Banking

The $12.3 billion-asset Boston bank set an ambitious three-year target for mortgages and small-business loans in low-income areas. It's a major part of a $5 billion commitment to financial inclusion and clean energy.

An app that strives to be a "one-stop shop" for all money matters is likely to please nobody.

The nation's largest bank has chosen Thought Machines' technology for its U.S. consumer bank.

At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.

Whether to approve the $8 billion deal will fall to the Fed, whose board may be reshaped by President Biden in the coming months. The White House recently called for more robust scrutiny of bank acquisitions.

Only one credit union has answered the National Credit Union Administration's call for feedback on how the industry views and uses cryptocurrencies and blockchain technology.

Senate Majority Leader Chuck Schumer said he planned to move Tuesday to file a discharge petition to move Chopra’s nomination out of the Senate Banking Committee and onto the Senate floor.

By acquiring Citizens Union Bancorp, the Indiana-based German American will gain 11 branches and more than $700 million of deposits in Kentucky’s largest city.

The cash-and-stock deal would add roughly $58 billion of loans and $90 billion of deposits to U.S. Bancorp’s balance sheet, significantly boosting the company's market share in California.

The companies each recently rolled out new contactless checkout technology as they attempt to turn Amazon Prime and Square Cash into platforms that let consumers pay for goods, save money, take out loans at the point of sale and conduct other financial services all in one place.

Community Owned Federal Credit Union in Charleston is the third institution that the National Credit Union Administration has closed this year.

The U.S. subsidiary of Japanese banking giant Mitsubishi UFJ Financial Group has entered into a consent order with the Office of the Comptroller of the Currency that requires it to improve its information security protocols, hire more IT staff and create a board-level committee to monitor its progress.

On June 30, 2021. Dollars in thousands.

Anthony Taylor was recently honored for his hard work in helping build Ascend into one of the largest credit unions in Tennessee. Taylor says he jumped at the opportunity to give back to the credit union that decades earlier welcomed him and other Black consumers when they struggled to find affordable credit elsewhere.

Citizens Financial Group's acquisition of Investors Bancorp — one of the biggest banking combinations announced so far this year — may never have happened if the pandemic hadn't interrupted the seller's merger talks with another bank.

More than a third of installment borrowers are delinquent, according to new research. Fintechs and the banks that are following them into the market are willing to tolerate the credit risk — for now — because of BNPL’s rapid growth and the fee income from merchants.

With tricked-out conference rooms, online career development tools and blocks of time for chitchat, Ally and Citizens are strengthening connections between colleagues during phased returns to the office.

JPMorgan Chase will launch a digital retail bank in the U.K. next week, the first step in the firm’s plans to expand its consumer business overseas.

Josh Wooley succeeds Glenna Jarvis, who retired in June as president and CEO. Wooley had worked at a larger credit union across the Kansas state line.

The agency organized a vehicle seeded with $120 million from anchor investors — including Truist and Microsoft — enabling minority-owned banks and community development financial institutions to seek capital for development projects in underserved areas.