Banking

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

The $11.6 billion deal is one of the biggest bank deals since the 2008 crisis; card lender profits at risk as people cut spending and repay balances, which is boosting returns on card-backed bonds.

The pandemic has altered a variety of consumer behaviors, and that could make a difference in what sort of interchange and interest revenue financial institutions see in their credit and debit portfolios as they close out 2020.

Financial institutions like Ally Financial, Clinton Savings Bank and First National Bank of Omaha are recruiting personal finance experts, college students and local personalities to promote their products and services.

Savings to the credit union regulator's operating budget are largely the result of surplus funds from 2020 and expected reductions in travel into next year.

The Federal Housing Administration said in its annual actuarial report that the capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier.

Members of $5.3 million-asset WJC Federal Credit Union will vote to merge into $3.2 billion-asset Truliant FCU, based in North Carolina.

The forthcoming measure could override staff opinions that helped certain deposit-gathering companies partner with banks.

Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed fraud.

Consumer savings are up, yet so are evictions. Banks need to reach out more to those who are struggling financially, and they could use data as a guide.

Kathie Kasper spent 24 years at the Livermore, Calif.-based institution, having started as a teller in 1976 and ultimately rising to the level of chief executive.

A procedural move by Mitch McConnell sets up a full Senate vote as early as next week; the class is the smallest in two decades, and white men make up the smallest percentage ever.

The fintech startup, which originally helped users cancel duplicate subscriptions, now wants to encourage healthier financial practices.

Lending opportunities have become scarce, especially with commercial borrowers, and banks are resisting the temptation to relax standards to boost volume.

The cross-border e-commerce market is set to pass the $1 trillion mark in 2020, providing a huge addressable market for Afterpay's buy now, pay later expansion.

The deal, intended to bolster CUNA Mutual's digital capabilities, is the company's second such move in a month.

The growing number of defaults is raising concerns that banks will tighten credit, making a bad situation worse; most of the 500 members are academics and Obama White House staffers.

Big financial institutions are worried that online wagers made with credit cards pose a heavy risk of money laundering. The possibility of tougher rules under the incoming Biden administration has only compounded their concerns.