Banking

The credit union regulator's November board meeting covered a variety of issues, including the voluntary self-assessment, disagreements on the budget proposal and the possibility of new insurance premiums in 2021.

The league has altered its formula for calculating member dues, a move expected to save credit unions nearly $800,000 next year.

Companies like Affirm and Klarna have been a beacon for investors, leading to at least one multibillion-dollar planned IPO in support of a point-of-purchase lending model that could set the stage for use cases well beyond credit.

The company's new relationship with Billshark highlights its quest for partners that can deliver financial management products to complement its banking services.

Just a few months after signaling that provisions for loan losses had peaked, many banks are planning to once again add to reserves to guard against pandemic-related defaults, according to a survey released by IntraFi Network.

Richard Yeager's promotion comes at a time of growth for the New York-based institution, including having recently been granted a field-of-membership expansion.

American Challenger Bank would offer consumer and commercial products using technology from Temenos. Organizers recently applied with the FDIC for deposit insurance.

The Ohio company will benefit after settling unpaid judgments tied to nonperforming loans at a bank it bought before the last financial crisis.

Community development financial institutions, which tend to be less digitally savvy than traditional banks and credit unions, are developing online-lending platforms and automating backroom processes with investments and technical assistance from big banks, high-tech firms and other sources.

The two mortgage companies would need capital of $283 billion to absorb losses before going public, its regulator says; the 50% rise in just 30 days has some worried about another crash.

The complaint charges the fintech startup with misleading customers about the interest they'd receive on deposits and the level of access to their money. It seeks an unspecified amount of consumer relief in addition to other remedies.

The startup, created in partnership with conversational AI platform LivePerson, will encourage users to send sums of money to strangers.

The latest report from the American Customer Satisfaction Index reported lower scores for both industries, with credit unions recording their lowest ranking since 2011.

The two companies have worked together to provide a banking app that community banks can implement and deploy in 30 days.

Cameron Minges will become president of the Indianapolis-based credit union effective Jan. 1.

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.

A recent survey by the American Bankers Association found that mobile apps surpassed online banking as the go-to platform for consumers earlier this year, and its popularity has continued to rise since the onset of the pandemic.

The name change, which will take effect Jan. 1, comes following the merger of CP Financial and Washtenaw Federal Credit Union.

While most payment firms consider checking a time-consuming expensive relic for business transactions, one San Francisco-based fintech is going the opposite direction by adding checks to its digital platform.

Republicans fail to muster enough votes but Mitch McConnell left open the door for another try; card balances drop again in third quarter but mortgages and auto loan outstandings rise.