The largest bank in the country bulked up its reserves by $2.2 billion for potential credit hits from the Apple card portfolio, which JPMorgan is taking over from Goldman Sachs.
Artificial intelligence will reshape the job landscape at banks; people still want to open accounts at a branch; Mick Mulvaney stacks CFPB bench with political appointees; and more from this week's most-read stories.
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The industry's top leaders, including The Most Influential Women in Payments, will be on hand to discuss innovation, compliance, risk, crypto and more.
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The Trump administration's orders to stop supervisory exams at the Consumer Financial Protection Bureau are seen as a potential conflict of interest for Elon Musk, whose company X would have been overseen by the bureau when it launches its payments wallet.
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The amended language in the bank's terms and conditions will halt payments to social media sellers. It comes as banks on the P2P app face increased political pressure to step in and stop payments to scammers on the platform.
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A Swiss financier has agreed to buy Brickell Bank a year after another sale fell through.
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BOK benefited from rising rates and revenue from its wealth management businesses, even as loan growth remained flat and other fee income categories declined.
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The new tax law took a one-time bite out of fourth-quarter results, but higher rates strengthened yields and new business boosted fee income.
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The company is exploring a range of options to diversify its balance sheet, but new CEO Thomas Cangemi says the best plan of attack is to merge with or acquire another institution.
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Amerant Mortgage includes several former bankers from City National Bank of Florida in Miami.
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The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending.
The neobank Compte-Nickel has opened more than 540,000 accounts since its launch three years ago.
First Busey finalized its acquisition of CrossFirst Bankshares; American Express agreed to buy expense management firm Center; Valley National Bank appointed a new president of commercial banking and a new CFO; and more in this week's banking news roundup.
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.
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The Securities and Exchange Commission has asked a judge to impose a penalty on Ripple that roughly matches the amount of profit the agency estimates Ripple and its leaders made from sales of XRP, which the SEC says are unregistered securities.
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Many assumed the advent of cryptocurrencies heralded a revolution in finance. The truth may be that crypto's overall impact on the financial services industry is more evolutionary than revolutionary.
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The populist backlash from the Great Financial Crisis turned the financial regulatory world upside down. Fifteen years later, that populist force is still informing how people vote, how financial regulation is crafted and how regulators see themselves.
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Employers added 50,000 jobs in December, with gains in service industries while broader sectors remained mostly flat, supporting the Fed's cautious stance on further rate cuts.
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President Trump's concept, which is framed as a potential bipartisan effort, could mean a new route to a goal Dems targeted via foreclosure sale restrictions.
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The proposed rule codifies the ability for trust companies to conduct non-fiduciary activities, something banks say Congress never intended, but that OCC says has long been the case.
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The Federal Reserve will resume accepting pennies from banks and credit unions at all commercial coin distribution locations beginning Jan. 14. The central bank had ceased accepting pennies at some distribution centers late last year, but bankers praised Thursday's reversal.
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Banking experts say World Liberty Trust's application for a trust charter with a regulatory body directed by the White House creates inherent conflicts of interest, while the Office of the Comptroller of the Currency said the application will be considered on its merits.
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The bank fired a manager for originating suspicious loans but later asked the SBA to forgive them, prosecutors say. The case ended in a $7.7 million settlement.
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First Federal Bank stretched its retail mortgage operations into Louisiana and Mississippi, following its expansion into the Midwest and Arizona in 2023.
The bank's Kinexys blockchain unit processes a fraction of the institution's overall payment volume. It's betting that an appetite for the technology's promise of speedy processing and liquidity will make that larger.
The 23rd annual ranking of women leaders in the banking industry.
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