HoldCo Asset Management alleged in a court filing that Comerica's directors and Chairman and CEO Curt Farmer breached their fiduciary duties to investors, in part because negotiations for the bank's sale to Fifth Third took just 17 days.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
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The bank is working with Adyen and Stripe to improve the transaction information that feeds AI-powered payments crime fighting. Can it convince other firms to join?
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The lawsuit settlement clears a hurdle for the credit card company's deal with Capital One, which has vowed to address Discover's compliance shortcomings. A public hearing on the merger is scheduled for July 19.
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The fate of Capital One's acquisition of Discover should be determined based on its own merits and not be maligned for the foibles of other failed banks.
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Cullen/Frost Bankers will consolidate about 175 employees at a new office tower in Fort Worth, Texas, for which it will also be the anchor tenant.
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Boston Private Financial Holdings has appointed a Silicon Valley executive to its board.
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Lebenthal Holdings, the family-owned wealth management firm run by Alexandra Lebenthal, has hired former Ally Bank chief Barbara Yastine to be co-chief executive.
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The banking industry could finally have answers soon on the degree of agreement between regulators reforming the Community Reinvestment Act, how they envision CRA zones of the future and other key matters.
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A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.
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Wealthfront will add third-party mortgages to its investing platform, while Varo Money says robo advice and mortgages are in its long-term plans.
The British giant is making fintech startups its allies as it builds a virtual bank tailored to the needs "of the people at the bottom of the pyramid."
The Honolulu-based bank's board continues to recommend selling to Hope Bancorp in Los Angeles, despite a competing offer that includes a higher price tag.
House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.
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Years of consolidation have damaged competition in the banking sector. Regulators should be more, not less, restrictive about approving mergers.
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Regulators need to recognize the uniqueness and potential of cryptocurrency instead of seeking to fit crypto assets into an outdated regulatory framework.
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Widespread adoption of a central bank digital currency would utterly transform the financial services sector by reducing access to loans and raising prices for consumers.
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The Federal Reserve played a behind-the-scenes role in facilitating the sale of PacWest Bancorp, providing an enticement to private-equity interests to make a deal happen, according to agency records and recent comments by a prominent banking lawyer.
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House Financial Services Committee Chair French Hill, R-Ark., said he wants to consider a range of ideas on how to improve deposit insurance and other issues facing community banks beyond a Senate bill raising insurance for business accounts.
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The $22.7 billion-asset company may be interested in buying certain banks that HoldCo Asset Management presses to sell in the future, Chairman and CEO John Allison said. Home is planning to announce its next acquisition in December.
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The U.K.-based banking giant will add a fintech that enables it to compete with Apple Pay, while Global Payments has added Uber Eats as part of its Genius-branded point of sale rollout. Plus: Visa has advanced account-to-account payments in the U.K. and more in the global payments and fintech roundup.
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The 170-year-old Salem Five Cent Savings Bank has hired one private banker and could scale the business further if its performance matches management's expectations.
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The parent of Crosscountry Mortgage plans to use proceeds to pay down its mortgage-servicing rights line of credit as well as for general corporate expenses.
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Central Bancompany said in a presentation to investors this month that it's looking to overhaul its core technology and data systems, while also hunting for a deal.
The Consumer Financial Protection Bureau Thursday will publish a revamped version of its Section 1071 small business data collection rule, dramatically scaling back the data to be collected and the number of lenders who must comply.
The 23rd annual ranking of women leaders in the banking industry.
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