Banking

A recent report from banking regulators says the digital assets pose too big a risk to the financial system to be issued by state-chartered entities that don’t have deposit insurance. Stablecoin issuers and others reject that claim and say regulators are discouraging competition.

The U.S. unit of Spain’s Banco Santander is the latest bank to make it easier for customers to avoid the charges.

Bank of New York Mellon will sever ties with the billionaire Gautam Adani’s contentious Carmichael thermal coal mine in Australia, the latest global financial institution to distance itself from the project.

On Jun. 30, 2021. Dollars in thousands.

Even as the pandemic has hastened adoption of digital banking, industry officials say branches remain vital points of contact with consumers.

On Jun. 30, 2021. Dollars in thousands.

The Houston companies emphasized the need for added size to compete with megabanks such as JPMorgan Chase and Wells Fargo.

On Jun. 30, 2021. Dollars in thousands.

Citigroup said it plans to take charges of $1.2 billion to $1.5 billion as it winds down retail banking operations in South Korea, part of CEO Jane Fraser’s sweeping efforts to focus on more profitable businesses for the Wall Street giant.

Wellby, Powered by JSC Federal Credit Union has named Martyn Pell as its president and CEO. He most recently was chief lending officer at Coastal Federal Credit Union in North Carolina.

Northern Hills Federal Credit Union in South Dakota is one of several institutions testing tools that can deliver faster loan decisions, an edge they need against digital upstarts.

Overdraft fees are criticized as unfair penalties for lower-income customers, but they are often better for consumers than getting purchases rejected.

Executives at the 90 institutions that made the ninth annual ranking are boosting benefits to attract new employees, amid intense competition for talent. They're also rethinking how they approach recruiting and increasing their diversity efforts.

Pomona Postal Federal Credit Union is the fifth institution for which the agency has taken this action this year.

Many of the consumers who embraced online and mobile channels during the pandemic are seeking help from human bankers more than ever, according to research from Cornerstone.

The Florida bank's agreement with the core provider FIS is expected to reduce annual expenses by $12 million. Analysts expect more banks to make similar moves.

The $457 million-asset Heritage Credit Union in Deforest has agreed to merge with the $3.7 billion-asset Connexus Credit Union in Wausau, forming a company with more than 420,000 members.

A new proposal to allow the Small Business Administration to offer credit directly would pull customers away from community lenders, writes the head of a credit union trade group.

With its agreement to buy KS StateBank’s residential mortgage operation, Kansas-based Armed Forces is going all in on home lending.