Banking

Even "lifers" are considering new jobs as financial institutions bulk up to expand into new markets.

Former Federal Reserve vice chair for supervision Randal Quarles delivered his strongest rebuke yet to the idea that the U.S. needs a central bank digital currency to avoid falling behind other countries, calling the argument one "you expect from a 17-year-old, but not from a central bank."

The $2 trillion-asset company has appointed a new CEO and chief operating officer of its growing business in the U.S., Mexico and other parts of the Western Hemisphere.

Investors had grown increasingly concerned that Russia’s invasion of Ukraine — and the ensuing financial sanctions thrust upon many of Russia’s largest banks — would thwart Citigroup’s efforts to exit its operations in the country, a push the New York-based lender first announced last year.

The wealth programs in the channel are going through a significant shift amid major recruiting moves and consolidation, according to a consultant’s report.

After failing to win funding for a direct-lending program last year, Small Business Administration chief Isabella Casillas Guzman says the agency continues to study the option because banks and credit unions are making fewer small-dollar 7(a) loans than several years ago.

On Dec. 31, 2021. Dollars in thousands.

On Dec. 31, 2021. Dollars in thousands.

On Dec. 31, 2021. Dollars in thousands.

Ana Botin, the chair of Banco Santander, called Mexico a “growth engine” for the bank but cautioned that the lender would only seek to buy Citigroup’s retail business in the country if certain requirements are met.

Richard Helber stepped down after 12 years as Tropical's chief executive. He will hold an advisory position through the end of the year.

The Fed waited too long to address inflation. Now we can expect higher borrowing costs as well as inflation.

First Century Bancorp has terminated its sale to First Internet Bancorp because the two banks were unable to close the transaction on schedule and failed to agree on terms for an extension.

First National Bank of Omaha, FNB Community Bank and Community Spirit Bank are among institutions turning to Instagram for marketing.

Some deficit hawks worry such a move could worsen the inflation that is already weighing heavily on Democrats’ chances of maintaining control of the House and Senate. But that dollar amount may not go far enough to appease progressives.

The National Credit Union Administration’s prohibitions for this month addressed allegations of embezzlement and loan doctoring.

The San Antonio bank is preparing to offer all customers — not just those with direct deposit — a break on overdraft charges. But CEO Phillip Green explained in an interview why he’s not prepared to step away from the fees altogether.

Bankers object to the Consumer Financial Protection Bureau's request on “exploitative junk fees” that produce billions in income for financial institutions, arguing that banks are compliant with statutes that require fees be disclosed to customers.

Banks need to advocate for the advancement of women-owned small businesses. Our economic diversity depends on it.

The Cleveland bank, which currently charges around $33 when customers spend more than they have in their accounts, is planning a series of overdraft-related reforms. Key follows numerous other large and midsize banks that have taken similar steps.