Banking

Over half of all credit unions with less than $250 million of assets are run by women, but those institutions continue to be merged out of existence. A group of 13 women who lead such organizations have banded together in an effort to ensure their survival.

It's no longer a matter of if, but when, regulators will require banks to document the impact of global warming on their loan portfolios and other operations.

As competition becomes more about countering fintechs than beating other banks, alternative payment methods and broader services will be key, says Icon Solutions' Simon Wilson.

The deal will see the $16 million-asset Georgetown FCU join the $258 million-asset PAHO/WHO. The combined institution will serve more than 7,500 members.

Revlon lenders that received more than half a billion dollars in accidental payments from Citigroup are asking a judge to free up the money he’s already ruled is theirs to keep.

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.