Economy

New American Customer Satisfaction Index data shows consumers slightly favored banks, which are benefiting from investments in technology.

The Treasury Department's CDFI Fund issued nearly $32 million to credit unions this week after providing $3.5 million in technical assistance grants earlier this year.

Avid Modjtabai, who runs Wells Fargo's payments and technology innovation unit, is leaving the firm as new Chief Executive Officer Charlie Scharf continues to shake up top management.

The smooth and relatively short process should be encouraging to other big banks that are eyeing deals. But their window of opportunity may not last long.

The regulators approved the deal after nine months of consideration, but the Fed hit SunTrust with a consent order tied to "unfair and deceptive" business practices from 2013 to 2017.

The Federal Housing Finance Agency is scrapping a capital proposal it released last year and will seek comments on a new plan in 2020.

Rules related to custody banking, commercial real estate and derivatives were among the last required under last year’s regulatory relief law.

There's been chatter that investors are shying away from Fannie Mae and Freddie Mac mortgage-backed securities because Congress may not enact housing finance reform. Be skeptical of those claims.

The startup — whose backers include CitiVentures, SVB Capital and Microsoft's venture fund — says it's building an end-to-end platform for small businesses that integrates loans, checking, payments and other services.

The 2015 decision posed new legal challenges for institutions trying to sell loans to third parties, but the federal regulatory agency proposed steps Monday for banks and debt parties to evade state interest rate caps.

The Soboba Band of Luiseño Indians plans to form a holding company and raise $25 million for Legacy Bank.

A recent bank failure and a new legislative effort are again drawing attention to the struggles of black-owned banks since the crisis — and the fact that only 21 are left.

Allen Parker, who led Wells Fargo during its six-month search for a new chief executive, will leave the bank next year.

And the government-sponsored enterprises could hold initial public offerings in 2021 or 2022 to ensure they hold adequate capital, FHFA Director Mark Calabria said.

Sen. John Kennedy, R-La., has proposed a bill to bar companies such as Rakuten from using industrial loan companies to access the banking system.

Google has partnered with Citigroup and a California credit union to offer consumer checking accounts, a person familiar with the matter said.

So far farm loans are holding up well, but bankers gathered at an industry conference this week said they are growing increasingly concerned that credit quality will weaken if the U.S. and China don’t reach a deal soon.

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.

A group has filed paperwork with the FDIC to form Legacy Bank in Temecula.

Fannie Mae and Freddie Mac’s exemption from the Qualified Mortgage rule is on borrowed time, but a House bill would allow lenders to use the mortgage giants’ guidelines for documenting borrower income.