The megabank laid out a series of changes, including the impending departure of its chief financial officer and other executive shifts related to a revamp of its U.S. personal banking line of business.
Chief Technology Officer David Reilly has had to make major reductions in traditional expenses so Bank of America can afford to collaborate with fintech firms that are developing innovative products the bank craves.
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Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.
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The American tech giant's agreement to open up to other firms may give other tech firms the chance they need to offer an updated mobile wallet.
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The card networks extended an agreement to keep interchange the same for cards issued outside of the European Union; meanwhile Ant Group's Alipay adds a number of AI-powered assistants.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Wells Fargo plans to systematically poach Credit Suisse's private brokers in the U.S. and their clients and the Swiss bank is OK with that.
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The widespread adoption of online and mobile banking has largely happened at a time when rates have been near zero. At some point, rates will rise and the value of the experience will be pitted against the value of a yield for depositors. Rate-hoppers will be able to move at an unprecedented speed.
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Driven by solid gains in both interest and noninterest income, Northern Trust Corp. in Chicago reported a profit of $234.6 million in the third quarter, up 15% from the same period in 2014. Earnings per share climbed 14%, to 96 cents, in line with the estimates of analysts polled by Bloomberg.
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The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations.
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More digital competition, tougher tech choices and a completely new generation of customers are just some of the challenges facing bankers in the near future.
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The company will significantly boost its origination volume after buying 51% of BrandMortgage.
The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.
The International Monetary Fund lowered its economic growth projections for 2025, citing policy uncertainty. It also urged central banks to stand ready to use macroprudential tools to facilitate lending in a potential recession.
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Pride month is the perfect time to take a hard look at the discrimination that LGBTQ people face in the financial services industry, particularly when it comes to obtaining credit.
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The idyllic existence of Federal Home Loan bank leaders has persisted for 90 years. Now the castle walls may be crumbling.
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Recent bank failures point to the need for banks to expand their customer base. That might require stepping outside your comfort zone.
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President Trump has nominated Stuart Levenbach, associate director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for at least another 210 days.
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Advances from the Federal Home Loan Banks dipped in the third quarter, but experts do not necessarily see the dip as a sign of ample liquidity in the economy.
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Profitable community banks based in Georgia and New Mexico have announced deals to sell themselves to credit unions this week, drawing the ire of banking advocates.
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A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers.
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The West Reading-based bank has opened three offices in California and two in Nevada, continuing its strategy of establishing a presence in high-growth markets around the country, CEO Sam Sidhu said.
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Witnesses and lawmakers at a House Financial Services Committee hearing gave a more downcast view of a Senate deposit insurance reform proposal, with many House committee members expressing cost concerns.
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Federal Reserve Bank of Atlanta President Raphael Bostic won't seek reappointment following the end of his current term on Feb. 28, 2026.
Small banks made up the majority of honorees on American Banker's 2025 Best Banks to Work For ranking.
The 23rd annual ranking of women leaders in the banking industry.
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