Banks that are financing the rise of nonbank competitors have been losing market share in commercial lending. But by getting in on the action, the same banks are also seeing some payoff.
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CEO Stephen Squeri said current strategy will continue, adding it would look to adjust expenses in areas such as marketing if there's an economic downturn.
April 17
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The super-regional bank cited "a material slowdown" in investment banking and trading income as one reason for the lower revenue forecast. Interest rates are also a factor, executives said.
April 17
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Companies are planning to spend more on technology and artificial intelligence in 2025 when compared to last year, and AI is a choice area for investments.
April 17
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Anna Paulson, executive vice president and director of research at the Federal Reserve Bank of Chicago, will replace outgoing Philadelphia Fed President Patrick Harker.
April 17
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In a post on his social media platform Thursday morning, the president criticized the Federal Reserve's reluctance to lower rates and said the chair's departure "could not come soon enough."
April 17
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The top five banks and thrifts have combined deposits of more than $7.5 trillion in Q4 of 2024.
April 17
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An internal Consumer Financial Protection Bureau memo says the agency will shift enforcement and supervisory work to the states and cease oversight of all nonbanks and Big Tech firms.
April 17
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.
The Senate voted to confirm Federal Reserve Gov. Michelle Bowman's nomination to be the vice chair for supervision at the central bank in a 48-46 party-line vote.
The first-of-its-kind growth restriction established a new precedent for how regulators can address a broken bank culture. With scant information about why the cap was lifted, the action provides little clarity on what Wells did right — or what the Fed did wrong.
Banks that are financing the rise of nonbank competitors have been losing market share in commercial lending. But by getting in on the action, the same banks are also seeing some payoff.
The Senate voted to confirm Federal Reserve Gov. Michelle Bowman's nomination to be the vice chair for supervision at the central bank in a 48-46 party-line vote.
The first-of-its-kind growth restriction established a new precedent for how regulators can address a broken bank culture. With scant information about why the cap was lifted, the action provides little clarity on what Wells did right — or what the Fed did wrong.
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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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
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As tariff turbulence continues, BofA is predicting a slowdown, not a downturn. But America's second-largest bank is also signaling that it's prepared for a more severe scenario.
April 15
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The Office of the Comptroller of the Currency says it's still reviewing compromised emails and attachments after hackers gained access to the regulator for over a year and has not ruled out exposure of customer or supervisory data.
April 15
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New York AG Letitia James is suing the earned wage access companies for charging illegal, high-interest loans that would have wide-ranging implications for EWA providers. DailyPay last week filed a countersuit against James's office.
April 15
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CEO Jane Fraser said Tuesday that the bank is positioned well to handle shakiness in the global market, and is still working on its years-long overhaul.
April 15
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A report from Galaxy, which builds crypto lending platforms, shows borrowers are trusting decentralized players after a centralized platform collapsed in 2022.
April 15
