Banking

The use of artificial intelligence and machine learning in financial services, while promising, is not without risk. It's on federal regulators to ensure that algorithms relied on by banks and credit unions aren't harming businesses and consumers.

Take an inside look at leading issues in financial and social inclusion with an industry expert.

Goldman Sachs is boosting its wealth management and consumer banking business as part of a strategy outlined by Chief Executive David Solomon to make it less reliant on trading.

More than 180 community development financial institutions and minority depository institutions will receive the federal funds under a pandemic-era program. “It’s a lifesaver,” a credit union CEO said.

Dane County Credit Union and Heartland Credit Union, both in Madison, have long collaborated on local initiatives.

First Commonwealth Federal Credit Union will gain its first locations in the Garden State by combining with Baker Federal Credit Union.

An investor who holds nearly 10% of Pacific Enterprise Bancorp shares urged others to oppose BayCom Corp’s $53 million acquisition offer, arguing that the price was too low. Despite this, a majority of both banks' shareholders voted in favor of the deal.

Its new widget allows consumers to initiate a payment from their phone's home screen instead of opening an app to potentially reveal their full banking details to prying eyes.

Allan Kemp McMorris was previously CEO of Oakland County Credit Union. He joined Vibe when the two organizations merged in 2019.

HSBC Holdings is planning to phase out the financing of coal used for generating electricity by 2040, the latest bank to commit to ending support for the greenhouse gas-intensive fossil fuel.

The acquisition of MoffettNathanson is the latest in a string of moves by Silicon Valley Bank’s parent company to extend the reach of its investment banking arm into the tech sector.

The National Association of Federally-Insured Credit Unions' new campaign highlights $243 billion in fines slapped on Wall Street banks. The group says it's responding to political attacks, but the banking industry says NAFCU is trying to distract from criticism of its tax exemption.

On Sep. 30, 2021. Dollars in thousands.

An audit found most of the biggest banks and largest community banks fail to meet basic Americans with Disabilities Act rules for website and app readability. U.S. Bank does more than most to make digital channels accessible.

On Sep. 30, 2021. Dollars in thousands.

James Herbert is expected to step away from his duties for six months due to a coronary health issue. Co-CEO Hafize Gaye Erkan will take on more responsibilities.

The Atlanta bank said the deal will accelerate its small-business and commercial and industrial lending while expanding its presence in point-of-sale financing.

A few changes to underwriting rules could result in a huge opportunity for both lenders and minority women who own businesses.

The $6.7 billion-asset Byline Bancorp plans to invest most of the savings into digital banking.

The financial technology firm Chime said customers can now deposit cash at more than 8,500 Walgreens Boots Alliance locations, another example of nonbanks pushing deeper into consumer finance.