Commercial banking

HSBC ramps up digital banking for businesses

10/27/20

The global bank has rolled out cash-flow forecasting tools as financial institutions race to meet urgent demands from commercial customers trying to navigate uncertain times.

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Fifth Third promotes Tim Spence to president. Is he next CEO?

10/26/20

Spence’s promotion to president could signal that the Cincinnati banking company is grooming him as a potential successor to Chairman and CEO Greg Carmichael.

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Customers have turned cautious and banks are getting pinched

10/25/20

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone.

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Credit unions are losing ground with small business members

10/22/20

Institutions that cling to outdated lending tools run the risk of being left behind by commercial clients who are barraged with opportunities to borrow faster and more conveniently.

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What’s behind the unlikely First Citizens-CIT deal

10/16/20

The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.

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First Citizens to buy CIT for $2.2 billion

10/16/20

The combined company would be the nation's 19th-largest bank with roughly $110 billion of assets.

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BofA adapting consumer tech for use with corporate clients

10/15/20

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

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Wells Fargo eliminates more than 700 jobs in commercial banking

10/07/20

Wells Fargo cut more than 700 commercial banking jobs as it embarks on workforce reductions that could ultimately number in the tens of thousands, according to people with knowledge of the matter.

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How lenders aim to profit from climate change

10/06/20

HSBC, Bank of the West and Fannie Mae are among those offering green mortgage bonds, financing commercial clients’ efforts to rein in carbon emissions and developing other novel products that help customers tackle environmental challenges.

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Citi cleared to seek information in $900 million-error suit

09/30/20

Citigroup can seek information on the relationship between investment managers and Revlon Inc. creditors who have refused to return millions of dollars the company says it mistakenly sent them, a judge ruled.

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