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It was the largest U.S. transaction ever to instantly settle, following The Clearing House's new transaction ceiling that went into effect Sunday.
February 10
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The Ontario-based lender announced a partnership that represents the first dividend from its recent acquisition of a Minnesota-based community bank.
February 10
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A federal appeals court in Texas has delayed the implementation of the Consumer Financial Protection Bureau's small-business data reporting rule slated to go into effect in July. How the Trump administration proceeds from here could be instructive on its approach to other CFPB rules.
February 10
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The digital banking software provider recently received $160 million in funding and hopes to grow its bank client list as it upgrades product offerings.
February 10
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The Canadian bank plans to exit its 10.1% interest in the brokerage firm, allowing it to shore up capital and strategically shrink to adhere to penalties related to its historic compliance failures.
February 10
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McKernan, a member of the Federal Deposit Insurance Corp.'s board of directors, offered measured resistance to Biden-era bank regulation and led on a number of issues including cracking down on the influence of asset managers who hold stakes in FDIC-insured banks.
February 10
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Acting Consumer Financial Protection Bureau Director Russell Vought ordered bureau employees to "stand down" and perform no work, effective immediately.
February 10
Generative artificial intelligence has usurped its traditional counterpart as the next growing technology taking the payments industry by storm.
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.
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.
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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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
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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
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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
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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
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The buy now/pay later lender outperformed nearly every analyst estimate in its fiscal second-quarter earnings report. CEO Max Levchin said the company is five months out from positive GAAP operating income.
February 7
