Corporate finance

A lawsuit filed by a New Jersey branch employee who was fired in 2016 includes detailed allegations about the pressure that front-line workers faced to meet monthly sales targets. The case is scheduled to go to trial in February.

The Boise-based credit union is the fourth institution in the Northwest to receive the recognition.

This is the second time in five years the California-based credit union has issued a giveback, for a total of $38 million.

Five years into Victor Dodig's time as chief executive officer of CIBC, the performance gap between Canada's fifth-largest bank and its peers is as wide as ever.

Delinquencies also remained at "historical low levels" through Sept. 30, according to the state's financial regulator.

Zazu Limited, a Zambian fintech, has partnered with Mastercard to launch a mobile wallet that supports a prepaid account instantly issued from the app to any local consumer — with or without a bank account.

The Wisconsin-based institution has returned more than $11.7 million to members over the past six years.

Such credits, which reflect borrowers with financial challenges, increased significantly during the third quarter.

The issue, tied to how the company reconciles corporate accounts to its general ledger, is not expected to impact past financial statements.

The Louisiana company's willingness to combine with First Horizon without a big initial payday is fueling talk that other banks could be keen on selling at relatively inexpensive prices.

Completing the deal before the new year would let the merged company avoid an earnings hit in complying with the Current Expected Credit Loss accounting standard and give it more flexibility on capital adjustments.

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.

The credit union retains a strong net worth position and saw a nearly 5% increase in members during the first three quarters of this year.

The Honolulu-based credit union saw a nearly 7% increase in new members, thanks in part to an expanded branch presence in West Oahu.

The regulator’s inaugural event on equity and inclusion highlighted the personal and professional but also veered into addressing hurdles credit unions face regarding this issue.

Square Cash generates a lot of revenue – and the road to Square’s success is the Cash P2P app, along with Seller tools, as its two curated ecosystems that are cross-selling their way to profitability.

While layoffs at big banks get the headlines, small and midsize lenders are also trimming payrolls in response to lower rates and fears that a recession is getting closer.

Service would help with compliance; JPM CEO sees more short-term lending rate spikes if no long-term solution implemented.

One organization's findings reveal that financial counseling, when done right, can also help boost institutions' lending and brand recognition.

Cash access has grown tighter in the U.K. as more consumers adopt digital payments and banks shrink their fleets of branches and ATMs. Could the U.S. could see a similar phenomenon?