Branch banking

The accelerating pace of branch closures is partly due to industry consolidation, according to the community reinvestment group that authored the new report.

The events of this year transformed banking, for better or worse. Smart bankers will build on the ways they learned to do their jobs better.

The Pittsburgh company also sold a portfolio of indirect auto loans and repaid a large amount of Federal Home Loan Bank borrowings.

The Waterbury, Conn., parent company of Webster Bank joins a fast-expanding list of banks reducing the size of their branch networks to save money and focus on digital capabilities.

The company is looking to shutter 10 of its 63 branches over coming months, reflecting a shift in customer preferences.

Cryptocurrency is cooking with a fall rally and lots of attention from recognizable companies like Square and PayPal. For Daniel Polotsky, any good news for bitcoin is welcome.

First Horizon, TCF and Webster are among the banks eyeing efficiency initiatives that could include more branch closings, layoffs and reduction of office space. Expect others to follow suit as low rates and tepid loan demand tied to the pandemic pressure revenue.

ATM technology provider Payment Alliance International is partnering with B4U Financial to enable users of any cryptocurrency wallets to redeem bitcoin for cash at the ATMs.

Moscow-based JSC Post Bank has established a merchant acquiring agreement with JCB International to allow JCB cardholders to withdraw cash from all of the bank's ATMs and make payments at Post Bank point-of-sale terminals in Russia.