Economic, regulatory, technological, and competitive pressures have drastically altered the financial services industry, particularly in businesses that touch the American consumer. An analysis by American Banker/ SourceMedia Research shows that the transformation is far from over. Based on surveys of more than 200 financial services executives, this report offers insight into what banks have done to adapt their businesses, and what theyre likely to do next.
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Hanscom Federal Credit Union in Massachusetts said it would acquire Peoples Bancorp and its insurance agency. It marked the 21st deal of the year involving a credit union buying a bank.
December 20 -
The OCC's 2024 annual report said that while the federal banking system remains stable, it faces challenges such as rising credit costs, declining net income and increasing nonperforming loans.
December 20 -
BNY announced expanded employee benefits and a boost in its minimum wage for all U.S.-based employees; Synovus has added former FIS executive Greg Montana to its executive board; National Bank Holdings sold off a fifth of its securities portfolio; and more in this week's banking news roundup.
December 20 -
The Capital One-Discover merger, the war against Visa and Mastercards' swipe fees and budding payment technologies were most popular with American Banker readers in 2024.
December 20 -
Financial institutions that build a presence on the social media platform could gain a first-mover advantage and a communications channel with potential customers, experts say.
December 20 -
The Consumer Financial Protection Bureau sued three of the largest U.S. banks for fraud perpetrated on the bank-owned payment network Zelle, alleging shoddy safeguards and millions in consumer losses.
December 20