CEO Brian Moynihan plans to keep directing some of the bank's excess capital into new market expansions, he said Wednesday. "Organic growth is the reality," given the bank's already dominant U.S. market share, he said.
-
Shell companies, stablecoin and a Bahaman bank that took orders from a gang of fraudsters all took part in a scheme that bilked U.S. victims of millions.
June 10
-
The pending law, which has passed the Assembly and Senate, prohibits food and retail stores from refusing to accept cash payments. Cashless establishments have been prohibited in New York City since 2020.
June 10
-
Pro-crypto regulations could draw U.S. banks into the market, providing fresh competition. CEO Paolo Ardoino spoke with American Banker about the digital asset firm's strategy.
June 10
-
When a Chicago bank crashed, delivering a major blow to the Deposit Insurance Fund, regulators said they suspected fraud. Historically, that's a common story.
June 9
-
The New York City-based specialty finance company must pay $3 million as part of a settlement with the SEC for allegedly inflating its stock price. Its president must pay a separate $1 million fine.
June 9
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.
Lorie Logan, president of the Federal Reserve Bank of Dallas, said in a speech Wednesday that she is content to leave interest rates where they are, adding that she would want to see inflation fall to 2% before considering cuts.
Federal Reserve Gov. Michael Barr said Wednesday that policymakers are running the risk of repeating historical mistakes of lightening banking rules when the economy is doing well, which he said has often set the stage for financial crises later on.
Executives at the New York bank said that strategic activity has started to pick up over the last month. Morgan Stanley also reported second-quarter revenue and earnings that beat analysts' expectations.
CEO Brian Moynihan plans to keep directing some of the bank's excess capital into new market expansions, he said Wednesday. "Organic growth is the reality," given the bank's already dominant U.S. market share, he said.
Lorie Logan, president of the Federal Reserve Bank of Dallas, said in a speech Wednesday that she is content to leave interest rates where they are, adding that she would want to see inflation fall to 2% before considering cuts.
Federal Reserve Gov. Michael Barr said Wednesday that policymakers are running the risk of repeating historical mistakes of lightening banking rules when the economy is doing well, which he said has often set the stage for financial crises later on.
Executives at the New York bank said that strategic activity has started to pick up over the last month. Morgan Stanley also reported second-quarter revenue and earnings that beat analysts' expectations.
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.
- Crypto-as-a-service, stablecoins and tokenized deposits all present opportunities for banks, according to Nathan McCauley, co-founder and CEO of Anchorage Digital.Sponsored by IntraFi
-
The banks have invested in gen AI and embedded finance, respectively.
August 12
-
The Trump administration plans to stop minting the one-cent coins early next year. Here are the potential consequences that banks and credit unions should prepare for.
June 11
-
Payments greater than $1 million are favored among the Charlotte-based bank's corporate clients; the U.K.'s Financial Conduct Authority taps NVIDIA for AI testing and more in this week's global payments roundup.
June 11
-
The House Financial Services Committee passed a crypto oversight bill in a 32-19 vote, as well as several other bills bankers support, including one to curtail abusive trigger leads in mortgage lending, in a lengthy markup.
June 11
-
The Treasury secretary is being touted to lead the central bank after President Donald Trump said he would name Jerome Powell's successor "very soon." Powell's term as Fed chair ends in May 2026.
June 11
-
The government measure of inflation for May ticked up modestly, adding to the signals that the Federal Reserve is unlikely to move on interest rates when it meets next month.
June 11
