Wealth management

Seven credit unions have asked Michigan's banking regulator for permission to launch a trust company, a move that bankers says oversteps that industry's role of helping people of modest means.

Credit Union Trust is targeting a Q1 2019 opening, pending regulatory approval.

The Detroit company is facing stiffer competition in the battle for online deposits, but it has benefited from a key rival's retreat in auto lending

State Street said it would suspend a share repurchase program and issue common and preferred stock to pay for the deal.

Assets under custody and administration surged to a record high of $33.6 trillion, the trust bank said in its second-quarter report.

About 15% of Walmart’s workforce is budgeting and taking pay advances through the app.

OneUnited in Boston recently issued a debit card supporting immigrants, taking a public stand on a divisive national issue.

The big custody bank's fees surged on new business gained from its deal for UBS business units in Europe.

Credit unions can apply for the app through Aug. 31.

The unit’s profits plunged in the second quarter as the company contended with the fallout from overcharging wealth management clients. Was it a one-off or the beginning of a long-term problem?