Banking

John Zmolek has been involved with the Seattle-based institution for more than three decades. A successor has not yet been named.

Yellen says the tests probably won’t lead to imposing capital requirements or limit dividends; the big banks want a global convergence in financial standards to do business in other countries.

It would ignore technical glitches plaguing the entire Paycheck Protection Program and could end up delaying loans to larger borrowers who also need relief, bank executives and their trade groups say.

Some in the industry are beefing up online educational offerings and enlisting social media ambassadors on college campuses to help recruit younger consumers.

Treasury Secretary Janet Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.

From delivering water door to door to turning offices into shelters, bankers in the state have adapted their hurricane-response plans to offer customers and employees relief from the past week's snow emergency and power outages.

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

Year to date through Dec. 31, 2020. Dollars in thousands.

The sale has revived a long-running feud between former chairmen Mark McWatters and Rodney Hood, who tweeted, "Credit unions deserve better stewardship of agency resources.”

Wherever they are, customers should be able to access their application and resume the process at a later time, says FICO's Therese Henry.

Only businesses with 20 or fewer employees will be eligible to apply for forgivable loans from the Small Business Administration's Paycheck Protection Program.

M&T Bank in Buffalo has a deal for Bridgeport, Conn.-based People’s United for more than $7 billion; more people are buying homes sight unseen online as interest rates start to climb.

The company is mulling the sale of certain retail operations the Asia-Pacific region as part of incoming CEO Jane Fraser's plan to streamline operations, according to people familiar with the matter.

MoneyLion and Opportunity Financial are following in the footsteps of financial technology businesses that have raised billions of dollars from special purpose acquisition companies. The quick injection of funds is expected to accelerate their growth as well as make them more competitive with banks and other mainstream financial services firms.

The Small Business Administration wants to vet Paycheck Protection Program loans of $2 million or more, but lenders have grown tired of waiting for months with no updates.

A severe cold snap in the state has tested financial institutions unaccustomed to such weather-related disruption.

The uncertainty and changeable environment requires lots of options, says Ivalua's Arnaud Malarde.

Joseph Lajoie has succeeded Pamela Mello, who stepped down last month after more than five years in charge.