The Swiss bank got involved in microfinance in a counterintuitive way: at the behest of its wealthiest clients. Technology has made lending in small rural villages more efficient and profitable.
Bank Mutual was still in talks to buy a bank roughly its own size when it began exploring a sale. The move allowed Bank Mutual to quickly find a buyer after its planned acquisition fell through.
Dave Sapenaro, first vice president and chief operating officer at the Federal Reserve Bank of St. Louis, will oversee the Fed's payments system improvement initiatives.
The credit card issuer paid $95 million to settle charges it offered inferior terms to customers in American territories; Mitsubishi UFJ wants to become a top 10 U.S. bank.
Landmark Bancorp in Manhattan, Kan., could lose more than $5 million — more than it earned in the first half of the year — if a recently discovered overdraft situation cannot be resolved.
