Fallout from the coronavirus pandemic consumed the industry this year, but other events, including a scandal at the National Credit Union Administration and a credit union under fire for lack of board diversity, also made waves. ... Read full article
JPMorgan Chase is buying Stamford, Conn.-based cxLoyalty, a major credit card loyalty platform, in a bid to enrich its own card loyalty programs when travel resumes following the global pandemic. ... Read full article
A look back at a year in which little went according to plan for credit unions. ... Read full article
Members of $6.3 million-asset FIAFE Federal Credit Union will vote early next year on whether to merge into $43 million-asset Central Credit Union of Maryland. ... Read full article
One engineered a big M&A deal, another struggled with his bank's credit issues and another abruptly resigned. Here are their stories and more. ... Read full article
Riverside Health System Employees Credit Union has announced plans to merge into the Yorktown-based credit union, which is roughly 100 times its size. ... Read full article
The company will pay $20 million in cash for a bank with two branches and $58 million of loans. ... Read full article
The $10 billion portfolio of what are described as high-quality private student loans will be serviced by Nelnet. ... Read full article
The latest monthly Trends Report from CUNA Mutual Group showed October's year-over-year membership growth rate was the slowest since the fall of 2014. ... Read full article
The agency’s second in-depth study of the community banking sector pointed to continued challenges for local institutions from the pandemic and other headwinds, but many smaller banks are reaping the benefits of M&A and holding their own against larger ... Read full article
It isn't lost on Fiserv that consumers increasingly are moving to digital financial services. Its deal to acquire Ondot Systems, a digital card solutions platform, aims to capitalize on the shift. ... Read full article
Bansley & Kiener, without admitting wrongdoing, agreed to pay $2.5 million to address allegations that lax oversight contributed to the 2017 collapse of Washington Federal Bank for Savings. ... Read full article
The company agreed will pay nearly $10 million for Sunset parent Waukesha Bankshares. ... Read full article
A new report from McKinsey says that cost-cutting alone won’t make up for the steep revenue declines brought on by low interest rates and sluggish loan demand. “For some banks,” argues the report’s author, “mergers might be the best way out.” ... Read full article
Columbus Metro Federal Credit Union members will have access to more products, including commercial loan services, and 14 branches with the merger. ... Read full article
Cardtronics has benefited from a wave of branch closings during the pandemic by partnering with lenders looking to offer their customers access to cash even when a full-scale branch isn’t available. ... Read full article
The accelerating pace of branch closures is partly due to industry consolidation, according to the community reinvestment group that authored the new report. ... Read full article
The Columbus, Ohio, company says it has delivered on M&A promises before, and many observers say its deal for rival TCF Financial is an opportunistic move in its bid to build a Midwestern powerhouse. But others questioned whether Huntington's ... Read full article
Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources. ... Read full article
The Amarillo bank is buying First National Bank of Tahoka, continuing the industry’s consolidation in the state. ... Read full article
