U.S. commercial banks and savings banks have reduced employment by nearly 81,000 since the first quarter of 2023, including a net loss of 7,463 positions during the third quarter of this year, according to a new report from KRBA Financial Intelligence. Big banks, which have been embracing artificial intelligence, were big contributors to the decline.
Banks have gotten better at detecting digital banking fraud, but the process of closing and reopening accounts is still a mess and that is what could send more customers packing.
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The bank technology company has a payments unit but reports most of its revenue comes from sources other than transaction processing.
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Monday's market decline has sparked concerns of an economic downturn, calling attention to installment lenders that market to distressed consumers.
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The bank doubled down on promises to use legal action if the Consumer Financial Protection Bureau brings an enforcement action against it related to fraud on the Zelle platform, saying in a statement that it would "not hesitate to seek assistance from courts."
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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Northern Trust has agreed to buy Aurora Investment Management, a hedge fund portfolio manager that's owned by Natixis Global Asset Management.
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Two big Canadian banks reported quarterly results on Thursday.
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The private-banking prowess of newly acquired City National was the steadying influence Royal Bank of Canada needed amid global and domestic economic shocks in its latest quarter.
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M&T hires Aarthi Murali away from JPMorgan Chase as its customer experience chief; when a small town loses its only bank; why more banks are ditching their legacy core vendors; and more from this week’s most-read stories.
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With policymakers focused on ending Fannie Mae and Freddie Mac’s conservatorship, their regulator is reorganizing key units and adding staff to position itself for the long term.
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The city's decision to drop a lawsuit alleging predatory ending by Wells Fargo, JPMorgan Chase, Bank of America and Citigroup highlights the challenges municipalities face in taking on deep-pocketed financial institutions.
The average size of a Small Business Administration 7(a) loan has fallen to just over $400,000, a level last reached in 2017, according to agency statistics.
A new survey conducted by IntraFi found that nearly three-quarters of bank executives say a recession is here or imminent, and tariffs now rank among their top three economic concerns.
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This is no time to haphazardly pile financial regulation and additional costs on an American economy that seems otherwise set to avoid the catastrophes predicted just last year.
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U.S. financial services firms should be paying close attention to the innovative Pix Credit system that is displacing consumer credit cards in Brazil.
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A lack of affordable starter homes, increasing homelessness and stubbornly high prices for the homes that already exist have created a pickle that only careful planning and political buy-in can solve.
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A recent $450 million loan is par for the course at Beal Bank USA, which has developed a reputation for seeking out nine-figure loans backed by tangible property.
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The Montreal-based bank brought its earned media value up to $1 million by building an internal system for employees to share social posts about BMO.
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American Banker's newest ranking will recognize 50 bank executives leading innovation at their companies or in the industry at large.
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Ten teams will be honored for executing the most innovative technology projects of 2025.
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Chris Shelper is now the sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA's board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more in this week's banking news roundup.
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The megabank laid out a series of changes, including the impending departure of its chief financial officer and other executive shifts related to a revamp of its U.S. personal banking line of business.
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The payments fintech recently introduced AI agents to its lineup of products banks and credit unions can pick from and add to their existing technology stacks.
Haiqu's new encoding technique allows quantum computers to process high-dimensional financial data, showing improved performance in spotting anomalies.
The 23rd annual ranking of women leaders in the banking industry.
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