Huntington Bancshares and U.S. Bancorp also said in recent days that they are eliminating jobs to reduce overhead and improve profits. With net interest margins shrinking and branch traffic continuing to decline, expect more banks to follow suit, analysts say.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
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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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Recurring payments for stuff like streaming content can get lost in the shuffle, creating an opportunity for the big card brands.
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Will Artingstall, global head of digital asset payments and ecommerce solutions within Citi's Services business, sat down with American Banker to discuss the firm's banking-as-a-service business and how it fits into its larger corporate payments strategy.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Goldman Sachs Chief Legal Officer Kathryn Ruemmler received an 11% pay hike last year, bringing her total compensation to $25 million; U.S. Bank promoted Toby Clements to chief operations officer; Klarna is expanding its forward-flow and whole-loan sale deal with Elliot Investment Management to $2 billion; and more in this week's banking news roundup.
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The Apollo Group, a six-person team in New York, is the latest to show that former First Republic advisors are still not completely settled at JPMorgan.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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While San Francisco had the biggest improvement in affordability for prices today versus 2019, Hartford remains in a very deep freeze, First American said.
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Home prices increased 0.9% year-over-year and 0.1% month-over-month in January, according to the S&P Cotality Case-Shiller national home price index.
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Stock prices jumped notably following the billionaire and legacy GSE investor's comment indicating Fannie and Freddie have been "stupidly cheap."
With 23 collection agencies working on the U.S. Department of Education's student loan collection contract, and the overall market for higher education debt booming, at least one private equity giant is considering whether to acquire collection agencies involved in the growing niche.
Federal Reserve Vice Chair Michelle Bowman said the Fed's proposed capital framework will inject up to $100 billion into the economy to support small-business loans.
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A former federal housing regulator warns that U.S. banks are not engaging with the real and growing risks that climate change is creating in their existing mortgage portfolios. The consequences of inaction could be punishing.
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Unionization efforts at several Wells Fargo locations go in reverse, while the buzzy blockchain stuff overshadows the plain fact that customers want products that help them rather than gee-whiz technology.
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Despite headlines threatening massive AI-driven disruption of the industry, legacy financial institutions with vast troves of customer data are actually very well positioned to reap the benefits of AI — if they understand how.
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More write-downs seem inevitable as the coronavirus outbreak wreaks havoc on the economy and bank stocks.
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Mastercard is adding to its global network of innovation labs by partnering with Enel X, a mobility and smart-city startup, to open a center in the Israeli fintech hub of Be'er Sheva.
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Cross River Bank, a banking-as-a-service provider to fintechs, has signed Remitly to leverage its new push-to-card international payment service for near-real-time remittances.
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Incoming chief Frank Bisignano downplays any pressure to find $1.2 billion in cost cuts promised to shareholders from the acquisition of First Data. Instead he emphasized his track record of producing revenue growth and pledged to keep funding innovation projects.
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The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.
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As credit card chargebacks accumulate during the coronavirus crisis from consumers seeking reimbursement for canceled trips and events, PayPal is extending an olive branch to merchants.
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The Illinois-based credit union, which recently announced an expanded field of membership, saw loans rise by nearly 7% in 2018.
JPMorgan Chase's banner quarter didn't stop executives from warning that the pause in rate hikes could crimp profits, or from hinting that the bank might downsize its mammoth mortgage operation.
The 23rd annual ranking of women leaders in the banking industry.
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