Practice and client management

Gaye Erkan was widely seen as the front-runner to succeed founder James Herbert. Following her abrupt departure, the San Francisco bank must decide whether to find its next leader internally or recruit an outsider.

Hafize Gaye Erkan stepped down just weeks after the bank's founder, chairman and co-chief executive, James Herbert, announced a medical leave of absence. The San Francisco company named an interim CEO and said it will conduct a search for Herbert’s successor.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

A dispersed workforce presents added cybersecurity challenges resulting from employees accessing their organization’s networks through a home connection. This new reality reinforces the need for financial institutions to transform their digital infrastructure to guard against breaches.

The central bank also signed off on Webster Financial’s acquisition of Sterling Bancorp and WSFS Financial’s purchase of Bryn Mawr Bank Corp. The moves come amid a political fight over the bank merger approval process.

The social network, now called Meta Platforms, is buying the South Dakota bank's name for $60 million.

The tax preparation company, which is building out its own financial services business, says Square's new brand "would improperly capitalize on the goodwill and consumer trust cultivated by [H&R] Block since 1955."

Kabbage and other firms are extending credit to fund higher salaries at the small merchants that are struggling to hire new employees.

FNB Bank in the hard-hit community of Mayfield lost its headquarters during the catastrophic storms. It and other financial institutions are aiding local residents who are now taking stock of the damage.

An industry expert shares key takeaways on how institutions can implement sophisticated technologies to attract a younger generation of customers.