Faster payments would help the economy in general and individuals and small businesses in particular. It's time for banks to step up.

The Los Angeles company, set Thursday to complete a merger with a special-purpose acquisition company and raise more than $3 billion in a stock offering, plans to develop new banking and cryptocurrency-related services this year, CEO Jason Wilk says.

Banks and credit unions that cater to members of the armed forces are partnering with fintechs or patenting their own tools to help users convert currency, borrow money and handle financial matters in environments with unreliable internet service.

The last three months of 2021 were strong for most lenders, which will report results soon. But the outlook for the coming months has been clouded by the spread of the newest coronavirus variant, which has many banks grappling with staffing shortages and branch restrictions.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

Banks and credit unions need to do more for (and assume less about) customers who are over 50, says Theo Lau, founder of the advisory firm Unconventional Ventures.

The new business line is part of a broader expansion plan the Pennsylvania bank announced in 2021.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

First Premier Bank in South Dakota revamped its online sign-up process to allow customers to name the banker who referred them. This helps bankers overcome their reluctance about digital accounts and lets them start relationships with new customers.

The bank, which donated a total of $1.6 million in 2020 and 2021, endowed the new organization with $4 million.

Spain’s biggest lender accidentally made a second payment to about 75,000 people and firms who had been due payments from businesses with accounts at its U.K. unit.

The community bank leverage ratio is set to revert to its prepandemic level of 9% on Jan. 1. Bankers say the move is premature and are supporting a bill that would keep the ratio at or below 8.5% through 2024.

Many previously unbanked consumers are flocking to the banks that provide accounts with no overdraft or debit card fees and minimum opening balances of $25, according to a new report from the St. Louis Fed.

The community bank said it would will not renew their employment contracts, which terminate March 20, but that it intends to keep them as executives.

The lender will start by cross-selling Digit's products, then gradually consolidate the two companies' platforms. Meanwhile, Oportun is working to put questions about its collections practices behind it.

To strengthen ties with entrepreneurs, Citizens Bank of Edmond in Oklahoma and the de novo Genesis Bank in California offer co-working, education and other resources.

Banks that help customers avoid missing important payments are providing a valuable service for which they should be compensated. Though some banks use deceptive practices, customers are willing to pay for a transparent service.

The buyer, Union Bank of the Philippines, will pay about $904 million for Citi's local credit card, unsecured lending, deposit, brokerage and investment businesses.

These executives are adapting to changing customer demands amid rebounding M&A and coronavirus-related challenges.