Practice and client management

The coronavirus pandemic has created major credit issues at the Boston bank and stymied efforts to improve profits, fueling speculation that the onetime serial acquirer could be a takeover target.

Richard Marotta left the Boston company less than two weeks after a goodwill impairment charge contributed to a large quarterly loss.

MatlinPatterson, which once owned more than 60% of the Michigan company, has been paring back its stake in recent years.

Robotic Process Automation and other cognitive automation tools can handle repetitive manual tasks such as processing data from websites and other applications says Kofax's Wendy St. Clair.

A handful of credit unions have embarked on co-location strategies, sharing branch space with coffee shops and other businesses, but the social distancing era may force some institutions to rethink those plans.

The credit union, formerly known as Kern Schools FCU, selected an internal candidate to take the helm once Stephen P. Renock, IV, retires in July.

Chief Financial Officer Matt Koch will take the helm later this year when longtime CEO Clark Yelverton retires.

Some institutions have long worked to recruit a diverse workforce and address discrimination but these initiatives have taken on greater importance as protests have highlighted racial inequality.

Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit.

The account would complement the existing Community Development Financial Institutions Fund and could be replenished annually if banks and credit unions use the funds to help when natural disasters and other crises occur.

The company will pay an undisclosed amount of cash for Marshall Financial, the parent of Citizens Bank.

Delmar Bancorp will lose its regionally associated brand when it becomes Partners Bank.

A new report from Access Softek showed at least one in five members are likely to reduce their branch visits once the pandemic ends, though the risk of consumers leaving their credit union entirely may have declined.

The prepaid card company benefited from payments that were designed to offset the pandemic’s impact on U.S. consumers.

Members who use the account, which should be available starting in 2021, will manage it through Google Pay.

Mark Turnham is set to retire from the Portland, Ore.-based credit union, having worked there since 1980.

The deal will give ORNL access to three additional counties in the region.

Jared Freeman will take over at the Harahan, La.-based institution having previously served in leadership roles at a variety of other credit unions.

Heritage Bank and Dime Community Bank are among those financial services firms taking online and app-store reviews seriously. Here’s why all banks should pay attention.