Banking

The combined entity would operate under the Genisys name and hold roughly $4 billion of assets.

The $50 million subordinated debt issuance is large for a credit union and likely the first of its kind to receive an investment-grade rating. It comes days before a National Credit Union Administration rule will take effect to enable a wider range of credit unions to raise capital through debt offerings.

The credit union is looking for its next leader after longtime CEO Bill Lawton announced he will retire this summer.

The lender will start by cross-selling Digit's products, then gradually consolidate the two companies' platforms. Meanwhile, Oportun is working to put questions about its collections practices behind it.

To strengthen ties with entrepreneurs, Citizens Bank of Edmond in Oklahoma and the de novo Genesis Bank in California offer co-working, education and other resources.

Banks that help customers avoid missing important payments are providing a valuable service for which they should be compensated. Though some banks use deceptive practices, customers are willing to pay for a transparent service.

The new state law, signed by the governor Wednesday and backed by the financial services industry, is intended to make notary services more accessible for older people, those with disabilities and residents of rural areas.

Before joining TAPCO, Justin Martin was executive vice president and chief operating officer at Verity Credit Union.

The trade group chose Brian Knight to succeed longtime leader Lucy Ito, who announced her retirement earlier this year.

Banks have extra reason to be concerned by the news that a commonly used piece of software could be exploited by hackers.

Yan Zhao, President of NYDIG as she exploreshow Bitcoin is experiencing wider adoption in the traditional finance world, and why that is.

The buyer, Union Bank of the Philippines, will pay about $904 million for Citi's local credit card, unsecured lending, deposit, brokerage and investment businesses.

There are more than 20,000 Holocaust survivors in the New York City area, and roughly a third of them are said to live in poverty. New York-chartered financial institutions should voluntarily waive transfer and processing charges on payments to reparations recipients, the state’s financial services regulator says.

The mission of the North Carolina company, founded by banks to archive digital images of checks, has evolved over the last 20 years. It is migrating to a public cloud to help it expand beyond check services.

President Biden extended the pause on federal student loan repayments by another three months as the U.S. faces a fresh wave of COVID-19 cases from the omicron variant, removing a near-term threat to millions of Americans’ finances.

These executives are adapting to changing customer demands amid rebounding M&A and coronavirus-related challenges.

A dispersed workforce presents added cybersecurity challenges resulting from employees accessing their organization’s networks through a home connection. This new reality reinforces the need for financial institutions to transform their digital infrastructure to guard against breaches.

The Consumer Financial Protection Bureau sued LendUp in September, alleging that the digital payday lender consistently misled customers about the benefits repeatedly using its loan products.

Credit unions are looking for approval to hold digital assets like Bitcoin directly, after a federal regulator clarified they can provide cryptocurrency services to customers by partnering with third parties. 

The state Department of Financial Protection and Innovation issued a cease-and-desist order against Nano Banc, saying the troubled bank violated an earlier consent agreement when it replaced five board members and appointed a new CEO without the regulator’s permission.