Somerset Savings Bank will convert to a stock-owned bank before merging with Regal Bancorp, the holding company for the $545 million-asset Regal Bank, also in New Jersey.

Credit Suisse Group plans to announce the departure of Chief Executive Thomas Gottstein, The Wall Street Journal reported, part of efforts to turn around the struggling company. 

UBS signaled that it’s part of a broad probe by U.S. regulators into messaging by bank employees that’s likely to saddle lenders with fines of about $1 billion.

Credit Suisse Group, the Swiss bank that lost dozens of key dealmakers last year, is once again offering lucrative retention payments to prevent senior talent from leaving. 

Under the leadership of new CEO Rob Holmes, the Dallas-based company has embarked upon a top-to-bottom transformation to become the "flagship financial services firm" of the Lone Star State. But can Holmes make progress quickly enough to satisfy impatient investors?

A senior U.S. Republican lawmaker accused China of a broad campaign to obtain confidential information from the Federal Reserve, including recruiting central bank staffers and detaining a Fed employee visiting Shanghai.

A July 8 outage affected emergency services, financial payment systems, government offices and businesses — some of which were forced to do cash-only sales. 

Dominica Groom Williams succeeds Wendy McSweeney, who’s joining a new team at the bank focusing on environmental, social and governance issues.

A former Goldman Sachs Group banker was accused of passing insider trading information to a squash buddy, part of a group of nine people charged Monday by federal prosecutors in New York.

HSBC Holdings' U.K. unit is planning to stop collecting data on the gender of its customers across some products as the bank pursues more inclusive services for nonbinary and trans people.

During the bank’s second-quarter earnings call, Cort O'Haver, president and CEO, said Umpqua and Columbia still hadn’t received an approval yet but were hoping to complete the integration next year.

Barclays' CBDC project, layoffs at Varo Bank and more in banking this week

The financial technology startup Zepz has named Bill.com Chief Operating Officer Mark Lenhard as its next chief executive, people familiar with the matter said.

The National Crime Agency has seen a surge in so-called suspicious activity reports filed by banks and other regulated institutions in the U.K. since February. 

Banco Santander was eliminated from the bidding process for Citigroup’s Mexican unit, opening the way for a takeover by a local rival.

The Connecticut bank’s proposed combination with American Challenger Development Corp. was terminated because the two parties didn’t anticipate they could meet the closing conditions. The fintech now says it’s retained Citigroup to explore a possible sale.

The Pittsburgh company beat analysts’ expectations and reported double-digit loan growth even excluding assets added in a recent acquisition. A pending deal in North Carolina would provide it a ready source of low-cost deposits in a rising-rate environment, the CEO says.

Bank of America is keeping to its original hiring plans despite challenging economic conditions that have prompted others to pull back, Chief Executive Brian Moynihan said.

Kristy Kim, co-founder and CEO of TomoCredit, started out trying to help immigrants like herself access credit. With the latest funding round, she hopes to expand beyond credit cards.

Federal Reserve Chair Jerome Powell recently sold more than $1 million of municipal bonds issued by various entities across the U.S. as tough new ethics rules took effect for central bank officials in the wake of a trading scandal last year.