economic slowdown are rising as the Federal Reserve is poised to take further steps to tame inflation, say the heads of JPMorgan Chase, Bank of America and Morgan Stanley.