Corporate finance

In placing the $6.6 million-asset institution in conservatorship, the regulator has taken charge of two credit unions in just the first two weeks of the year.

Fourth-quarter results were hurt by restructuring and customer-remediation charges, but the release of credit-loss reserves and the sale of a student-lending business gave an unexpected boost to net income.

Strong trading and investment banking fees also contributed to a 42% increase in profit to $12.1 billion in the fourth quarter.

Smaller financial institutions and fintechs need to work together to continue closing the unbanked gap through expanded digital banking capabilities.

Robert Kafafian says he's hearing more MOE chatter now than at any time in his decades-long career as a consultant. He cited smaller banks' need to cut costs, improve tech offerings and compete with bigger lenders.

The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity.

After three years of savings, top U.S. banks could face an increased tax bill of as much as $11 billion a year if President-elect Joe Biden moves forward with corporate rate hikes he campaigned on.

The company, which reported a large third-quarter loss in October, plans to sell or shutter a quarter of its locations.

CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said.

The New Canaan, Conn., company said it will record a pretax expense of $3.9 million in the fourth quarter related to branch and office closings, severance payments and the end of a vendor contract.

Provisions implemented under the CARES Act that made it easier for institutions to utilize NCUA's Central Liquidity Facility have been extended for a year with the signing of Consolidated Appropriations Act.

One engineered a big M&A deal, another struggled with his bank's credit issues and another abruptly resigned. Here are their stories and more.

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up.

Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift.

The company adds to a growing list of banks shutting branches to invest in technology offerings.

A new report from McKinsey says that cost-cutting alone won’t make up for the steep revenue declines brought on by low interest rates and sluggish loan demand. “For some banks,” argues the report’s author, “mergers might be the best way out.”

U.S. consumers wanting to use cash for online payments will have the option to do so through a collaboration between Paysafe and Incomm Payments.

Management teams are forging ahead with technology projects and bonuses for some employees despite a deep slide in net income this year.

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

Credit quality has remained strong at credit unions, but there are hints that some of them — especially the smallest ones — could report lackluster earnings well into next year, according to the National Credit Union Administration's latest intel on industrywide finances.