Credit unions' credit and debit card portfolios could see a surge this week as the online retailer offers two days of deals, while the industry's regulator is set for a cybersecurity update. ... Read full article
The California-based institution joins a small group of CUs that represent only about 7% of institutions but hold about 70% of industry assets. ... Read full article
Big banks are expected to have another bad quarter, but not as bad as Q2, when they took large default charges; the apps have made it a little too easy to transfer money, especially for thieves. ... Read full article
Chase First Banking is embedded in the bank's mobile app and has parental controls. It is an example of how banks are trying to attract Generation Z. ... Read full article
Citigroup posted its biggest quarterly profit of the pandemic after reaping another windfall from trading bonds and expressing newfound confidence in the resilience of its loan book. ... Read full article
The company defied expectations by cutting its reserve for loan losses by $569 million, after adding $20 billion to the allowance in the first half. ... Read full article
House Democrats’ antitrust reform plan intended to rein in companies like Amazon and Google could help level the regulatory playing field between the banking industry and its digital competitors. It could also revive calls to break up financial behemoths. ... Read full article
The unit as of September had 20% more clients than a year earlier. Liu, who is head of North America for Citi Private Bank, explains the changes she’s made to help her group attract and serve millennials, Gen Z, Asian Americans and families. ... Read full article
The South Carolina company has agreed to buy the parent of Security Federal Bank. ... Read full article
The agency had raised concerns in the Obama administration about kickbacks in the marketing pacts between mortgage lenders and other providers, but the agency's recent guidance says the deals are legally viable. ... Read full article
The JPMorgan Chase CEO, among the biggest Wall Street proponents of returning workers to the office, doesn’t see life returning to some form of normal until mid-2021 at the earliest. ... Read full article
Crane Credit Union has taken an Instagram Stories-like approach, while Certified Federal Credit Union is crafting personalized email messages. ... Read full article
USAA sues PNC over mobile check deposit technology; flood of liquidity that accompanied the pandemic recession unlikely to subside anytime soon; 'enigmatic' CFPB chief could drop more surprises in a second Trump term; and more from this ... Read full article
Cash, Treasurys and other securities effectively guaranteed by the federal government now make up more than 35% of the combined balance sheets of the 25 biggest U.S. banks, according to data compiled by the Fed. That’s the biggest share in records dating ... Read full article
Even more so than activist investors, customers and a new generation of employees are driving banks to back environmental, social and governance reforms, executives said during a Women in Banking roundtable hosted by American Banker. ... Read full article
Digital money will have to coexist with cash and other forms of tender, according to a report by the Bank of International Settlements, the Federal Reserve and other institutions. ... Read full article
The deal is expected to close sometime next year but is still subject to regulatory and member approval. ... Read full article
Morgan Stanley’s $7 billion purchase of Eaton Vance marks the latest wager that finding a big partner is critical to survival in the asset management industry. ... Read full article
Banks need to be inclusive at the highest levels, and men in the C-suite need to play an active role in that transformation, says Operation HOPE’s John Hope Bryant. ... Read full article
The industry can gain lifelong members in this demographic by validating their financial concerns as the economy struggles and offering guidance without judgment. ... Read full article
