Banking

On Sep. 30, 2021. Dollars in thousands.

Despite rising wages and savings, Americans are stressed by debt and pessimistic about their financial prospects. For banks, delving into the reasons is the first step in helping customers achieve a greater sense of economic security.

The transaction will enable possible acquisitions and provide cost savings of $500,000 a year by allowing the Virginia bank to redeem a block of higher-cost notes.

The prepaid card issuer Green Dot backed out of the deal for fear of inheriting a regulatory problem. Republic plans to pursue a separate legal challenge alleging breach of contract.

Like many smaller financial institutions, Centra Credit Union in Indiana is trying to reduce its tech-maintenance burden by shifting some applications to the cloud, starting with data analytics.

Coming out of the pandemic, traditional banks will have just two years to update their business models or they risk falling behind more innovative peers and aggressive upstarts, the consulting giant warns in a new report.

Hiring fewer front-line workers but paying them more could improve customer experiences, strengthen employee retention and reduce stress for managers.

Bank of Montreal’s heavy focus on commercial lending is paying off as businesses in the U.S. and Canada ramp up borrowing. 

The $129 million deal for Rahway-based RSI would give Columbia a stronger presence in Union and Middlesex counties.

Cornerstone Community Financial Credit Union in Auburn Hills received approval from state regulators to enter new markets in its home state and in Ohio.

The combination is a bid to offer members expanded access to financial services and a larger network of locations.

Charlie Watts was most recently chief financial officer for Colorado Credit Union, a role he held for the past eight years.

Fiserv, FIS, Jack Henry and Finastra, the top U.S. core banking software providers, are stepping up efforts to let banks plug innovative technology from younger fintechs into their legacy systems.

The commissioner of the Tennessee Department of Financial Institutions said Orion Federal Credit Union's deal for Financial Federal Bank violates the Tennessee Banking Act.

The new omicron strain is prompting more financial institutions to extend mask mandates in the workplace and remote work schedules.