Jurors determined that Aaron Luneke, the former chief financial officer of Bank of the Valley in Nebraska, obtained millions of dollars in loans — including from his own bank — by inflating contractor bills for a new car wash business.
Banco Bradesco, Brazil's second-biggest bank by market value, plans to buy more minority stakes in tech companies to accelerate its expansion in the United States.
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Crypto-linked cards are seeing strong volume growth despite offering little more than a crypto add-on to traditional payments systems — but familiarity is often a backdoor to more profound changes.
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The bank technology seller's deal with Sumitomo Mitsui Card Company is an opportunity to cash in on a government initiative to reduce cash — and comes on the heels of an earnings miss. Plus, Klarna plans to offer more credit options through a partnership with Walmart-backed OnePay, Revolut embraces agentic AI protocols and more in American Banker's global payments and fintech roundup.
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Executives surveyed by American Banker said companies vying to wrestle market share from banks are a major threat to operations in the coming year.
The second-largest U.S. bank is pushing generative artificial intelligence out to most employees while continuing to offer its more traditional AI-based Erica virtual assistant to customers, says tech executive Hari Gopalkrishnan.
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A month after Gunjan Kedia was named the company's president, the Minneapolis firm has promoted Stephen Philipson and Felicia La Forgia into new roles that will cover Kedia's former duties.
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The Kansas financial institution is using Copper Financial's Guided Investing product that matches members to predesigned portfolios that suit their risk profile.
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The latest appointment comes amid Citi's continued overhaul of its executive ranks and wealth business.
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Even with the four basis-point drop, the 30-year fixed rate mortgage remained at levels last seen in February as the Spring homebuying season reaches its climax.
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Analysts awaiting specifics on the "implicit guarantee" for Fannie Mae and Freddie Mac are split on whether mortgage rates and guarantee fees could rise.
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The regulator says its prior amicus brief, which cited the Fair Debt Collection Practices Act and sided with borrowers, was no longer valid.
A New Jersey courier scam highlights the severe liability risks consumers face when using debit cards compared to credit cards.
A highly esteemed bank policy researcher and author, Petrou was an influential voice in Washington and sharp critic of the Federal Reserve's ultra-low interest rate policy after the 2008 financial crisis.
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Reports that JPMorgan is planning to allow the use of crypto collateral against loans are good news for the crypto market. But Noelle Acheson argues that it's even better news for bank lending.
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The agency's approval of the stablecoin-focused Erebor will be the first of many applications to open new banks, many focused on nontraditional elements of the business.
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Replacing employees is expensive in terms of both time and money. The real management challenge is identifying the drivers of employee churn and eliminating them.
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The deregulatory executive order, which pairs with another targeting small players' home loan rules, impacts the FHFA, HUD and other agencies.
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CEO René Jones told American Banker that private-credit firms are both partners and competitors. "Today, one of the concerns is that we don't have that full transparency, as much as we would like. And so we have to be cautious as we move in that direction," he said.
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Penny Pennington has presided over a wide-ranging overhaul that has seen forays into alternative assets and banking but also heightened rates of advisor departures.
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The company has agreed to a 20-year lease for the entire office portion and some retail space at the 51-story property, where it's already the anchor tenant.
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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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A federal judge ruled that acting Consumer Financial Protection Bureau Director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.
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A federal judge ruled that acting Consumer Financial Protection Bureau Director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.
A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill.
The 23rd annual ranking of women leaders in the banking industry.
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