Banking

The retiring head of the National Association of State Credit Union Supervisors spent years working to rein in a contentious funding mechanism used by the National Credit Union Administration that drew money from the Share Insurance Fund.

Just as small and midsize businesses had to adapt to survive the coronavirus emergency, lenders need to adopt new underwriting practices and technologies that modernize how they evaluate borrowers' creditworthiness.

The deal for the Salt Lake City-based home improvement lender, which Home Depot tried to acquire more than a decade ago, is part of a larger effort by Regions Financial to diversify its home lending business.

The San Francisco company has promoted or hired several bankers to steer growth in retail and commercial banking operations just months after completing its purchase of Radius.

Dave, a banking startup that’s been backed by investors including Mark Cuban and Capital One Financial, agreed to go public in a deal with a blank-check firm that values the company at $4 billion.

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.