The Michigan institution's asset base increased substantially in 2019 thanks to a merger but has continued to grow in 2020.

First-quarter income for credit unions chartered in the Badger State increased by about 6% from the same period one year earlier.

The regulator cited "unsafe and unsound practices" at the Georgia-based institution, which is the first credit union to be conserved this year.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

In an effort to help the industry manage the economic downturn, some credit unions won't be required to submit plans to lower their retained earnings for the rest of this year.

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different from what it might have been just six months ago.

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

The closure of IBEW Local Union 712 Federal Credit Union marks the first CU to shut its doors in the wake of the coronavirus.

Royal Bank of Canada and Bank of Montreal joined their Canadian peers in setting aside record provisions for loan losses as they brace for the economic fallout from the coronavirus pandemic.

The Baltimore-area credit union crossed the latest threshold despite a dip in net income during the first quarter as many organizations struggle with the coronavirus fallout.

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."

Wirecard AG said it still expects full-year earnings to rise, even as some business customers struggle with the lockdown.

More write-downs seem inevitable as the coronavirus outbreak wreaks havoc on the economy and bank stocks.

When Fiserv purchased First Data in 2019, it was part of an industrywide push to combine bank and merchant technology under one roof. A year later, a key piece of First Data’s technology — and its top executive — have become Fiserv’s path through the coronavirus crisis.

The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic.

Bisignano, who engineered a technology-driven recovery at First Data before it was acquired by Fiserv last year, will take Fiserv's top job as the company forges its coronavirus strategy.

When the coronavirus pandemic began, Square pushed hard to get a bigger share of merchants' online sales and consumers' stimulus spending — and even received its long-desired bank license — but found that this wasn't enough to offset the effects of the crisis.

Despite PayPal's efforts to get people to receive — and spend — their stimulus checks from PayPal accounts, the coronavirus pandemic caused its revenue for the first quarter to come in below company guidance.

U.S. banks under $10 billion in assets made 60% of the loans in the first round of the Paycheck Protection Program; things go relatively smoothly in the U.K. as 110,000 small businesses apply for low-cost loans.

The Illinois company will sell Bates Cos. to an undisclosed buyer less than two years after buying the wealth management firm.