Nearly all banks need more fee income, and many have extra cash for investing in growth. Some have started buying up wealth management firms, while others have decided to pare back and specialize.
Zack Bishop has experience in blending the systems of merged banks, according to Synovus, which this summer announced its first whole-bank deal in more than a decade.
A year after its launch, Zelle’s P2P payment volume has rapidly expanded through usage at the nation’s largest banks. But enabling smaller institutions to offer it to their customers is proving to be more challenging.
His knack for public policy, dedication to technological improvements once considered the province of big banks, and willingness to tear up a business model that he and his father built make him our top Best in Banking honoree.
Unlike online lenders, banks are focusing primarily on consumers with solid credit scores. But unsecured loans to prime borrowers have a limited track record, so it’s hard to predict how they’ll perform when the economy inevitably weakens.
Bank groups are pushing a variety of proposals to delay the loan-loss rule or soften its impact. The accounting standards board has agreed to review at least one of them — but at a pace that might not be fast enough for lenders.
Jelena McWilliams is responding to concerns from Republican members of Congress that FDIC staffers are discouraging banks from doing business with certain industries.
