Corporate finance

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

With the SEC probing Ripple, MoneyGram sidelines its partner to nurture online operations, which hit a milestone by surpassing in-store Walmart remittances in December.

Net income and loan volumes at the Michigan-based credit union were both down in 2020 but noninterest income shot up 41% thanks in part to participation in the Paycheck Protection Program.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

Harris Simmons of Zions Bancorp. warned that excess deposits could suppress loan demand and pose an inflation threat, while Darren King of M&T tried to reassure investors that deposits will be less volatile than some fear once the economy improves.

The tech giant says it will benefit heavily from its 2019 purchase of Worldpay as it seeks to provide digital payment services to merchants.

The arrangement, which focuses on merchant services, comes about six months after Global Payments secured a similar partnership with Amazon Web Services on the issuer side of its business.

Its success was driven by its support for buying and selling cryptocurrencies and its entry into the buy now/pay later market.

Its success was driven by its support for buying and selling cryptocurrencies, and its entry into the buy now/pay later market.

Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the economy.

Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options.

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision.

Comerica, Citizens Financial and other companies are buying up securities, paying off high-cost borrowing and trying to develop specialty lending niches. But loan growth remains weak, and the likelihood of extreme volatility in deposits makes it hard to plan ahead.

The company wants to join in on the rush to develop stablecoins and central bank digital currencies, in part to show that it can still be a player in cutting-edge technologies after its merger deal with Plaid fell through.

The company wants to join in on the rush to develop stablecoins and central bank digital currencies, in part to show that it can still be a player in cutting-edge technologies after its merger deal with Plaid fell through.

The banker, who led the 2013 recapitalization that created Byline, will replace a longtime colleague who will continue to run the company's bank.

The pandemic has accelerated the card brand's shift toward providing ancillary services including analytics and dispute resolution.

Y-Combinator fintech Stilt has secured a new loan facility from Silicon Valley Bank to diversify its funding sources and expand its lending efforts to immigrants and thin-file borrowers.