Banking

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.

First Citizens BancShares said its $2.2 billion acquisition of CIT Group, closed in the first quarter after months of regulatory delays, is finally coming together.

President Biden said he’s considering a plan to relieve student debt in the coming weeks, but that it would fall short of the sweeping forgiveness sought by Senate Majority Leader Chuck Schumer and progressive Democrats.

The new hires joined Veritex from Bank of Houston, which has also been aggressively recruiting bankers.

With new guidance and a simplified chartering process, the National Credit Union Administration seeks to counter the trend of closures and consolidations.

Block, the digital-payments firm run by Jack Dorsey, is expanding its small-business loans service to Canada, bringing it into more direct competition with the country's biggest banks.

In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.

The Consumer Financial Protection Bureau director told Congress he will revise some rules as the bureau looks to address late fees.

Analysts were expecting Capital One’s marketing spending to slow significantly after it surged to nearly $1 billion at the end of the year.

LincolnWay Community Bank in Illinois has agreed to be sold to CoVantage in Wisconsin, adding to a trend of bank-credit union deals that has drawn backlash from many small-bank executives.

Managers who consciously look to set the tone by brightening work environments with their own smiles and laughter tend to create environments with greater employee and customer engagement.

Lendistry, a fintech community development financial institution, obtained a license that allows it to become one of the few nondepository lenders with access to the Small Business Administration's flagship lending program.

The Mississippi-based First says the deal would allow it to acquire key talent, bolster its presence in northwest Florida and expand into the Tampa area.

In global news this week, scammers target Revolut's program for Ukrainian refugees; Commerzbank applies for a crypto license in Germany; Nium merging with Socash; MyPinPad merging with SmartPesa; and more.

The first-of-their-kind measures, urging banks to move more aggressively to curtail new fossil-fuel lending, garnered between 11% and 13% of the vote at Bank of America, Citigroup and Wells Fargo. Those totals were less than climate activists had hoped to garner, but high enough to clear certain thresholds for resubmission next year.

M&T Bank in Buffalo, New York, named Peter D’Arcy head of commercial banking after completing its acquisition of People’s United Financial earlier this month. D’Arcy will take over from Gino Martocci, who is retiring.

Although small banks and credit unions are enjoying healthier loan portfolios, they are also bracing for potential setbacks due to higher interest rates and inflation.