Banking

JPMorgan Chase and HSBC are among the banks that have set up shop in virtual worlds or plan to.

The move away from the scandal-plagued London interbank offered rate is going smoothly, according to a new survey of lenders and corporate borrowers. But many customers still face operational challenges ahead of a mid-2023 deadline for switching older loans.

Banks across Europe and the U.S. committed to lend tens of billions of dollars for leveraged buyouts and acquisitions. Now they need to find buyers for the debt, and demand is relatively weak.

PayPal does its part in Ukraine, recognition for U.S. Bank and more in banking news this week.

In an update to an exam manual, the Consumer Financial Protection Bureau says racial or other bias associated with a wide range of financial products — not just credit — is illegal and subject to CFPB enforcement actions.

In response to the war in Ukraine, the custody bank is no longer pursuing new business in Russia. Citigroup, JPMorgan Chase and Goldman Sachs have all announced similar moves.

European banks trying to decide whether and how to leave Russia in the wake of the invasion of Ukraine are finding that extracting themselves will be slow, costly, and may come with a reputational price no matter what they do.

Lynn Fuller, a onetime CEO of the Iowa company, called his ouster “retaliation” for publicly criticizing Heartland’s strategy. He had planned to step down as chairman in May.

The California bank will let customers of a neobank called BayaniPay Wallet use its branches.

Municipal is one of two credit unions to be released from conservatorship this year. It's no small feat — the last time it happened was in 2016 — but the National Credit Union Administration may have a hard time preventing other troubled institutions from being shuttered or acquired.

Nearly a quarter of respondents in a recent Credit Karma survey said that their total debt increased after using “buy now, pay later” services, which allow users to pay off purchases in installments over a few weeks.

Dontá Wilson, American Banker’s Digital Banker of the Year for 2021, succeeds Brant Standridge, who recently left the North Carolina company for a position at Huntington Bancshares.

Seven of the 10 largest merger agreements since 2012 have been struck in the last year and a half. Here's a look at how they stack up against each other.

The Vernon Hill-led bank is being buffeted by a board rebellion, a lawsuit and a burgeoning proxy fight all tied to the complaints of two investor groups that say their returns are subpar if not in the negative.

The bill, designed to enhance branch safety, was passed as part of the $1.5 trillion omnibus spending package signed by President Biden.

The two Wisconsin banks have roughly $3 billion of assets and more than 20 branches.

Texas is seeking information from more than a dozen major finance firms on whether their operations discriminate against the fossil-fuel industry. 

The $1.38 trillion U.S. leveraged loan market is nearing an innovation that could finally shift back-office operations to a centralized system and away from investors having to manually track their positions — a process that can still include the occasional fax.

HSBC Holdings promised to “phase down” its financing of the fossil fuel industry, sending a warning to oil and gas clients as the bank works toward its target of net-zero emissions.

BNPL providers earn most of their money from their merchant partnerships, not late fees, as their critics claim.