Economy

When Jane Fraser takes the reins of Citigroup in February, she will have to tackle the company’s cards slump, lagging performance metrics and challenges presented by employees’ return to the office.

When Jane Fraser takes the reins of Citigroup in February, she will have to tackle the company’s cards slump, lagging performance metrics and challenges presented by employees’ return to the office.

The stock market has reached record highs despite rampant unemployment, recession and a global pandemic. What gives?

Citigroup named Hassan to the new role as part of a move to combine its marketing and branding divisions.

The bank's innovation group has developed a software tool for law firms. It hopes the project will help it speed products to market and attract top technology talent.

Only one of the 118 loans bought by the Federal Reserve through Aug. 31 was close to the $250,000 minimum in the rescue program, aimed small to midsize businesses hurt by the pandemic.

The Ohio regional added a feature to its mobile app that analyzes a customer's spending habits before sweeping small amounts of cash into a savings account.

The Federal Housing Finance Agency's proposal could undermine the companies’ mission to support the housing market and penalize consumers in underserved communities, industry and consumer groups say.

A New York CDFI is halfway to its $100 million fundraising goal for a fund that would put deposits in Black-owned banks and make loans to key businesses or projects. It hopes the moves will improve availability of capital and access to mainstream financial products.

The bank's Pershing unit is using fingerprint and facial recognition technology on Apple devices to protect user access to its desktop software.

The New Jersey company will add three branches in the northern part of the state as part of the transaction.

When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.

With the increase in bank transfers and e-wallets, consumers' payment preferences are heading in this direction, particularly during economic crises, says PPRO's James Booth.

The move is part of the effort by banks and other companies to promote racial equity and be more sensitive to the stresses on front-line employees.

Backers of lawsuits challenging federal charter and interest rate policies for nonbanks say states are sticking up for consumer protection. Others say the legal quagmire could slow efforts to improve the regulatory framework.

A state judge deciding a dispute between Spencer Savings and an investor said the mutual must get an independent review before switching from a savings association to a savings bank. The ruling may complicate mutuals' efforts to make more business loans.

The bank's five-year commitment will focus on providing more capital to small businesses and expanding access to affordable housing and homeownership.

Banks that work with the data aggregator will tell it when account updates are ready, so it can refresh fintech (or bank) apps immediately.

The results of the American Banker/RepTrak Survey of Bank Reputations underscore the importance of communicating in a crisis.

Baptist Memorial Health Care in Memphis, Tenn., is among the first to enable real-time payment posting into Epic systems and a single deposit that reconciles daily with the Baptist Memorial system.