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.

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.

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.

Capital One Financial is the latest credit card issuer to release loss reserves because its loans have performed better than expected during the pandemic.

The Georgia company increased its target for annual expense cuts and new revenue to $175 million from $100 million. But executives warned that low interest rates and weaker mortgage volume, along with a need to invest in technology, will delay some of the bottom-line benefits.

The card brand is betting on homebound consumers' eagerness to get out, but restrictions will need to ease. And corporate spending will take much longer to come back.

The card brand is betting on homebound consumers' eagerness to get out, but restrictions will need to ease. And corporate spending will take much longer to come back.

The Columbus, Ohio, company plans to close nearly 200 branches in the state — including more than 90 in Meijer grocery stores — after it acquires TCF Financial. It also intends to significantly boost its technology spending to improve its digital capabilities.