News Topic: Consumer banking

When small banks leave the community, it makes sense for credit unions to fill the void. ... Read full article

The decline in net interest income combined was among the reasons why year-over-year profits at the U.S. operations fell for the first time since 2012. ... Read full article

As the COVID-19 virus spreads globally, many U.S. financial institutions are said to be taking steps to protect employees and minimize disruption. But only a handful are sharing specifics, to avoid contributing to any public panic. ... Read full article

Under CEO Charlie Scharf, the bank that has historically viewed itself as more Main Street than Wall Street is becoming deeply embedded in the nation’s financial capital and its hard-charging culture. ... Read full article

With its expenses soaring, the Toronto company has taken a $250 million restructuring charge to cover severance from staff reductions. ... Read full article

The ten-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership. ... Read full article

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions. ... Read full article

Regions, Citizens, BMO and others are adopting principles IBM unveiled at Davos. ... Read full article

The Wall Street giant will inherit some $56 billion of low-cost deposits that will allow it to offer more traditional banking products to its wealth management clients. ... Read full article

The company will nearly double the amount of marine loans on its books after buying a division from People's United. ... Read full article

The bank still plans to open branches on the West Coast even as it trims its overall U.S. footprint by 30%. ... Read full article

Alexander most recently headed up mortgage lending and before that co-led the integration of Key's acquisition of First Niagara. He replaces Dennis Devine, who recently left the company. ... Read full article

Meyer was credited with guiding the Cleveland company through the financial crisis and returning it to profitability. He died this week at his home in Florida. ... Read full article

The fintech, which translates foreign credit reports to help immigrants get loans, says it has raised millions from venture capital firms and celebrities like Alex Rodriguez and U2's The Edge because its product addresses important economic and social ... Read full article

Bankers groups are keeping close tabs on a host of legislative and gubernatorial proposals, from prize-linked savings accounts in Iowa to rent control in Massachusetts to a slew of bills modeled after California's recently passed data privacy law. ... Read full article

The German challenger bank said that its "several hundred thousand" customers in the U.K. have until April 15 to withdraw money or transfer it to another account. ... Read full article

It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators. ... Read full article

It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators. ... Read full article