BankThink
Artificial intelligence tools will certainly change the way the banking industry operates, but they won't eliminate the need to build your business on a firm foundation of care for employees, customers and shareholders.
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Working at Federal Reserve headquarters on Sept. 11, Roger Ferguson knew he had to act quickly. But he was the only senior Fed leader in the country that morning.
September 10
Federal Reserve Board -
Elizabeth McCaul was in Japan on the morning of Sept. 11. Which gave her one advantage: she had a working phone.
September 10
New York State -
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Donald Powell was sworn in as chair of the FDIC just two weeks before the Sept. 11 attacks. Settling into the role was not going to be an option.
September 10
Federal Deposit Insurance Corporation -
An agent that takes an unexpected action in the service of achieving its assigned goal can create vulnerabilities that may be difficult to spot in real time. These problems can compound if the agent continues to act within a bank's systems.
September 10
North Carolina-based First Citizens BancShares completes its acquisition of 138 branches across 11 states; City National Bank appoints Chad Lloyd senior vice president and head of RBC U.S. Mortgage; London-based payments processor Checkout.com launches its U.S. subsidiary in Georgia; and more in this week's banking news roundup.
A consortium of international FIs are planning to issue a U.S. stablecoin in early 2027; London-based OpenPayd has entered the U.S. through its acquisition of MSB USA; the U.K. fined Citi £4.7 million ($6.3 million) for hundreds of transactions in breach of sanctions against Russia; and more in this week's banking news roundup.
Some midsize firms joined three giants of the industry in surpassing their peers among independent brokerages, in terms of the percentage increase in their average payouts per financial advisor last year.
The largest firm in the independent brokerage channel is also the fastest growing. But the industry's rapid expansion alongside rising equity values over the past three years may be hiding some firms' vulnerabilities.
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