Banking

The company, poised to complete its purchase of Radius Bank, will enjoy new cross-selling opportunities, gain additional sources of fee income and capital as well as benefit from greater regulatory clarity, CEO Scott Sanborn says.

Hundreds of branches temporarily shuttered during the pandemic are now permanently closed.

The agency used a notation vote to advance the final measure, the third time it has used that method in a month.

The credit union announced a $1 million commitment to the New Jersey Education Association spread over 10 years, with the first installment helping expand the group’s Human and Civil Rights Division.

Lenders are expecting strong demand for the small business loans, especially for second-timers; a steeper yield curve is helping profits, but stronger loan growth would help even more.

After a slowdown in 2020, inventory shortages and other factors could make the months ahead a grind for many lenders.

Smaller institutions are relying on an issuing system that gives away control over card programs, says Corserv's David Luther.

After withdrawing two previous bids, the e-commerce company submitted an application to the FDIC outlining a significantly simpler business model for a proposed industrial loan company.

The state's Department of Financial Protection and Innovation alleged potential violations of “unlawful, unfair, deceptive or abusive” practices by a dozen companies.

Its Marcus unit continues to invest in new products and business lines, delaying its path to profitability, according to Goldman Sachs CEO David Solomon.

Payments activity “snapped back” in the fourth quarter and should lift revenue the next few quarters, CEO Brian Moynihan said.

The trade group's summer show was expected to be the first major credit union event not to be held exclusively in a virtual format but was cancelled due to the ongoing pandemic.

The Dallas bank says reserves could return to pre-pandemic levels by the end of 2021— a year earlier than analysts were predicting — if vaccines prove effective at slowing the spread of the coronavirus.

Chris Hendry has been appointed president and CEO of the Fitchburg, Mass.-based institution, having served the credit union in a volunteer capacity since 2014.

President-elect Joe Biden is scheduled to take the oath of office on Wednesday, but other changes that pertain to credit unions are also happening.

Year to date through Sep. 30, 2020. Dollars in thousands.

Todder Moning and Valerie Lancelle, who work in the bank’s innovation group, said they were especially impressed by demos of immersive technology, 5G and ambient computing.

Cosby Davis joins the executive team at North Carolina's third-largest credit union after nearly a decade at nearby Allegacy Federal Credit Union.

The Obama-era official is expected to reverse the relaxed regulatory stances at the CFPB; the ratings firm is teaming with a French AI startup to try to detect misbehavior early.

Payment companies in the near future will need to address the impacts of industry consolidation, pricing pressures, regulation, card-based technology solutions and spotting the proper niche, says Moneycorp Americas' Bob Dowd.