Economy

Pressure to raise rates on deposits offset strong loan growth at the Salt Lake City company.

Payments technology is advancing at such a rapid pace, the most valuable asset for those in merchant acquiring is expertise.

Lawmakers will hear from a credit union executive on cannabis banking while also considering issues such as the use of alternative data in underwriting.

On Mar. 31, 2019. Dollars in thousands.

On Mar. 31, 2019. Dollars in thousands.

On Mar. 31, 2019. Dollars in thousands.

Weighing in on interest rate and other uncertainties facing all banks, Citizens Financial CEO Bruce Van Saun emphasized investments in point of sale, digital banking and other initiatives meant to enhance revenue down the road.

The Birmingham, Ala., company warned in its earnings call that moves by the central bank could make it harder to lower costs.

The National Credit Union Administration caught flak after it approved raising the threshold for appraisals on commercial real estate loans to $1 million.

Credit unions reported gains in a number of key areas but member business lending and new auto loans took a hit as overall growth continued to slow.

While executives at the Buffalo, N.Y., bank said they would take a closer look at spending, especially given the potential for interest rate cuts, they described investments in tech talent as an essential cost of doing business.

The challenger bank startup will use the new cash to double its U.S. headcount.

For ISOs, it's hard to watch someone else deliver payment services in their place.

Although the presidentially directed reports on housing finance reform are "essentially done," FHFA Director Mark Calabria doesn't expect them to be published until August or September.

Ahead of a House hearing to examine his company's proposed merger with SunTrust, King tried to downplay regulatory concerns.

A centerpiece of her “economic patriotism” bill is to transform private equity firms, which she said will buy a company and bleed it dry before “walking away enriched even as the company succumbs.”

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

CEO William Demchak, encouraged by early returns from new branches in Dallas and Kansas City, Mo., plans to enter even more markets.

The decision gives the vast majority of banks and credit unions another year to implement the controversial accounting method for loan losses.

The Texas bank said it was setting aside higher provisions for credit losses as private investments are drying up in a volatile oil and gas market.