Economists and policy analysts say a prolonged disruption in the Strait of Hormuz — and uncertainty about the duration of the conflict — could drive up inflation and further weaken consumer sentiment, which could weigh on bank earnings.
The South Carolina-based bank agreed to pay more than $100 million to acquire a longtime competitor in fast-growing Hall County, Georgia.
The largest banks have increased their venture capital investments in AI startups by 21% over the past two years. They're looking to "co-shape" technology so that it meets their needs.
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Banks must plan to support decentralized finance without disturbing their existing businesses. That's easier said than done.
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The London-based Wise has scheduled its U.S. debut for May 11, while Revolut is reportedly considering a U.S. or a dual listing in New York and London. Payment experts say the moves are a chance to draw investors and raise their profile in a relatively new but huge market.
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Iran is charging tolls to cross the Strait of Hormuz, and demanding payment in crypto, which helps it both raise money and evade U.S. sanctions.
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The Treasury Department terminated the lease for the Consumer Financial Protection Bureau's Washington, D.C., headquarters; HSBC's Gerry Keefe, head of banking in Europe and the Americas, quit to take a role outside of the financial services industry; Deutsche Bank has reported potential sanctions breaches involving Russian clients to German financial regulator Bundesbank; and more in this week's banking news roundup.
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After a strong first quarter, America's second-largest bank hailed the resilience of the U.S. consumer, but also forecast rising inflation in the near future.
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Finance and education veteran Walter Rendon wants to ensure that more young people get the training and mentorships that helped him break into the field.
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The Chicago-based homeowners received a $41,000 check to pay down a portion of their existing mortgage, freeing them from the lock-in effect, DREAM product provider Takara said.
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Some litigants are "knuckleheads" but others are real threats, and well-pleaded cases can easily cost companies millions of dollars, TCPA attorney Eric Troutman said.
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Questions about the single-report option and whether VantageScore should be introduced before FICO 10T arose during a hearing on broader legislative proposals.
Autonomous large language models sometimes do things they absolutely should not, such as suddenly go off and mine cryptocurrency. Here's what AI-forward banks can do about this problem.
The Providence, Rhode Island-based bank is analyzing its 14-state branch network and plans to unveil details of a branch optimization plan by midyear, executives said.
Federal Reserve Gov. Christopher Waller said certain corporate functions at the 12 regional banks, including information technology and human resources, could be consolidated under one structure to increase standardization and reduce costs.
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Involuntary medical debt continues to impair the credit of an untold number of otherwise creditworthy Americans. Federal courts have left the door open for Congress to amend the Fair Credit Reporting Act in a way that would address the problem.
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The challenge for banks is not whether to adopt AI but how to do so with discipline, judgment and a clear understanding of its limits. The history of technology firms overpromising is extensive in the banking industry.
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The president's nominee for Fed chair should get a hearing, and there will be a lot of questions. What he isn't getting, at least right now, is a vote.
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Wells Fargo CEO Charlie Scharf said bankers and economists are broadly against lowering interest rates now, given uncertainty from the Iran war.
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The RTP rail joins FedNow and digital asset firms in the quest to add speed for cross-border settlement.
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The government's real-time rail, which had a banner year in 2025, has proposed a way for its members to access settlements for payments that include a party that's outside of the U.S. Payment experts say it removes some of the mud from cross-border real-time payments, but lingering hurdles remain.
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Federal Reserve Gov. Christopher Waller said Friday that the length of time the Strait of Hormuz remains blocked will be a key factor in the longer-term inflation outlook — and, by extension, the Federal Reserve's monetary policy path.
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The international messaging network is attempting to standardize consumers' cross-border payment experience as other payment rails such as Visa Direct, Mastercard Send and stablecoins pressure the correspondent banking system.
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Call for submissions for women 40 years and younger who are rising leaders at their bank or financial institution.
The 23rd annual ranking of women leaders in the banking industry.
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