Banking

Unity of Eatonville Federal Credit Union will spend its first year focusing on auto lending and deposit services.

Kit Snyder, who has led Consumers since 1983, will be succeeded by Scott Sylvester, the credit union's chief operations officer.

Eli Tinsley, the bank's chief banking officer, was promoted to president and chief executive.

Experts discuss the proliferation of chief diversity officers across the industry and what it may mean for future progress in diversity.

The Oklahoma bank is eager to take the ground some competitors are ceding in oil and gas financing.

Darryl White has made no secret of the Canadian company’s intentions to expand its U.S. presence, and the deal for San Francisco-based Bank of the West would give it a foothold in the nation’s largest and richest state.

Alloy Labs Alliance, a consortium of community banks, is working with the fintech Payrailz on a project called "Chuck" that would route peer-to-peer payments over different networks, based on which is least expensive for each transaction.

Some established financial technology companies like Robinhood are said to be refusing to accept funds from accounts at young digital-only banks that they say are growing too fast to deter fraud. The companies being blocked respond that it’s an unfair, scattershot approach.

The acquisition would give Avadian, which is based in Birmingham, two more locations in its home state and increase its assets to approximately $1.2 billion.

On Sep. 30, 2021. Dollars in thousands.

Ravi Mallela will step down as chief financial officer in early January. Chief Risk Officer Ralph Mesick will serve as interim CFO while the company searches for Mallela's replacement.

The combination of First Service Credit Union and People’s Trust Credit Union would create an institution with over $1.3 billion of assets and more than 98,000 members.

The consumer bureau asked for public feedback about payment platforms as part of a focus on the Silicon Valley giants’ financial services aspirations. But comment letters so far have been dominated by users complaining that they lost money on the big-bank-owned peer-to-peer network.

Credit risk management is about to get a lot more complicated for commercial lenders as major central banks raise interest rates. Banks need to learn to parse new kinds of data to avoid problem loans.

The year's biggest storylines included an M&A revival, a reexamination of overdraft fees, a changing of the guard in Washington and the rise of new technologies. Here's a look back.

PNC, Bank of America, JPMorgan, Wells Fargo and Citi have all introduced automated projections for commercial clients in recent months. Fintechs that cater to small businesses had pioneered the niche.

David S. Sprague, who has led Hanscom FCU since 1996, will become a member of the credit union’s board of directors after stepping down as chief executive.

Tonia Niedzialkowski will succeed longtime CEO Bernie McLaughlin, who is set to retire in late January.

Technology that Biz2Credit used to help certified public accountants obtain Paycheck Protection Program loans for their clients is being updated to offer term loans to small-business owners.

The Alabama bank is buying Clearsight Advisors to add to its booming capital markets division.