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Hood, who chaired the National Credit Union Administration from 2019 until 2021, has been selected by Treasury Secretary Scott Bessent to serve as acting comptroller of the currency. Hood replaces acting OCC head Michael Hsu, who has led the agency since 2021.
February 7 -
Representatives of the first nonbranch team at the bank to unionize alleged in a charge filed with the National Labor Relations Board that actions to stymie collective bargaining constitute unfair labor practices.
February 7 -
Titi Cole, a former executive at Citigroup, is now on the company's board of directors; Citizens Financial Group has formed a trust subsidiary as part of its wealth management and private bank expansion efforts; shareholders of Atlantic Union Bankshares and Sandy Spring Bancorp approved the two companies' planned merger; and more in this week's banking news roundup.
February 7 -
Banks are expecting increased M&A activity across the financial sector, but are concerned about acquisition by credit unions and tech integration challenges.
February 7 -
The Columbus, Ohio-based bank has unveiled a product that lets adults who need help managing their finances and guarding against fraud give limited account access to someone they trust.
February 7
Growing loans was a tall order in 2024, but banks that could do just that were able to outperform their peers.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
Seven of the 20 top-performing banks with $2 billion to $10 billion of assets last year were based in Texas. But it's not about being bigger.
The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.
The results helped Citigroup lift its return on tangible common equity to 9.1% in the first quarter. CEO Jane Fraser has set a target of 10%-11% by the end of next year.
A string of senior resignations and scrutiny over share sales rocked Bank of America's local operations last year.
The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.
The results helped Citigroup lift its return on tangible common equity to 9.1% in the first quarter. CEO Jane Fraser has set a target of 10%-11% by the end of next year.
A string of senior resignations and scrutiny over share sales rocked Bank of America's local operations last year.
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.

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John Buran shares how his New York bank and its small business customers are faring with tariff uncertainty — and how some have quickly changed suppliers and modified business plans — in the latest American Banker podcast.
July 15 -
Staking activities and stablecoins are two of the possible ways banks could have a role in decentralized finance, said Margaret Butler, head of the financial services practice at the law firm BakerHostetler and Kristiane Koontz, director of Treasury Services and Payments at Zions Bank, in interviews recorded at the Digital Banking Conference in June.
July 1
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Employers added fewer workers than anticipated last month, but upward revisions to previous estimates drove down the jobless rate. The report gives no clear directive to the Federal Reserve, which put rate cuts on hold last month.
February 7 -
Payment records are off-limits to all Elon Musk-affiliated "special government employees" except for Tom Krause and Marko Elez, and they are restricted to read-only access.
February 7 -
More state legislatures are exploring how to regulate earned wage access products, and interest rate caps are central to that discussion. New York state's pending legislation is taking a novel approach.
February 7 -
Until last month, Altadena was a flourishing melting pot. Now, with thousands of houses burned and no functioning banks, residents wonder if it will ever be the same.
February 7 -
President Donald Trump huddled with Republican lawmakers on Thursday and discussed ending some of the biggest tax provisions that impact Wall Street.
February 6