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.
It can be difficult for financial services companies to glean customer insights from the abundance of information they have.
-
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.
-
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.
-
The company sells capital markets technology to small banks that have growing international processing needs, betting the lack of client overlap prevents a big bank/small bank competition.
-
BOK benefited from rising rates and revenue from its wealth management businesses, even as loan growth remained flat and other fee income categories declined.
-
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.
-
Wealth management assets, deposits and fee income swelled at the San Francisco bank, but interest and noninterest costs rose along with them.
-
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.
-
Amerant Mortgage includes several former bankers from City National Bank of Florida in Miami.
-
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 megabank is looking to robotics and machine learning to save time and money.
Six proposals involving the purchase of a bank were terminated or rejected in 2024.
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.
-
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.
-
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.
-
Federal regulators need to mandate full disclosure of total costs for international money transfers, including all exchange rate markups, and to allow nonbanks access to the Fed's payment system.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
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.
-
- Sponsored by S&P Global
- Sponsored by S&P Global
-











































































