Corporate finance

Fees from forgiven Paycheck Protection Program loans are providing a short-term lift, but balance sheets are shrinking and it isn't clear what will drive future growth.

A new report from the regulator shows slower growth in membership and lending, as well as a decline in the number of credit unions reporting profits.

A new study from Black Kite outlines a variety of threats facing the industry and pinpoints the average cost of a breach at large and small institutions alike.

The Indiana company said the move reflects a need to cut costs and customers' increased preference for digital channels.

The Honolulu company said the "non-public, fact-finding inquiry" by the Securities and Exchange Commission focuses on its calculations for earnings per share.

Many in Washington have been in suspense about whether the Biden administration would favor a former Obama official or a financial inclusion advocate for comptroller of the currency. Mehrsa Baradaran, the candidate preferred by community activist groups, appears to have the edge.

Ten companies this week joined the American Fintech Council, which debuted March 3 after the Marketplace Lending Association and Online Lending Policy Institute combined.

HoldCo Asset Management, which gains two board seats from a standstill agreement, had expressed disappointment that the Boston company hired a CEO instead of pursuing a sale.

Lending slowed, credit allowances mounted and return on assets as well as other performance ratios weakened, according to year-end figures from the credit union regulator.

A big funding source for the Paycheck Protection Program is set to expire on March 31. Its demise would pinch nonbanks that are originating and buying loans, especially if Congress continues the PPP beyond this month.

As the Federal Reserve continues to explore issuing a digital U.S. dollar, the Biden administration and key congressional leaders are endorsing the idea as a way to expand banking access for underserved consumers.

Citigroup restated fourth-quarter results after writing down a portion of a loan to Revlon it now owns after losing a court battle.

Bank of America will book a $400 million expense in the first quarter to account for a change in bonus policies that sparked anger among high earners.

The California company said the issue involves a line of credit it funded earlier this year and that it is working with law enforcement authorities on the matter.

The fintech that gave life to the mobile point of sale market is seeing that business overshadowed by the ever-rising popularity of cryptocurrency.

The fintech that gave life to the mobile point of sale market is seeing that business overshadowed by the ever-rising popularity of cryptocurrency.

Banks lowered their loss provisions at the end of 2020, a sign they feel better about this year than last year, according to data from the FDIC. But loan balances fell for the second straight quarter and the annual loan growth rate was the lowest in seven years.

Prepaid customers’ COVID relief spending boosted the bank’s bottom line in 2020, but executives don't count on a repeat performance.

Prepaid customers’ COVID relief spending boosted the bank’s bottom line in 2020, but executives don't count on a repeat performance.

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.