Cincinnati-based First Financial scooped up Westfield Bank near Cleveland after Westfield's parent company decided to exit the bank space and focus on its core insurance business.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
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In global news this week, U.K. regulators examine branch closures, Apple complies with Dutch App Store rules, a pan-Nordic payments system prepares for launch, and more.
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It's late in the game to get involved in cannabis payments, which is why Golden Ark is looking past physical dispensaries to stake its claim in the virtual world.
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Pay Monthly loans will have payment plans of up to 24 months, enabling consumers to make larger purchases and repay over a longer period of time than the standard four months.
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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Socially responsible investment funds outperformed their benchmarks last year in almost all asset classes.
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After completing its $13.5 billion purchase of Barclays Global Investors, which closed in December, BlackRock more than doubled its assets under management, to $3.3 trillion, from $1.3 trillion a year earlier and became the industry's largest money manager as measured by assets.
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The engineers on Arjun Sirrah's team are on a first-name basis with customer service staff. Those relationships help Darien Rowayton Bank's student lending arm competes with fintech companies.
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Several civil rights and community development groups wrote Tuesday to urge the Federal Housing Finance Agency to recapitalize Fannie Mae and Freddie Mac.
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WASHINGTON The Federal Housing Finance Agency is set to make the sales of nonperforming loans by Fannie Mae and Freddie Mac more transparent, including providing information on trends at the individual pool level, according to a top agency official.
Revenue from fixed-income, currencies and commodities trading unexpectedly rose 4% to $4.5 billion in the first quarter, as clients reacted to changing interest rates, the company says. Net income rose 7% to $4.6 billion.
Financial institutions' fintech partnerships are facing higher levels of scrutiny. More consistent and direct monitoring of their partners can put them in a better position.
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Rodney Hood, chairman of the National Credit Union Administration, says the agency's Central Liquidity Facility can be a vital backstop if a crisis occurs, but it will be stronger if more credit unions chip in to make it a success.
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Think about all the people who started depositing their paper checks through a mobile app. Who tried that out and then thought, “Gee, I really preferred driving 15 minutes to the bank and waiting in a line”?
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Whether presented at the teller line or through digital channels, the best way to prevent fraud is by triangulating items in real-time against a robust fraud database. To strengthen the database, fraud data needs to be contributed in return, says Advance Fraud Solutions' Ted Kirk.
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The credit bureau is working with Plaid to provide lenders with current and predictive cash-flow data for consumers that don't have an extensive credit record.
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The Consumer Financial Protection Bureau is restricting its civil penalty fund from paying for consumer education and financial literacy programs.
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The bank's investors hope to see the small community bank in Utah transform and grow into "a minority-owned version of Ally," as board chair Ashley Bell put it.
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Federal Reserve Chair Jerome Powell said the changes could touch the central bank's quarterly economic forecasts. He also discussed downsizing at the Fed and his tenure on the board of governors.
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Both regional banks operate health savings account businesses, which could gain more customers, more fee revenue and more low-cost deposits if Congress includes a major HSA expansion in its final budget reconciliation bill.
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Bill Pulte's social media posts saying inflation has fallen far enough added to intensified political pressure on the independent Federal Reserve chairman.
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In a letter to the Office of the Comptroller of the Currency, the American Bankers Association rebuffed state regulators' calls to rescind the agency's broad state preemption rule, defending federal law's supremacy in the dual banking system.
Umar Farooq and Max Neukirchen lead an $18 billion unit that touches most of the planet. Here's what they told American Banker about instant processing, how artificial intelligence is affecting jobs and what they look for in new leaders.
The 23rd annual ranking of women leaders in the banking industry.
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