Banking

The credit union service organization, which changed its name from CU Realty Services in June, has expanded its service area to cater to more homebuyers and help credit unions secure their mortgage pipeline.

The market for short-term installment credit is growing among millennials and Gen Z consumers who distrust credit cards. Banks are letting a golden opportunity slip away.

James Kim will succeed James Ford, who is retiring, as chief executive.

Net income significantly recovered compared with a year earlier, totaling $70.4 billion. But the average net interest margin fell to another record low as lending remained sluggish, the FDIC said in its quarterly update.

The New Jersey bank plans to reinvest half of the savings into technology development and hiring.

The Rhode Island bank has entered into an agreement to acquire JMP Group, which focuses on the health care, technology, financial services and real estate sectors.

The program, Balance Connect, allows consumers to link their checking account with as many as five other Bank of America accounts and transfers available funds when needed for a fee that's lower than the company's existing overdraft charges.

Marquette University has formed a partnership that will give undergraduate business students experience working with grassroots lenders in Panama, Honduras and Nicaragua. The goal is not only to teach the basics of commercial lending, but also to instill some idealism in the next generation of bankers.

First US in Birmingham will take a $1.2 million third-quarter charge to close the subsidiary. It plans to recoup the expense by focusing on commercial and indirect lending.

The Alexandria, Virginia, organization will change its name next month.

John Faust plans to step down next year, concluding a nearly 30-year tenure as president and CEO of Diamond Credit Union.

It started with an email suggesting there would be consequences for lenders that failed to use the Small Business Administration’s website to handle forgiveness applications for Paycheck Protection Program loans. Then lawmakers got involved.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

The North Carolina bank says the new system, which took one year to implement, will make it easier to compete with challenger banks and customize digital banking services for doctors' offices, dental practices and other small businesses.

In his new book “Inside Money,” Zachary Karabell tells a compelling story about how Brown Brothers Harriman influenced the course of U.S. history.

Join researcher Kerry Gross for insight into why some brands lead and others lag in delivering a humanized customer experience.

Earlier this summer, bankers sounded upbeat about Americans’ purchasing patterns, particularly in connection with loan growth in the credit card business. But more recent data suggests that the delta variant is taking a toll on consumer confidence.

Hranicky, currently the head of middle-market banking, replaces Perry Pelos, who is transitioning to an advisory role and will retire next year.

Jim Harris, who has been president and CEO of University & State Employees Credit Union since 2006, is stepping down from those roles but will remain with the credit union to facilitate succession planning.