Banking

Banks are augmenting their use of masks, distance markers and the like with apps to notify employees of exposure to infected individuals and technology meant to make branch visits safer.

The $282 million-asset institution's new name is intended to build on its work with underserved communities around St. Louis.

The agency’s insurance fund dipped below its statutory minimum last quarter thanks to the rapid rise in deposits, but officials say it should bounce back without a hike in premiums.

“What COVID has done for us is it has showed us where to prioritize investments,” William Demchak said at an industry conference in discussing the Pittsburgh company's plans to speed up the shift to digital banking.

The Credit Union Cherry Blossom Run, the industry's biggest annual philanthropic event, saw a nearly 10% increase in giving this year despite being canceled.

Klarna AB, a Swedish payment provider for online shoppers, is still setting its sights on an initial public offering even after its latest funding round left it roughly twice as valuable as it was a year ago.

A public rebuke on the bank’s risk management may have expedited Corbat’s retirement; a deal would create a Swiss champion in wealth management and investment banking.

Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans' retaining control of the chamber would be defending against the disruption of a Democratic blue wave.

The company joins a growing list of banks shuttering locations as customers flock to digital channels.

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations.

The bureau will detail how it will implement a Dodd-Frank Act provision requiring the agency to collect information on small-business lending in order to identify discrimination.

The performance of about $3 billion in hotel and other loans flagged by the Dallas company as high-risk has been a "a pleasant surprise," its chief credit officer said at an industry conference.

BofA, which has applied for or been granted thousands of patents, has been working recently on technologies that analyze spending patterns to give budgeting advice and use augmented reality to provide estate-planning services.

On Jun. 30, 2020. Dollars in thousands.

On Jun. 30, 2020. Dollars in thousands.

It's unlikely that lawmakers will pass new coronavirus-related legislation before Congress leaves for its October recess.

Banking now outpaces many other industries in having women in senior management roles; should banks and their investors be worried if the Democrats take control of Washington?

Federal credit unions still account for more than 60% of active institutions, but their share of total assets continues to shrink.

Alternative payment methods such as bank transfers, e-wallets, cash-based payments and other payment types are currently the vast majority of e-commerce transactions globally, says PPRO's James Booth.