Banks have embraced the Federal Deposit Insurance Corp.'s swift reversals on a range of topics, but the regulatory whiplash is complicating long-term business planning.
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A midweek rally followed robust bottom-line results from JPMorgan Chase, Wells Fargo, Bank of America and several other large banks. But further interest rate cuts may be needed to sustain momentum.
January 16
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The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.
January 16
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The bank, which owns a minority stake in Viva Wallet, can take over the company in June if its valuation falls before a certain level — which has resulted in a legal dispute with Haris Karonis, the fintech's owner. That and more in American Banker's weekly global payments roundup.
January 16
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With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.
January 16
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The bank is "very optimistic" that Trump will appoint financial regulators who are "more balanced" than current agency heads, CFO Daryl Bible said.
January 16
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The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.
January 16
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The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.
January 16
The Internal Revenue Service holds a massive trove of sensitive data about American taxpayers that would be of inestimable value to a company operating in the private sector. Protecting it is a matter of national security.
Employers added 151,000 employees in February and the unemployment rate ticked up to 4.1%. The reading bolsters the Federal Reserve's argument to hold rates steady amid economic uncertainty.
Six proposals involving the purchase of a bank were terminated or rejected in 2024.
Banks have embraced the Federal Deposit Insurance Corp.'s swift reversals on a range of topics, but the regulatory whiplash is complicating long-term business planning.
Employers added 151,000 employees in February and the unemployment rate ticked up to 4.1%. The reading bolsters the Federal Reserve's argument to hold rates steady amid economic uncertainty.
Six proposals involving the purchase of a bank were terminated or rejected in 2024.
Banks have embraced the Federal Deposit Insurance Corp.'s swift reversals on a range of topics, but the regulatory whiplash is complicating long-term business planning.
A string of senior resignations and scrutiny over share sales rocked Bank of America's local operations last year.
A new survey shows banks overwhelmingly support state laws that let them pause transactions to prevent elder financial abuse, despite shortcomings.
Scambaiting, which started as a genre of YouTube content, is now a full-blown tech tactic — with support from Australia's biggest bank.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
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Theo Lau, founder of Unconventional Ventures and author of the new book Banking on Artificial Intelligence, shares a vision of how banks could help consumers navigate financial uncertainties.
May 20 - It takes $50 million to $100 million, three to five years of losses and a complete commitment from the board to make it as a banking-as-a-service bank, the CEO of Pathward bank says in the latest American Banker podcast.
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Wakefield, Massachusetts-based The Savings Bank named Raichelle Kallery as its president and CEO; Los Angeles-based Banc of California is donating $1M to launch a recovery fund in response to the wildfires devastating Southern California; Amazon agreed to acquire the Bengaluri-based fintech Axio; and more in this week's banking news roundup.
January 17
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The Consumer Financial Protection Bureau said American Honda Finance Corp. inaccurately reported 300,000 borrowers as delinquent who had paused loan payments during the pandemic.
January 17
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The firms paid $60 million to settle the claims without admitting to or denying the regulator's allegations.
January 17
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The Columbus, Ohio-based bank's profit more than doubled in the fourth quarter from a year ago, with solid growth in loans and deposits.
January 17
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Commoditization of mortgages, plus technology that eases the refinance process, and the regulatory environment, all contributed to the decision.
January 17
