Banking

The big Japanese investor is buying $500 million of the mortgage lender’s stock; Revolut will allow each of its 2,000 employees to work abroad for up to two months a year.

The Silicon Valley payments giant collaborates with incumbent banks. But its plan to launch a single mobile app where consumers will shop, make payments and manage their money is reinforcing long-held industry fears about the threat from Big Tech.

The New York institution is believed to be the first credit union to open its doors to the general public as part of the mass vaccination effort.

With its deal for Century Bancorp, Eastern will significantly boost its deposit share in greater Boston while gaining an entrée into several new business lines, including cannabis banking.

The Chicago fintech, which currently offers personal loans and credit cards, will add deposit accounts with the acquisition of Level.

The Mexican unit of the fintech Nubank, the world’s biggest standalone digital bank, is getting a $135 million injection to propel its nascent operations in Latin America’s second-largest economy.

The joint checking account is similar to its individual checking feature, launched last April, and will target millennial couples in particular.

Michigan State University Federal Credit Union has doubled in size since 2015, thanks in part to expanding its branch network and field of membership.

State-level groups are pushing measures intended to improve the operating environment for the industry, such as increasing flexibility with field of membership, and providing parity with banks and federally chartered institutions.

U.S. consumer borrowing surged in February by the most since late 2017 as a broader reopening of the economy from pandemic restrictions helped spark an increase in credit card balances.

Loanpal, a provider of residential-solar loans in the U.S., is planning an initial public offering this year that could value the company at more than $10 billion, according to people with knowledge of the matter.

Dimon says “nearly all” of the bank’s 250,000 employees will return after the pandemic; Instacart has chosen Chase to issue its card, while DoorDash has received offers from 10 banks.

The announcement comes about six months after Boston-based Eastern raised $1.7 billion through an initial public offering.

The consumer bureau is proposing to give companies until January 2022 to comply with one rule regarding communications from collectors and another clarifying disclosure requirements.

Variables unique to the past year, such as the effect of government stimulus, are not fully considered in typical credit scores. For a more complete picture, the industry should accelerate a digital transformation in scoring models.

JAM FINTOP Banktech will fund startups that offer services designed for the banking industry. All 66 limited partners are banks.

In his annual letter shareholders, JPMorgan Chase CEO Jamie Dimon said banks are facing "enormous competitive threats — from virtually every angle."

The Crypto Council for Innovation wants a voice in how bitcoin is regulated; the #GetBanked public awareness campaign aims to help people without accounts get stimulus checks faster.

The Boston company has acquired three insurance agencies since becoming fully stock-owned in October 2020.