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Village Financial Credit Union expects to begin operations this year after it receives additional capital and a charter. It plans to serve a part of Minneapolis that has no traditional banks or credit unions but is overrun with payday lenders.
February 10
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The Federal Trade Commission recently issued an advisory opinion that could make it easier for consumers to recover their legal costs from banks in situations where they were defrauded by a car dealer.
February 9
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The board of directors has hired Kyle Gurzynski to succeed longtime chief executive Patty Preuss, who plans to retire on April 29.
February 9 -
With their costs soaring, farmers may need credit to make ends meet. Bankers see this as a chance to offer more loans, but worry that some borrowers may not be able to make their payments.
February 9
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The company has agreed to pay at least $3.75 million to resolve allegations that it violated the District of Columbia’s 24% interest rate cap.
February 8
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One group seeks a change in leadership, the other a sale of the Philadelphia community bank, which is led by Vernon Hill. Both are ratcheting up their campaigns against the board.
February 8 -
Banks that rank high on a Fintech Similarity Score made the most government-backed small-business loans outside their local area, a study found.
February 8
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Borrowing on plastic climbed by $52 billion in the fourth quarter, the New York Fed found, as consumers splurged on holiday shopping and inflation drove up the cost of goods and services. It's the biggest jump in the 22 years the data has been tracked.
February 8
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PSCU is working with EnaComm to build web and mobile applications for prepaid cards.
February 8
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Buffalo, New York-based M&T is the latest bank to announce changes that will save customers money but also reduce service-fee revenue.
February 8
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The sale of Wilmac Corp. led the one-branch Wilmac Employees' Credit Union to combine with Belco Community Credit Union.
February 7
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The March hearing, to be hosted jointly by the Federal Reserve and the Office of the Comptroller of the Currency, is coming at a time when lawmakers and community groups are pressing federal agencies to apply more scrutiny to bank mergers.
February 7
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Stablecoins are unlikely to be the future of payments despite their growing market value in the last two years, according to a Federal Reserve Bank of New York blog post.
February 7
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Six members of the Senate Banking Committee are asking questions about a flurry of lawsuits against credit card customers. The bank denies that it has resumed using robo-signing.
February 7
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On Sep. 30, 2021. Dollars in thousands.
February 7 -
On Sep. 30, 2021. Dollars in thousands.
February 7 -
On Sep. 30, 2021. Dollars in thousands.
February 7 -
The world’s leading rater of green credentials is rewarding some of Wall Street’s biggest banks even though they continue to lend billions of dollars to fossil-fuel companies.
February 7
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The Independent Bankers Association of Texas has developed a social network for users nationwide to share their experiences with technology upgrades, as an alternative to hiring an expensive consultant.
February 7
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The Pakistan-based buy now/pay later startup is expanding to the U.S. and regional markets by introducing its one-click checkout product, its CEO says.
February 7
