Banking

Data from the National Credit Union Administration shows that despite a dip during the second quarter, the rate of industry consolidation has not changed dramatically from last year, despite the pandemic.

The company said migration to digital channels spurred its decision to shutter locations across five states.

Why PayPal just deposited $50 million in tiny Optus Bank; ex-Bank of America employees allege 'extreme pressure' to sell credit cards; the Citi snafu may bring fresh scrutiny to custodial banks; and more from this week's most-read stories.

Some customers have complained of limits being slashed by one-third to two-thirds, eroding their ability to borrow in an emergency during a pandemic or potentially hurting their credit scores.

All parts of the payments industry can preserve cash, but mandates may be necessary, says Moorwand's Luc Geuriane.

Some customers have complained of limits being slashed by one-third to two-thirds, eroding their ability to borrow in an emergency during a pandemic or potentially hurting their credit scores.

The company will use Savoy's midtown Manhattan office to coordinate business development efforts around the city.

The move to largely ignore inflation overshoots is likely to mean low interest rates for years to come; Citi, JPMorgan Chase and Morgan Stanley are underwriting the big Hong Kong portion.

Refinancing has been one of the bright spots in a difficult year for lending, and the industry has concerns that a fee to be imposed by Fannie Mae and Freddie Mac could slow down the business.

Branches in the Gulf Coast region largely avoided massive flooding. Now bankers must assess the impact on employees and customers.

New analysis from S&P found that only two of the of the top 20 credit unions that participated in the Paycheck Protection Program loans had assets of less than $1 billion.

A historic charter award defines a new beginning for digital banking, Varo Money becomes the first consumer fintech in US history to gain full regulatory approval to become a national bank

The combined Broadway Federal and City First Bank will have more than $1 billion in assets; the country's cyber capabilities have become "dangerously sophisticated."

Institutions serving colleges and universities traditionally see membership surge in the fall, but are now planning for a decline as classes move online.

Several months after the pandemic took hold, Diebold Nixdorf and NCR have adopted an ATM recovery strategy that stresses contactless access as well as innovations that are similar to other industries that traditionally rely on kiosks.

With the USPS emerging as an election-year flashpoint, postal banking is an idea that could gain steam. But a number of proposals are out there, and they have wildly varying implications for financial inclusion.

The Minneapolis company’s partnership with the Black Business Investment Fund and other community development financial institutions is an example of how banks can fulfill multimillion-dollar pledges aimed at closing the racial wealth gap.

The agencies completed steps to ease a community bank capital measure temporarily and to delay a new credit-loss accounting standard.

Florida and West Virginia recently joined four other states in setting up regulatory sandboxes that allow startups to test products with consumers without obtaining a license.