Watch American Banker's Most Powerful Women in Banking and Finance gala, which was recorded live on Oct. 4 at Cipriani Wall Street in New York City. Speakers included Bank of America's Cathy Bessant, recognized as the most powerful woman in banking, and Wells Fargo's Mary Mack, who was selected as the top woman to watch. The awards recognize the professional achievements and influence of the top-performing female executives in banking and financial services.
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The Small Business Administration is implementing a freeze on new Community Advantage lenders, citing a surge in problem loans. The program grew during the previous administration as part of a push to expand the access that entrepreneurs who are members of disadvantaged groups have to capital.
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The House of Representatives passed a joint resolution to nullify the rule finalized by the agency last and prohibiting it from implementing similar reforms in the future. It will now go to the president's desk for his signature.
May 20 -
As the Federal Deposit Insurance Corp.'s Deposit Insurance Fund inches toward replenishment, acting Chair Travis Hill suggested that banks should be assessed on a range of metrics rather than insured deposits alone.
May 20 -
Prepaid cards are finding new use cases in the hospitality industry, where tip disbursements have traditionally been cumbersome.
May 20 -
Months after OceanFirst Financial settled federal redlining allegations, it received the highest possible Community Reinvestment Act rating from the Office of the Comptroller of the Currency. CEO Christopher Maher said the bank made a "significant effort" to introduce its lending products to markets it had recently entered via acquisition.
May 20 -
A Northern California judge has ruled that Yotta must specify Synapse's role in alleged fraud, as well as details of the fraud.
May 20