The Chicago-based, $261 million-asset Metropolitan Capital Bank & Trust was placed in receivership and its assets sold to Detroit-based First Independence Bank, costing the Federal Deposit Insurance Corp.'s Deposit Insurance Fund an estimated $19.7 million.
At a time when banks have tokenization, stablecoin and blockchain projects in the works, senior leaders will exchange ideas at a New York conference.
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The neobank was bullish on cryptocurrency and stablecoins, which could provide tailwinds as it looks to launch new products including crypto-based lending, institutional trading, and correspondent payments and settlements via stablecoins.
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Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.
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CEO Ryan McInerney reiterated the company's long-held stance that the Credit Card Competition Act was "very harmful" and "just simply not needed."
The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit card interest rates.
The Long Island-based bank returned to profitability during the fourth quarter of 2025. The results mark "a significant milestone" in the bank's turnaround plan, CEO Joseph Otting said.
President Trump's announcement Friday morning that former investment banker and Fed Governor Kevin Warsh would be his selection as the next chairman of the Fed ends months of speculation and gives the president a key ally at the central bank.
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While they may look like a tool for reinforcing customer's connection to their banks, loyalty coalitions present serious risks if they are not constructed properly and monitored continuously.
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There are qualities in people and organizations that experts, trying to predict future performance, routinely miss. That includes internal alignment of team members around a strong corporate culture.
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The risk facing U.S. banks is not that stablecoins will suddenly siphon deposits through yield alone. It is that deposits will gradually follow utility as financial experiences improve elsewhere.
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Even with the 4 basis point rise in the 30-year fixed over the past two weeks, mortgage rates are still hovering near three-year lows, Freddie Mac said.
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The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.
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The auto lender's earnings mostly surpassed expectations in the fourth quarter, but its financial outlook was dampened by its projection of a weaker labor market in 2026.
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A world of hundreds if not thousands of stablecoins sounds chaotic – but that's because we're still thinking of stablecoins as money. Consider their potential for strengthening customer loyalty and engagement.
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American Banker has launched a new AI-powered search engine for our website.
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