Banking

The announcement marks one of the credit union community's largest funding efforts toward diversity and inclusion initiatives.

Donald Felix will join the Rhode Island company in January as head of national banking. He recently was responsible for developing a personal finance management strategy for JPMorgan Chase’s consumer bank.

The subprime lender cited low odds that Washington will deliver further economic relief, and the fact that $1.5 billion of loans whose deferral period expired are now more than 30 days behind.

Small businesses need a new round of loans and aid from the government to keep employees working as the pandemic continues to spread, SBA Administrator Jovita Carranza said.

Democracy Federal Credit Union is the latest to move ahead with plans to shut down on Nov. 3 so employees can get to the polls.

Even as consumers shift more spending away from cash and the market for personal travel picks up, the coronavirus pandemic is still exerting a heavy toll on Mastercard's consumer and corporate spending.

The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken.

The Mississippi company said Duane Dewey, the president of its bank, will succeed Gerard Host as CEO in January.

The 50 biggest banks are financing industries that contribute most to the loss of the world’s species, according to a consortium of environmental experts and advocates.

The Justice Department may try to block the deal for antitrust reasons; some banks feel they have to start foreclosures soon before the properties lose even more value.

The industry called for modifications to the regulator's phase-in proposal on the new credit loss standard while acknowledging the broader changes it wants are up to the Financial Accounting Standards Board.

Rick Wardlaw at Bank Independent in Alabama gets results by adhering to the servant-leadership model.

The agency found a 40% error rate in the 2016 data submitted by the Seattle bank. In addition to the fine, the institution is required to improve its compliance systems.

A 2019 decision by Amy Coney Barrett, then a 7th Circuit judge, cited an earlier Supreme Court ruling suggesting a high bar for plaintiffs to claim harm. But other jurists have favored a less onerous standard.

Craig Dahl said working seven-day weeks to shepherd the integration with Chemical and then the combined company’s coronavirus response led to his abrupt retirement.

Europe's largest lender could start charging for basic banking services "in some markets" because low interest rates meant they were losing money, Chief Financial Officer Ewen Stevenson said on a call with reporters Tuesday after the bank reported third-quarter earnings.

The global bank has rolled out cash-flow forecasting tools as financial institutions race to meet urgent demands from commercial customers trying to navigate uncertain times.

The acquisition will consolidate United's position in the St. Joseph market, where both institutions are based.

The offering values the Chinese fintech at $313 billion, more than some of the U.S.’s biggest banks; the issuer and the bank would be penalized if they fail to live up to their green promises.

With coronavirus cases on the rise, Hoosier Hills CU in Bedford, Ind., has chosen to temporarily restrict access to its facilities. Observers say other institutions are likely to follow suit eventually, whether they want to or not.