Banking

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.

The Edwardsville, Illinois, credit union has agreed to merge with South Division Credit Union in Illinois. The deal comes shortly after Scott agreed to buy Tempo Bank.

The creators hope CU Offers, which lists discounts at local and national businesses, will attract new members and strengthen ties with existing ones. But observers are skeptical that it will drive real growth or inspire frequent use.

To satisfy a condition of its sale to BancorpSouth, Cadence Bancorp is selling the branches to First Bancshares in Hattiesburg, Mississippi.

Massages, a "bring your dog to work" policy, telemedicine and Zoom happy hours help these credit unions strike the right balance between work and personal needs.

These credit unions range offer perks such as higher starting wages, on-site training and annual bonuses. They also foster a sense of community with game nights, holiday parties and birthday celebrations.

Employees of these credit unions, the largest of this year's Best Credit Unions to Work For, get perks such as one-on-one meetings with the CEO, time off to volunteer, and better loan rates.

The Dallas bank unveiled an initiative that involves doubling its client-facing headcount across the Lone Star State and expanding its investment banking division. But its stock price plunged amid concerns about how long it will take to deliver returns for investors.

The Toronto-based bank will take over the account from Capital One, which is ending its deal with the membership-only retail chain.

Hoping to slow the pace of deals, the Independent Community Bankers of America is urging lawmakers to impose a tax on credit unions that acquire small banks. One credit union CEO called the proposal a "gimmick."

JPMorgan Chase settled a longstanding French criminal investigation over allegations it helped clients commit tax fraud for 25 million euros ($29.6 million).

Robinhood Markets is working on a new feature that lets users receive their paychecks via direct deposit up to two days early, stepping up competition with companies like PayPal Holdings and Wealthfront.

A lawsuit filed by Attorney General Maura Healey last year said Credit Acceptance Corp. in Michigan made predatory loans to Bay State borrowers and used deceptive practices to collect debt.

The agency proposed reporting standards for any institution that originates 25 or more small-business loans a year. The measure would be especially burdensome for very small lenders and could limit credit access in underserved communities, critics say.

With its sale to Blue Ridge Bankshares set to close within months, FVC Bankcorp is moving to diversify by taking a 29% stake in Atlantic Coast Mortgage.

Mos, a student financial-aid startup backed by investors including Sequoia Capital and the rap star Jay-Z, is venturing into banking.

The shift away from human contact increased the popularity of kiosks, ATMs and other technologies that allow for more flexibility in payment methods.

The banking industry is now enjoying a "strong" reputation overall, after building on gains made at the height of the pandemic. Here's who stood out and why.

Google has tied up with an Indian small lender to offer time deposits to users of its payments wallet, extending its presence in the nation’s lucrative digital banking space.

The Office of the Comptroller of the Currency is seeking nearly $19 million from David Julian, Claudia Russ Anderson and Paul McLinko. The trial before an administrative judge is scheduled to begin in South Dakota on Sept. 13.