Banking

Brian Milton, who ran MUFG Union's digital bank, was named head of banking and would become CEO of Thrivent Bank, which plans to have a digitally focused platform and operate as an industrial loan company.

Banks have begun inserting new language into loan deals that would require investors to return accidental payments like the one Citigroup made to Revlon's lenders last year.

Rodney Hood, a board member and former chairman for the credit union regulator, was selected to fill a seat previously held by Todd Harper, who was recently appointed NCUA chairman.

CFPB nominee says he will focus on inaccurate credit reports and borrowers behind on housing payments; the bank is reopening its trading desk as cryptocurrencies gain wider acceptance.

In remarks at CUNA’s online Governmental Affairs Conference, the chairman of the National Credit Union Administration called for the creation of new initiatives around compliance for fair credit reporting and truth in lending.

Challenger banks and fintechs can't be considered rivals, says Episode Six's John Mitchell.

The industry will have to contend with thin margins on either side of the aisle in Congress and new priorities from regulators, experts said in a panel discussion held as part of CUNA's online Governmental Affairs Conference.

The overwhelming success of Square’s bitcoin trading service creates new opportunities for its bank to work with underserved markets.

The overwhelming success of Square’s bitcoin trading service creates new opportunities for its bank to work with underserved markets.

The new directors are Ime Archibong, whose team builds and tests mobile apps at Facebook, and Craig Williams, president of the Nike product line named after former NBA superstar Michael Jordan.

The industry has a key role to play as policymakers push to expand access to affordable financial services for all Americans.

Bipartisan legislation introduced Monday would permit loans made as part of the COVID-19 relief effort not to count against limits on member business lending.

After hiring two Goldman executives, the retailer could be looking to partner with more banks or become one; the buy now-pay later company is now worth $31 billion and seeking acquisitions.

The payment processing company will offer loans and deposit accounts to its small-business customers through a Utah-based industrial bank.

The bank’s new holding company, Amalgamated Financial Group, is the first publicly traded financial services company to become a public benefit corporation. It says the legal designation will help officers and directors balance the interests of shareholders and the public.

The pandemic is likely to dominate the discussion during CUNA’s online Governmental Affairs Conference, but perennial issues such as the industry’s tax exemption will also be spotlighted.

Four former employees and several clients of Washington Federal Bank for Savings face charges of falsifying records to conceal the embezzlement of $31 million prior to the bank's December 2017 collapse.

Turnaround times on loans in the 504 program are stretching out for weeks as the Small Business Administration grapples with a spike in applications and responsibilities tied to the Paycheck Protection Program.

The Pensacola, Fla.-based credit union's newest chief executive has helmed two other CUs over the course of more than two decades in the industry.

On Dec. 31, 2020. Dollars in thousands.