Banking

Capital One and a few others are emulating upstarts like Chime and Varo, which let customers access their paychecks two days before payday. But loss of overdraft income and potential liability for errors dissuade many banks from changing their ways.

It's HBT Financial's first bank acquisition deal since its 2019 IPO.

Mark Carney, a onetime Bank of England governor, argued that banks should not cut ties with polluting businesses, but rather work with clients to help them minimize their impact on the environment.

The move brings state-chartered banks and credit unions in sync with their federal counterparts by enabling them to open checking accounts for consumers who have had accounts closed for writing bad checks.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

Math-based machine learning tools hold substantial promise in advancing the fairness of consumer lending and developing benchmarks for the entire industry.

JPMorgan Chase hired executives from Goldman Sachs Group and Wells Fargo to run a new arm focused on growth-equity investing and direct lending, as it seeks to give clients exposure to companies before they go public.

The $23.3 billion-asset Simmons would make big market-share gains in Memphis and Nashville with its deals for Triumph Bancshares and Landmark Community Bank.

On customer satisfaction and trust, traditional banks scored higher than upstarts in a new study of consumers who took out personal loans.

The Curql Fund, an investor in upstart technology companies, is trying to help credit unions build relationships with cutting-edge firms.

The Dallas bank's $295 million acquisition of First Florida Integrity would give it its first presence on the East Coast.

Online and mobile banking traffic at Bank of America soared in the last year, including a 60% spike in the use of its virtual assistant Erica. David Tyrie, the company's head of digital, wants to keep driving adoption by pitching financial planning tools to millennials and Gen Z.

China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first sign of progress after a regulatory crackdown torpedoed the fintech giant’s record listing.

Adding Community Bankers Trust would help United fill a key service gap between its branches in Northern Virginia and the Carolinas. It's United’s 33rd M&A deal under CEO Richard Adams.

Ally and Huntington are the latest banks to take steps that will reduce revenue from customers who spend money they don’t have. The moves come at a time when technological, regulatory and social forces are converging to encourage change.

The acting comptroller of the currency, appointed by the Biden administration, signaled that the regulation meant to provide legal clarity about the secondary market is safe for the time being.

Rising inflation could lead to a rate hike, bolstering lenders' profits in 2022. Improved credit quality and an economic rebound are also fueling investment in the sector.

The online bank's decision to stop charging the fees is part of a broader reassessment across the industry. Ally had waived overdraft fees early in the pandemic and has historically been less reliant on them than many other institutions.

Acquiring its local rival would give First Bank a commanding presence in Fayetteville and add to its presence in Raleigh, Charlotte and Wilmington.