Banking

Heritage Southeast Bank in Georgia will become the latest community bank to stop paying federal taxes when it merges into VyStar Credit Union later this year. It's time for Congress to investigate this consolidation trend and its impact on taxpayers.

Fees from investment banking and larger-than-expected reserve releases more than offset a sharp drop in loan volume.

JPMorgan Chase reports first-quarter results; proposed corporate tax hike could boost infrastructure and other tax-advantaged lending.

The company will give retail account holders 24 hours to cancel upcoming payments that would put them in the red. The move addresses customers’ top gripe and will have benefits that offset the lost income, executives say.

The South Carolina credit union has pivoted to an open-concept model that allows for social distancing, along with a walk-up window to serve members outside the branch if lobby access is restricted for any reason.

As the World Council of Credit Unions and its Worldwide Credit Union Foundation work to advance cooperative finance around the globe, one of the industry's biggest players has committed to matching donations up to $1 million.

The San Francisco company has now backed 11 minority-owned banks as part of a $50 million pledge it announced last year.

Ally, Huntington, KeyBank and others are reimagining automated savings tools challenger banks have made popular.

The Michigan-based institution has positioned itself for additional growth by making it easier to qualify for membership.

When it was launched a year ago, the program was criticized for glitches and a focus on larger borrowers. Since then technical improvements have been made, smaller loans have been prioritized, and other changes favored by lenders have been implemented.

Brian Mauntel, who previously served as president of Heartland Bank in Ohio, will join Citizens Business Bank in late April.

The move is the latest by the Swiss bank following $4.7 billion of losses in the Archegos debacle; bitcoin ETFs move forward, but HSBC bans trading in firm linked to digital currencies.

As more states legalize online gambling, the credit union is preventing members from using their credit and debit cards on those sites. Others could follow its lead.

The Wisconsin company is paying $248 million for Mackinac, which has $1.5 billion of assets and $1.3 billion of deposits.

The Louisiana credit union holds just $3.5 million of assets and could not find a successor for its retiring chief executive.

Thomas Gottstein’s one-year tenure has been marked by multiple costly scandals; the company’s valuation and profitability have jumped as bitcoin’s price has surged, but are those levels sustainable?

Banking trade groups have called for congressional hearings following the Jacksonville, Fla.-based credit union's agreement to purchase the $1.6 billion-asset Heritage Southeast Bank, the largest deal of its kind to date.

Ann Dubie stepped down from the Joliet, Ill.-based credit union in March after 20 years at the helm.

Bank of America, which has had an environmental business goal since 2007, is significantly increasing its current commitment.

The Baltimore community bank is experimenting with fee-based checking accounts that bundle cellphone protection, roadside assistance and other perks with an app that makes such services easier to use. Early returns are promising.