The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.
IdentityMind Global will offer Confirm.io’s remote document verification technology to its clients.
-
Experts say transaction growth is OK now, but the next year will be fraught with risk.
-
Generative artificial intelligence has usurped its traditional counterpart as the next growing technology taking the payments industry by storm.
-
Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.
From making cybersecurity a priority to enhanced biometrics, here's what's on the industry's wish list this holiday season.
-
Judy Long, president of First Citizens National Bank in Dyersburg, Tenn., launched the Smart Women financial literacy program after seeing female customers struggle with managing their finances.
-
The Ohio regional will start offering advisory services to professional athletes after it buys Franklin Street Partners.
-
Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.”
-
The expanded credit access in its automated mortgage decisioning goes into effect in mid September.
-
Small increases in commercial real estate loan volumes, particularly at midsize banks, may be indicators that the sector has weathered the worst of the pandemic. Construction loan originations, which tend to fall sharply during a recession, are leading the way.
-
Steven Schnall, the New York community development financial institution's founder and CEO, discusses its plans to let customers buy and sell bitcoin through their bank accounts, use a ring to make debit card purchases and have a better shot at a home loan.
The Pittsburgh bank has been looking for the right target to acquire at the right time. But top company executives said Tuesday that deals are likely off the table in the near term because of uncertainty about the direction of tariff policy and interest rates.
More nonbank digital asset firms are applying for national trust charters, a development that many banking organizations oppose due to what they say is inadequate oversight, lack of congressional intent and no FDIC backstop.
-
The OCC's new Vital Signs initiative gives bankers an important tool to help them assess the financial health and stability of their customers, and to help them build a strong foundation for the future.
-
The focus should be on the millions of Americans whose credit reports contain serious errors, and who are increasingly desperate for relief.
-
With the line between banks and fintechs growing ever blurrier, financial services supervisors ought to consider adjusting regulation to fit the kinds of activity an institution is engaged in.
-
Merchant groups are not taking a position on President Donald Trump's threats to cap interest rates, but they are bullish on the president's endorsement of the Credit Card Competition Act.
-
Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.
-
Community Financial in Syracuse has agreed to purchase a small bank that's built its business model around end-of-life planning.
-
Bilt's new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.
-
First Horizon's loans to mortgage companies in the fourth quarter rose at the fastest clip in more than two years, as the housing market showed small signs of revival.
-
The fintech investment firm Portage is now managing a $280 million portfolio acquired from the venture arm of Mets owner Steven Cohen's firm Point72.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
The custody bank reported a strong fourth quarter, as it continued to push forward with its new operating model. The momentum contributed to the bank's decision to lay out new financial targets, including a goal to achieve a return on tangible common equity of 28% in the next three to five years.
The $24.3 billion acquisition and $13.5 billion divestiture deal enables Global Payments to focus more on its core payments technology.
The 23rd annual ranking of women leaders in the banking industry.









































































