BMO Harris Bank launches cardless ATMs
BMO Harris Bank, the Chicago area's second-biggest bank by deposits, on Monday will announce that 750 of its ATMs, including about 400 in the Chicago area, will give consumers the...
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Chicago-area banks opened the vaults as business lending grew in 2014
Last year, growth in business lending soared at Chicago-area banks, providing a much-needed jolt to a sluggish economic recovery. Balances of commercial and industrial loans, commonly called business loans, rose...
Northern Trust, Discover hike dividends, announce stock buybacks
Two major financial services companies in the Chicago area said Wednesday they were hiking their dividends and initiating stock buybacks after passing "stress tests" given by the Federal Reserve. Discover...
Northern Trust CEO, COO pay rises in 2014
Northern Trust Chief Executive Officer Rick Waddell earned $9.9 million in cash and stock last year, up 4 percent from what the Chicago-based financial services firm paid him in 2013....
Apple Pay buzz not swaying consumers, poll shows
Buzz around Apple Pay is doing little to boost consumer interest in using smartphones to buy goods and services, a new poll shows. Almost two-thirds, or 64 percent, of Americans...
Ex-McDonald’s CEO Thompson named to Northern Trust board
Don Thompson, who recently retired as chief executive of struggling McDonald's, has joined the board of directors of Chicago-based financial services provider Northern Trust. "He brings deep management and board...
Chicago money manager agrees to stop selling securities, repay investors
A Chicago money manager who courted theatergoers by promising to double their money has agreed to repay investors, stop selling securities and refrain from guaranteeing a 100 percent return on...
FDIC seeks $6.6M from former leaders of failed New City Bank
The Federal Deposit Insurance Corp. said the 2012 failure of Chicago's New City Bank has resulted in at least $6.6 million in losses for the financial regulator. On Friday, the...
Jerry Reinsdorf, 17 other Illinoisans — and a guy named Jordan — on Forbes list
Forbes' 2015 list of the world's richest people contains two new names linked to the Chicago Bulls: NBA Hall of Famer Michael Jordan and Jerry Reinsdorf, team chairman. Reinsdorf, also...
Energy efficiency better path to savings than competition, watchdog says
Energy efficiency programs have surpassed electric competition as the best way for consumers to save money, according to the Citizens Utility Board. The board, created by the Illinois legislature to...