Banking

On Mar. 31, 2020. Dollars in thousands.

ViZ Bank would eventually have branches across several major U.S. cities, including Dallas, Denver and Atlanta. It would also offer a program to help former inmates build savings and establish credit.

Crypto provides a new tool for underbanked consumers, says DigitalMint's Marc Grens.

The company sold major stakes in Wells, JPMorgan, Goldman and others but increased its BofA holding; Shundrawn Thomas says the asset management business needs more Black and Latino representation at the top.

This isn’t the first time the industry has faced an influx of funds amid a slowdown in lending, but this instance could prove harder to manage than in the past.

The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.

Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.

A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's finances.

The Canadian bank is doing something few U.S. institutions have done: build an online hub with tutorials designed expressly to simplify the online banking process for newcomers.

The Massachusetts company, which converted from a credit union to a bank in 2013, is laying off more than 40 employees with a focus on people working in its retail banking operations.

The Pennsylvania company recruited John Montgomery from First Bank in St. Louis to take the helm on Aug. 31.

The 50-basis-point charge drew an immediate backlash from mortgage lenders; Mike Roemer is leaving after two years on the job and will be replaced by Paula Dominick of Credit Suisse Americas.

Ulule is working with Bank of the West to build name recognition. It hopes to collaborate with other banks and credit unions as it vies with larger companies such as Kickstarter and GoFundMe.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

The industry will have to grapple with pressure on net interest margins, interchange income and credit quality, said CUNA Mutual's Steve Rick during a virtual conference.

NuMark and NorthStar Credit Unions plan to join forces later this year, with NuMark CEO Ann Dubie retiring once the deal has been completed.

The Massachusetts company is laying off more than 40 employees with a focus on people working in its retail banking operations.

Covered Care is promising to offer affordable loans to borrowers with credit scores below 700.

The proposed combination would create a bank with $3 billion in assets in central Virginia.

The card account, which has about $3 billion in outstandings, has about a year to run with Capital One; Boston Fed chief says recent virus outbreaks threaten economic rebound.