Practice management

Banks need to rethink their relationships with customers for an era in which transitioning to a new financial services provider carries far fewer costs.

JPMorgan Chase, Wells Fargo and TD Auto Finance all see opportunities in providing financing to dealers for inventory, the purchase of competitors and the addition of infrastructure for electric vehicle sales. Two other banks recently said they're exiting the business, which could provide a further opening.

The credit-reporting agency was fined $650,000 for sending customers marketing emails without an option to unsubscribe. Financial institutions are subject to the same law, called the CAN-SPAM Act.

The bankrupt former parent of Silicon Valley Bank is losing $9 million a month in interest on deposits that were trapped when federal regulators took over the failed bank.

Banks looking to grow customer relationships can't be complacent about investing in the digital products and dedicated service that ignite positive brand loyalty.

Discover Financial Services' announcement of the immediate resignation of longtime executive Roger Hochschild comes weeks after the company announced it overcharged merchants for 16 years.

Thomas O'Brien has gained a reputation for being able to salvage institutions on the brink of disaster. With his latest rescue job nearly complete, the fix-it specialist ponders his next move.

In the wake of destruction across Maui, financial institutions based inside and outside of Hawaii are establishing support programs, raising relief funds and facilitating donations of food and clothing.

After eight years leading one of the nation's most prominent Black banks, Michael Pugh will become chief executive of the Local Initiatives Support Corporation.

The $1.6 billion-asset company said in a press release Wednesday that its directors "voted to terminate" Kevin Lycklama's employment. Dan Cox, chief credit officer, was named as acting president and CEO.