Banking

The regulator issued a prohibition order to Joseph Guagliardo, who admitted to taking more than $400,000 from the New York City-based institution over the course of nearly a decade.

Members of two smaller institutions will soon vote on whether to join South Carolina-based REV, boosting its assets by 15% and giving it a foothold in North Carolina.

The bank, formed in 2019 when investors bought and recapitalized Sound Bank, will use the funds to hire lenders and improve its overall infrastructure.

The California company said the issue involves a line of credit it funded earlier this year and that it is working with law enforcement authorities on the matter.

Geneviève Piché, who has worked in investment banking at the company for 20 years, will be in charge of helping corporate clients make environmentally and socially responsible investments.

Thasunda Brown Duckett is one of Wall Street’s most prominent Black executives; the central bank blamed Wednesday’s shutdown of its payments systems on a maintenance mistake.

The ongoing national conversation about race and social justice has increased calls for boards of directors that better reflect credit union membership. But any real change won't happen quickly.

With mobile payments and banking apps on the rise, biometric authentication is now increasingly common in consumer finance, says Fingerprints' Michel Roig.

Soybean, corn and wheat are trading at their highest levels since 2014, meaning farmers are more likely to catch up on loan payments and pursue expansions that require them to take out more loans.

Toronto-Dominion Bank said it will close 82 bank branches in the U.S. as part of a “store optimization” in its American unit, where net income dropped in the fiscal first quarter.

Shared national credit balances rose 5% last year, and the percentage of at-risk loans nearly doubled. Regulators point out that banks have stashed away extra capital, but a lot will depend on the speed of the economic recovery and the performance of nonbank loans.

Dana DeFilippis will take the helm at the Chalfont, Pa.-based credit union next month. She succeeds retiring CEO David Whitehead.

The CEO of Chase Consumer Banking and a member of JPMorgan’s leadership team, Thasunda Brown Duckett has been tapped to replace Roger Ferguson as CEO of the retirement services provider.

A new report from CUNA Mutual Group shows just how much COVID-19 and the economic slowdown impacted the credit union industry in 2020.

JPMorgan Chase is shutting its private banking business in Mexico, according to people with knowledge of the matter, as wealthy clients in some of Latin America’s largest economies move their money to international financial capitals.

The cause of the disruption is unknown, although the Treasury said it wasn’t a cyberattack; applications fell 11% after the average 30-year fixed-rate loan rose to 2.81%.

As the Consumer Financial Protection Bureau slowed its pursuit of bad actors, state attorneys general vowed to pick up the slack. Here’s why they fell short — and why they are poised to get aggressive again.

The founder of Commerce Bank in New Jersey and Metro Bank in the United Kingdom has served as Republic First's chairman since 2016.

Several large and midsize banks are investing millions of dollars in Black-run banks, while four community banks have started a fund to make interest-free commercial loans in underserved communities.

As self-service banking offerings continue to gain ground, financial firms must evolve their brick-and-mortar facilities in order to better serve consumers.