Richmond, Virginia-based Atlantic Union Bankshares has sold $2 billion in performing commercial real estate loans to Blackstone Real Estate Debt Strategies.
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Months after OceanFirst Financial settled federal redlining allegations, it received the highest possible Community Reinvestment Act rating from the Office of the Comptroller of the Currency. CEO Christopher Maher said the bank made a "significant effort" to introduce its lending products to markets it had recently entered via acquisition.
May 20
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A Northern California judge has ruled that Yotta must specify Synapse's role in alleged fraud, as well as details of the fraud.
May 20
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The Senate's version of a stablecoin regulation bill cleared a key procedural hurdle as the Senate voted 66-32 to invoke cloture on the legislation. A final vote on the Senate floor is expected within weeks.
May 20
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The Wall Street bank turned an idea from its Eaton Vance acquisition into a time-saving automation for responding to regulators' requests.
May 20
Big banks with the strongest financial performance varied in asset size, geographies and services.
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
Truist Financial is bulking up its commercial and corporate banking arm by hiring senior executives from rival firms and promoting from within; F.N.B. Corp launches a $46 million-dollar community development program focused on Main Street revitalization; buy now/pay later lender Affirm extends its partnership with Moore Capital through May 2027; and more in this week's banking news roundup.
Arizona Financial Credit Union cuts exception resolution time by 80%
The Florida man admitted to opening over 100 fake TD Bank accounts in exchange for bribes, leading to $72,000 in fraud losses at the bank.
Richmond, Virginia-based Atlantic Union Bankshares has sold $2 billion in performing commercial real estate loans to Blackstone Real Estate Debt Strategies.
Truist Financial is bulking up its commercial and corporate banking arm by hiring senior executives from rival firms and promoting from within; F.N.B. Corp launches a $46 million-dollar community development program focused on Main Street revitalization; buy now/pay later lender Affirm extends its partnership with Moore Capital through May 2027; and more in this week's banking news roundup.
Arizona Financial Credit Union cuts exception resolution time by 80%
The Florida man admitted to opening over 100 fake TD Bank accounts in exchange for bribes, leading to $72,000 in fraud losses at the bank.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
The CEO of First Northwest Bancorp is promising to fight a lawsuit claiming the lender helped a client perpetrate a Ponzi scheme that bilked a hedge fund out of more than $100 million.
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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The banks have invested in gen AI and embedded finance, respectively.
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John Buran shares how his New York bank and its small business customers are faring with tariff uncertainty — and how some have quickly changed suppliers and modified business plans — in the latest American Banker podcast.
July 15
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The president said Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick "will be sending letters out essentially telling people" what "they'll be paying to do business in the United States."
May 16
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After a drop in fintech venture capital exit value from IPOs, neobanks and other financial tech startups are closely watching Chime's initial public offering.
May 16
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The next generation of artificial intelligence can be a digitized always-on personal shopper, researcher and financial assistant, taking even the buzz of ChatGPT to another level. It's early in the game, but developers are looking for ways to gain an edge.
May 15
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The Ohio-based bank is launching services for middle-market companies across the new footprint, after making similar plays in the Carolinas and Texas.
May 15
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Banks scored well in the tax bill out of Ways and Means this week, with wins on S Corps and rural lending, but have so far lost out on credit union taxes and additional burdens on payments competitors.
May 15
