In a new legislative package offered Wednesday, House lawmakers halved the deposit insurance limit offered in earlier deposit insurance reform bills coming from the Senate.
As part of its U.S. market strategy, the U.K.-based neobank is offering New York City commuters cashback on public transit fares when they open a new account.
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Noelle Acheson argues that stablecoins can help community banks deepen relationships with their customers, help them explore new forms of capital formation and strengthen their own exposure to risk.
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In this week's American Banker global payments and fintech roundup, Revolut, Tether and Circle made announcements designed to improve their standing in the stablecoin market. That comes amid new research from McKinsey that says the digital asset is growing quickly, but has not made even a small dent in payments.
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There's speculation about a potential deal, which could boost Stripe's merchant appeal and accelerate its agentic commerce strategy. But payment experts also say Stripe could face a bidding war that includes AI companies.
The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.
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Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Research from Andrew Davidson claims a significant number of mortgage borrowers would have a wide variance in credit score if less than three pulls are used.
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Some observers say changes to MSR risk-weighting would have limited near-term impact and are unlikely to prompt banks to rush back.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Monday morning that the central bank will introduce two capital proposals that she said are aimed at boosting banks' role in the mortgage market.
The financial advisory firm initially sought an industrial loan charter back in 2020. It's the third company to receive the necessary approvals this year, joining General Motors and Ford.
The Federal Reserve's recently published request for information on options for updating its check clearing apparatus has bankers fearing that it will opt to phase out paper checks entirely — an outcome that has community banks panicked.
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The "exorbitant privilege" the U.S. has long enjoyed because of the dollar's status as the world's reserve currency would be supercharged if global adoption of stablecoins leads to greatly increased demand.
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Two large proxy advisory firms exert extraordinary and pernicious influence on public companies in the U.S. Congress must act to protect American businesses and the investors whose future relies on them.
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It won't be long before bank customers can ask an AI agent to optimize their returns on idle cash. When it happens, banks' net interest income is going to come under direct threat.
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Diligence Capital Management is pushing the beleaguered bank to add directors with bank turnaround experience. Eagle has been searching for a new CEO after getting battered from losses tied to its commercial real estate portfolio.
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Cambridge Savings Bank has been stockpiling capital. Now its CEO says it's willing to part with a portion of that stash if the right opportunity presents itself.
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A federal judge said Friday that the Trump Organization will have three months to collect new evidence and refile its complaint. It alleges that Capital One illegally closed hundreds of its accounts following the Jan. 6, 2021, attacks on the U.S. Capitol.
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The new executive order could add lender competition for self-employed borrowers, potentially via a small loan carveout and one for portfolio products.
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There were an estimated 630,000, or 46.3%, more home sellers than buyers in the United States in February, according to a Redfin report.
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Huntington is among the banks investing in technology that embeds payments and financial services into nonfinancial functions — a move designed to counter the encroachment of digital wallets and fintechs.
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A federal judge said Friday that the Trump Organization will have three months to collect new evidence and refile its complaint. It alleges that Capital One illegally closed hundreds of its accounts following the Jan. 6, 2021, attacks on the U.S. Capitol.
The new executive order could add lender competition for self-employed borrowers, potentially via a small loan carveout and one for portfolio products.
The 23rd annual ranking of women leaders in the banking industry.
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Partner Insights from UiPath - Partner Insights from Infosys
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Sponsored by Akoya - Partner Insights from Fireblocks
