Banking

Wages, marketing spending and technology investments are all on the rise. While higher interest rates should eventually help tame inflation, it's not clear how quickly banks will be able to limit their spending increases.

Maria Tedesco, the bank's president, added the role of chief operating officer with a mission of unifying workflows from the back office to front end. This frees up CEO John Asbury to augment Atlantic Union’s fintech investments and scout for potential acquisitions.

The Science Based Targets initiative (SBTi) is weighing whether to set a hard deadline for financial firms to halt new fossil-fuel investments, if they want their net-zero emissions targets verified by the United Nations-backed group.

January was a quiet month for traditional bank mergers and acquisitions, but some big-name firms still struck big deals. Here's a look back at the month's most noteworthy deals.

Toronto-Dominion Bank’s U.S. retail banking unit is eliminating charges for overdrafts of $50 or less, joining a parade of lenders revamping their fees amid criticism from politicians, regulators and consumer advocates.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, has cautioned banks, credit unions and fintechs about fair-lending violations that may stem from reliance on artificial intelligence. His comments threaten to discourage financial firms from using the technology to crunch nontraditional data about borrowers, experts say.

Using its new designation as a community development financial institution, Kitsap plans to offer loans and low-cost mortgages to underserved consumers in its communities, including Native Americans and the elderly.

Six weeks after receiving a $237.5 million investment from the Treasury Department, the community development financial institution has struck a deal for Premier Bank of Arkansas.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

Community bankers are excited that the Federal Reserve is poised to raise interest rates, which would make loans more profitable — unless rates rise so much they suppress demand.

Overdraft fees have been a reliable revenue source for decades, but the charges have fallen into disfavor amid regulatory scrutiny and competition from neobanks. Here's a look at the steps various large and midsize banks are taking to reduce or eliminate the fees, as well as their plans for what's next.

The National Credit Union Administration's first prohibition order of the year addresses a former vice president of lending at a Virginia credit union who was accused of improperly approving business loans.

Carol Minges, who joined the St. Louis institution in 2008, will step down as chief executive on April 1.

Executives said record-high commercial loan commitments in the fourth quarter validate the San Antonio bank’s decision to open more than two dozen branches in Houston and pursue a similar path in Dallas.

The National Credit Union Administration would require federally chartered institutions to have a plan in place to replace key positions amid concerns over consolidation and the aging of credit union leadership.

The bank is working with a tech company to personalize customer communications using proprietary data. It's an alternative to cookies, which are becoming less viable as data privacy laws become stricter.

Few banks have adopted an instant invoicing technology called Request for Pay, but more may get on board to help their customers avoid overdraft charges.

When big banks trim their branch networks, community banks operating in the same markets see a chance to pounce.