BMO hired former CEO of Citi Private Bank Halé Behzadi to accelerate the bank's growth strategy in California; Pennsylvania's Linkbancorp received regulatory approval to sell its New Jersey operations to a credit union; Dream First Bank announced plans to gain branches throughout Oklahoma; and more in this week's banking news roundup.
-
The Federal Reserve lowered its policy rate but signaled a more "cautious" approach to future cuts in light of higher inflation expectations. Policy uncertainty was one of several contributing factors to that change in forecast.
December 18
-
The Federal Reserve and OCC approved the company's plan to buy Independent Bank Group in Texas, putting the deal on track to close early next year as expected. In an atmosphere of M&A delays for banks, the deal is on a relatively smooth path.
December 18
-
Morgan Stanley and ABN Amro tapped fintechs to improve cross-border transactions. That and a U.K. card fee cap highlight this week's roundup of payments news.
December 18
-
As the Biden administration comes to a close, the agency called out "bait-and-switch tactics" by card issuers. It also announced a new tool allowing consumers to comparison shop for credit cards.
December 18
-
This year, American Banker reporters dove deep into topics such as gambling addiction, Citigroup's rebuild, the Small Business Administration, fraud and monetary policy for its feature articles. Check out the most consequential articles of the year.
December 18
-
When combined, the top five states have roughly 23.9 million households classified as unbanked according to the Federal Deposit Insurance Corp.
December 18
-
The Federal Deposit Insurance Corp. is considering suing former Silicon Valley Bank executives over risk management decisions, imprudent dividends and billions in losses that fueled a banking crisis in 2023.
December 18
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.
Places to work at the 7 Times Square location "will be available on a daily first-come, first-serve basis," the Office of the Comptroller of the Currency told employees who supervise major U.S. banks.
The midyear fee hike was necessary to reverse a revenue shortfall in the agency's 7(a) program, according to Administrator Kelly Loeffler.
A group of states are pursuing similar efforts to cap credit card interchange fees, endangering rewards programs that customers value and raising concerns about an illegal interstate compact.
Places to work at the 7 Times Square location "will be available on a daily first-come, first-serve basis," the Office of the Comptroller of the Currency told employees who supervise major U.S. banks.
The midyear fee hike was necessary to reverse a revenue shortfall in the agency's 7(a) program, according to Administrator Kelly Loeffler.
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.
-
The banks have invested in gen AI and embedded finance, respectively.
August 12 -
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
-
Bank of America must overhaul anti-money-laundering protocols and hire third-party consultants, but will not face growth limits, following OCC action for compliance deficiencies.
December 23
-
Releasing the GSEs from government conservatorship is on the agenda for the incoming Trump administration. Doing so could threaten the 30-year fixed rate mortgage.
December 23
-
Economists say the U.S. economy is leaving 2024 healthy, with unemployment low, inflation manageable and growth robust. Unknown variables — including the depth and scope of President-elect Donald Trump's immigration and tariff policies — could change that course, but likely not until 2026.
December 23
-
Hanscom Federal Credit Union in Massachusetts said it would acquire Peoples Bancorp and its insurance agency. It marked the 21st deal of the year involving a credit union buying a bank.
December 20
-
The OCC's 2024 annual report said that while the federal banking system remains stable, it faces challenges such as rising credit costs, declining net income and increasing nonperforming loans.
December 20
