Banking

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.

Bill Bynum, president and CEO of Hope Federal Credit Union, and Gail Laster, former director of the National Credit Union Administration's consumer protection division, are working with the incoming administration.

The Toronto parent of BMO Harris Bank has joined a growing list of banks directing billions of dollars toward affordable housing and loans to low- and moderate-income communities.

In a bid to fuel online sales, Barclaycard is partnering with Amazon in Germany to offer installment lending to overcome the country’s low credit card ownership rates.

Scammers may have had more success at duping fintechs than banks in obtaining Paycheck Protection Program loans. But there are reasons for this apparent disparity.

The group includes many advocates for stricter bank regulation from the Obama administration; the president-elect may have as many as three open seats on the central bank or as few as none.

With many Americans and members of Congress questioning the results of the presidential election, financial services trade associations quickly vowed to work with the incoming administration.

The two companies first started collaborating last year, but now BBVA has white-labeled Prosper’s technology on its own website.