Banking

The Concord-based credit union has hired Anthony Emerson as its next president and chief executive. He was most recently leader of IC Federal Credit Union in Massachusetts.

The credit card issuer benefited from consumer loan growth in the third quarter, but investors seemed spooked by increases in its marketing and technology costs.

Lending momentum is building and tourists have come back, but the coronavirus is a lingering concern for a state that relies heavily on vacationers.

Community banks don’t need to match the biggest banks’ digital offerings or advertising budgets. Where they can compete, and win, is by delivering more personalized service.

The credit bureau's $638 million deal to buy the ID verification firm is its second M&A agreement in a little over a month to broaden its line of products and services that help customers combat fraudsters and identity thieves.

The card network is working with new partners such as FIS and Moneris to connect banks, fintechs and merchants on its Visa Installments Solution platform. Its goal is to provide access to a broader spectrum of consumers than these companies can reach in one-off deals, CEO Al Kelly said.

The recent order by Director Rohit Chopra — issued just days after he was sworn in — demanding that Amazon, Facebook and others hand over information about their payments products is being interpreted as a sign that the consumer bureau wants to take a more active role in regulating the tech giants.

The California bank sued a former executive for allegedly taking trade secrets and using them to build a rival fintech. A recent interim ruling frees Aeldra Financial to move ahead with fundraising while the case continues.

These venture capital firms are investing in young companies that could help small financial institutions meet their growing technology needs.

Brett Noll was most recently CEO of Securityplus Federal Credit Union in Baltimore.

Both Florida State University Credit Union and Florida Department of Transportation Credit Union are based in Tallahassee.

Goldman Sachs Group, in an effort to win more deposits and build out its transaction banking segment, is offering companies slightly higher interest on their accounts if they meet environmental or other socially responsible goals.

Through the Excelsior Linked Deposit Program, participating institutions can offer financing to consumers at a recuced interest rate.

The credit union’s agreement to acquire Midwest Community Bank in Illinois follows two other bank deals it announced this year.

Piermont Bank in New York expects to double its $347 million of assets in a year by extending working capital to financial technology companies. MainStreet Bancshares in Virginia is taking a different approach, hoping a new banking-as-a-service offering will help investors see it as more cutting-edge.

UBS Group is starting a digital wealth manager in the U.S. to grab a bigger share of the country’s market for retirement savings and stock options, in a move that will pit it against the top Wall Street banks on their home turf. 

Businesses trying to meet a surge in demand for consumer goods are knocking on community banks' doors to finance expansions.

The hiring of Scott Dienes, a former Wells Fargo banker, is part of a broader plan to boost lending at the Wisconsin company.

The bank is the first to offer a service from The Clearing House’s Real Time Payments network that lets businesses send bills to retail clients, who are given the option to pay them immediately.

Temenos and Mbanq created a platform to offer technology and compliance services to credit unions via application programming interfaces.