After a long price correction in the art market, Bank of America is expanding its advisory services for collectors — and it's not alone.
With the U.S. military in mind, the Texas banking product provider's CEO, Gabe Krajicek, created a corporate culture where employees name themselves after the legendary warriors and operate under a mission to "win the war."
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The appointment ends a seven-month search for a permanent CEO. Milotich was named interim CEO in February following the resignation of former CEO and director Simon Khalaf.
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There is conclusive evidence that stablecoin adoption does not lead to deposit runoff at community banks. This should give bankers the confidence to grow their businesses by offering stablecoin-related services.
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The Canadian institution plans a U.S. tokenized deposit, contending that it can help banks keep and grow deposits amid threats from fintech-issued cryptocurrency. Founder and President David Taylor is encouraging others to do the same.
It's still too soon to say exactly how the use of advanced artificial intelligence will be restricted in financial services, but banks are developing strategies mindful of potential policies.
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The Credit Union Cherry Blossom Run, the industry's biggest annual philanthropic event, saw a nearly 10% increase in giving this year despite being canceled.
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Lenders are struggling to deploy deposits into interest-earning assets, and changes to post-secondary education may further limit these options.
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CIT inherited the business with its purchase earlier this year of Mutual of Omaha Bank.
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Overall rate locks dropped 1.5% on a month-to-month basis; the drop in purchase volume was higher at 1.9%, Black Knight said.
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The storm is slamming housing markets already beset by some of the nation's highest property insurance premiums.
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Both purchases and refinance volumes climbed higher, as interest rates flattened following earlier volatility, according to the Mortgage Bankers Association.
The giant custody bank plans to offer specialized instruction in cybersecurity, AI and other topics to 1,000 community bank executives.
As federal watchdogs step back from regulating "Buy Now, Pay Later" loans, state authorities are stepping in. This week, the attorneys general from California and several other blue states joined the fight.
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The financial services industry has made positive gains in consumer trust in recent years. As we enter what seems likely to be an era of deregulation, that newfound trust is theirs to lose.
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Small businesses and consumers deserve the relief that legislation like the Credit Card Competition Act would bring from the fees that burden every card-based transaction. Banks can easily afford it.
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Past efforts to restructure bank supervision have been derailed by politics and agency turf wars. It remains to be seen whether the Trump administration is willing to spend the political capital necessary to push reform through.
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Banc of California appoints Chris Healy its new executive director and head of payments; Lia Fordjour is named chief financial officer of the American Bankers Association; Airwallex is the latest fintech to lean on sports sponsorships; and more in this week's banking news roundup.
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Shares of the neobank plummeted nearly 30% Thursday despite posting revenue over $1 billion as investors balked at up-front loan provision expenses that come with the expansion of Klarna's longer-term installment loans.
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The relevant Florida statute does not permit President Donald Trump's allegation that JPMorganChase CEO Jamie Dimon directed the bank to put Trump and his businesses on a "blacklist," the bank said in a legal filing.
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The Supreme Court Friday issued a 6-3 ruling that held that a law granting the White House economic emergency powers does not include the power to tax imports.
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In a blow to the President's economic agenda, the high court said the trade barriers could not stand.
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The Buffalo-based bank didn't specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will "vigorously defend itself" against claims by investors who allege that it should have protected them from alleged fraud.
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Lenders with between $10 billion and $100 billion of assets grew their core deposits by more than 8% last year, or more than double the industry-wide average. Merger activity was largely responsible for the outsized growth.
The Olympics are boosting spending in Italy, large-in-part thanks to Americans. In the U.K., Barclays is reportedly leading a meeting to seek support for an existing project. The meeting comes against the backdrop of geopolitical concerns and the dominance of American-based payment firms.
The 23rd annual ranking of women leaders in the banking industry.









































































