Banking

There will be lasting consequences for financial institutions that choose short-term protections for their bottom line over the economic security of the consumers they serve.

Canadian consumers are changing their banking habits to reduce physical contact with others because of COVID-19, according to a new study by McKinsey & Co.

A Bloomberg News analysis shows that the data for Paycheck Protection Program loans totaling more than $521 billion released on July 6 are riddled with anomalies.

Wells is expected to report a loss while other banks report sharp declines in profits; Fed officials wanted easier terms, while Treasury officials preferred a more conservative approach.

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

Suppliers that still need to receive physical checks should still be able to do so. Even if they do, the process remains electronic on the accounts payable side, says AP side so that customers can issue check payments in the same batch as other electronic payments, says Nvoicepay's Angela Anastasakis.

The pressure is on for banks to help Black and Hispanic households build net worth. Many say that starts with diversifying the ranks of middle and upper management.

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

The panel later this month will vote on the nomination of Judy Shelton, whose views on certain policy issues have met with skepticism from both Democrats and Republicans.

After tech firms assisted community bankers in processing applications in the Paycheck Protection Program, small-business lenders are continuing to engage with cloud providers and other outside companies to automate the loan forgiveness process.

Center Parc Credit Union, which will operate as a unit of Atlanta Postal, is set to open a pair of Walmart branches this year and a free-standing facility in 2021.

Citizens Bancorp Investment has agreed to buy American Bancshares in a deal expected to close later this year.

A subprime-related settlement between the government and Deutsche Bank provided meaningful benefits to some U.S. consumers in need, according to a new report. But the author acknowledged that those gains could prove illusory for some consumers given the coronavirus crisis.

Nationwide lockdowns forced banks to close brick and mortar outlets and rely heavily on drive up windows, mobile and online access. BBVA has proven that even in the middle of crisis and chaos, retail still fits into the banks overall strategy.

Nationwide lockdowns forced banks to close brick and mortar outlets and rely heavily on drive up windows, mobile and online access. BBVA has proven that even in the middle of crisis and chaos, retail still fits into the banks overall strategy.

BNCCORP named an interim CEO as it looks for a permanent successor for Timothy Franz.

The bank is expected to report a small net profit for the second quarter next week; shareholders are challenging the government's 2012 decision to appropriate nearly all of the agencies' profits.

The National Credit Union Administration's first-quarter look at credit union performance by state includes several metrics where the industry did not fare well.

Jay Hendricks, the company's chief operating officer, will succeed William Foster in August.

Several big bank mergers fell apart after the coronavirus hit. But Bryan Jordan, First Horizon's CEO, said the pandemic validated plans to cut costs and invest more in digital upgrades.