Banking

The acquisition of Bend Financial will accelerate the Connecticut bank’s efforts to deliver an improved digital experience to HSA customers, executives said.

By helping consumers understand how to manage their money in a world of shifting financial options, banks can differentiate themselves from new competition and stay relevant.

The chief executives at 11 large and regional banks have been on the job for 21 years or more. Here's a countdown of who they are and how they've endured.

Brian Waldron, who joins from Hudson Valley Federal Credit Union in Poughkeepsie, New York, will succeed Vicki Hawkins, who is retiring.

The Consumer Financial Protection Bureau is raising concerns about exclusive government contracts and the fees that recipients of public benefits get charged. “Barriers to choice kill competition and can harm families who need every dollar to make ends meet," said Director Rohit Chopra.

As more consumers shop and bank online, Texas Capital and its rivals are competing for market share with concepts such as an American Airlines savings account that offers miles instead of interest and one that pays a 0.70% annual percentage yield, beating the national average of 0.06%.

Employees at Genesee Co-Op Federal Credit Union in New York and Beneficial State Bank in California formed unions in the past year to bargain for better wages and reform their corporate cultures. Will workers at other community institutions follow their lead?

Axis Bank is nearing a deal to buy Citigroup’s India retail banking business, a transaction that could be valued at about $2.5 billion, people familiar with the matter said.

Adrienne Harris said the New York State Department of Financial Services will concentrate more on issues that have a big impact on people’s pocketbooks. The agency announced a move Monday that will likely save money for consumers who rely on check cashers.

The fintech-turned-bank has bet big on pro football marketing. Sunday’s game at SoFi Stadium should give its customer acquisitions a boost, analysts say.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

Year to date Sep. 30, 2021. Dollars in thousands.

Banks and companies that use artificial intelligence to make loans agree with regulators that it should be tested for fairness. But they also say traditional loans could be just as biased.

Northern Lights Acquisition, a special-purpose acquisition company, is paying $185 million in cash and stock to purchase Safe Harbor from Partner Colorado Credit Union, which launched the lending unit last year.

A federal judge last week upheld "valid when made" rules that support such arrangements. But analysts say an appeals fight is likely, and new leadership at the OCC and FDIC could change the agencies' view of interest rate exportation across state lines.

People moves, Peter Thiel, AI for bullion sales, fraud sentencing and more in banking news this week.

Affirm shares tumbled after the buy now/pay later firm whipsawed investors with an errant, early release of partial financial results and then forecast quarterly revenue that missed analyst estimates.

Unify Financial Credit Union is using a 30-second spot featuring safety Terrell Burgess to highlight the Texas organization's expansion within California.

Starling Bank Ltd. is weighing plans for a fresh funding round that could value the U.K. challenger at around 2.5 billion pounds ($3.4 billion), according to people familiar with the matter.