"There were four layers between me and the senior managers of the products and like 14 layers across the organization, which is too much for an organization that needs to be agile," David Velez said.
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GetAugie targets consumers new to credit, undercutting mainstream banks' secured cards that often charge an annual fee and carry hefty annual percentage rates.
March 14
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A Maryland judge temporarily halted mass layoffs of probationary employees at multiple agencies, citing legal violations and harm to states' ability to respond to unemployment needs.
March 14
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Retired banker Brad Schwartz is set to join First National as finance chief; Bar Harbor Bankshares agrees to acquire Guaranty Bancorp; CDFI Friendly America reveals new data on lending; and more in this week's banking news roundup.
March 14
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Prometeo aims to make business-to-business payments and remittances between the U.S. and Latin America easier and cheaper.
March 14
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A federal judge in Maryland ruled against the City of Baltimore's attempt to block cuts to Consumer Financial Protection Bureau program funding on procedural grounds.
March 14
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Bankers' surveys of commercial clients have found that corporate decision-makers are less concerned about adverse tariff effects than nervous investors.
March 14
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Thirty-eight TD Bank locations and 24 Flagstar branches are set to shut down. Both banks are coming out of tumultuous periods.
March 14
Upgrading its anti-money-laundering controls is the Canadian bank's top priority following historic failures that led to a $3.1 billion penalty and a U.S. asset cap.
"There were four layers between me and the senior managers of the products and like 14 layers across the organization, which is too much for an organization that needs to be agile," David Velez said.
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.
The bank's LLM Suite, a portal through which all employees can use popular large language models, is American Banker's Innovation of the Year in the Generative AI category.
Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels.
"There were four layers between me and the senior managers of the products and like 14 layers across the organization, which is too much for an organization that needs to be agile," David Velez said.
The bank's LLM Suite, a portal through which all employees can use popular large language models, is American Banker's Innovation of the Year in the Generative AI category.
Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels.
Alan Childs pleaded guilty to using straw borrowers and falsified loan records to help a timber businessman secure millions in fraudulent loans.
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.
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.
- Richard Cordray, the first director of the Consumer Financial Protection Bureau, says the Trump administration seems intent on shutting the agency down, even though it has a legal mandate to exist.Sponsored by IntraFi
- 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
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Both consumers and banks reported that the rate of fraud and scams has steadied, according to Fincen and FTC data, but the total cost continued rising.
March 13
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A much-anticipated stablecoin bill advanced to the full Senate in an 18-6 vote, giving it a promising path to pass with 60 votes. But amendments banks favored were shut out of the markup.
March 13
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The software helps identify and investigate crime, then writes a recommendation.
March 13
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New guidance from the Office of Personnel Management states that unions' collective bargaining agreements cannot interfere with mass layoffs carried out by federal agencies.
March 13
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Dodig, who has led the Canadian bank since 2014, will be succeeded by Harry Culham, CIBC's head of capital markets.
March 13
