While less than half of U.S. banks said they were very or extremely satisfied with their core technology provider, these vendors overestimated their effectiveness in helping banks, according to a survey from the American Bankers Association.
With customer behaviors changing and challengers such as digital giants, fintechs, and neobanks vying for market share, traditional retail banks must act now or lose out later in their quest for growth, according to a new report by Boston Consulting Group.
Payrailz, a Glastonbury-based digital payments company servicing banks and credit unions, has hired Gereen Langmeyer as vice president of payment products.
Following last year’s acquisition of Farmington Bank, Bridgeport-based People’s United Bank has seen its deposit share grow, vaulting it into second place statewide.
Insured deposits at financial institutions would see a bump if Congress provided legal safety for those banking marijuana businesses.
Students across the country are paying millions in account fees to banks that have struck marketing deals with colleges and universities.
The 35 largest U.S. banks are poised to put more money toward dividends, share buybacks and business investments, after clearing the first stage of an annual regulatory stress test on Thursday, showing they have enough capital to withstand an extreme recession.
Investors have reached $96 million in settlements with the final five defendants in private U.S. litigation accusing banks of rigging a key interest rate benchmark in the global derivatives market, boosting the total payout to more than $500 million.
A Massachusetts man has pleaded guilty in federal court in Connecticut to his role in a scheme to steal tens of thousands of dollars from bank ATMs.
The U.S. gun lobby is taking aim at “gun-hating” banks after Citigroup Inc. and Bank of America said they would no longer provide certain banking services to gun-makers, according to industry lobbyists.
Close to 80 percent of retail bank customers want financial advice from their banks, but only 28 percent of retail bank customers say they are actually getting it, according to a new survey from J.D. Power.
At the end of the second quarter, the number of banks in Connecticut remained unchanged from one year ago, while assets controlled by the 42 banks in the state grew by roughly $6 million from the second quarter of 2016, according to recently released FDIC data.
Retail banks have earned the trust of their customers who believe banks help them find the right product based on their financial needs, according to the J.D. Power 2017 U.S. Banking Sales Practices and Advice Study.
The U.S. Justice Department has said it will end an initiative created by the Obama administration that discouraged banks from doing business with certain industries such as short-term lenders and firearm dealers.
Bill Haynes started helping financial institutions with their communication efforts before there were any firms exclusively dedicated to that industry.
Investors are hoping the Federal Reserve will allow big U.S. banks to put an estimated $150 billion in idle capital toward stock buybacks, dividends and profit-boosting investments in the coming weeks after conducting a regular examination of financial strength.
Big global banks, including Morgan Stanley, JPMorgan Chase & Co. and HSBC are bracing for potential tumult on financial markets after Tuesday’s U.S. election.
