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Senate Banking Committee Chairman Sherrod Brown urged the agency to share insights about the risks posed by neobanks, such as the San Francisco firm that sparked a customer backlash earlier this year.
July 27
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Research shows a third of younger consumers are ready to switch banks in the next year. Here are some of the features traditional institutions could offer to keep them in the fold or bring them on board.
July 23
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The Arkansas bank built the mobile-first Coin Checking to suit Generation Z and young millennials. A phone-friendly app and simplified sign-up process are among its selling points.
July 20
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Hafize Gaye Erkan, the San Francisco bank's president, will share the chief executive role with longtime leader James Herbert, whose contract was extended through 2022.
July 13
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In the midst of its merger with CIT Group, First Citizens in North Carolina has hired an in-house chief counsel with experience in corporate integrations.
July 9
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Wells CEO Charlie Scharf, a former Jamie Dimon protege, has surrounded himself with JPMorgan Chase alumni. Ling will start in October and join the company’s operating committee.
July 8
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The Treasury Department is awarding $1.25 billion to 863 community development financial institutions through the Rapid Response Program, which allows banks and credit unions to earmark funds for mortgages and business loans in underserved markets.
July 8
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William "BJ" Losch will become chief financial officer at the Wilmington, North Carolina-based small-business lender. The former CFO of Iberiabank will take over the vacated position at First Horizon on an interim basis.
June 30 -
No-fee digital bank accounts subsidized by the Federal Reserve would help community banks draw in new customers and pay for technology upgrades, proponents of the idea say. But it's a hard sell to executives skeptical of government involvement in retail banking.
June 23
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Southern Bancorp, a community development financial institution, will devote part of a multimillion-dollar investment from the payments giant to developing technology that helps consumers budget, buy a home and more.
June 22
