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 bank is using software "robots" 30 of them, according to its CEO to cut costs and shift workers to more fulfilling work.
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A federal judge recently rejected an agreement on transaction fees, ensuring that a multi-year battle between the credit card companies and merchants will continue. Ryan McInerney vented during Tuesday's earnings call.
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The credit card giant increased its allowance for credit losses by more than $800 million following the termination of a partnership with Walmart.
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With the government contract for Direct Express, Bank of New York would gain a free liquidity source of more than $3 billion in deposits a month and expand its burgeoning offerings to the underbanked.
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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The Minneapolis bank has promoted longtime executive Andrew Cecere to president, a title held by Chairman and CEO Richard Davis for more than a decade.
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The latest in BBVA Compass' ventures with fintech companies will bring it a simpler way to offer investment advice to the millions of households that typically don't qualify for it.
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Johnson Financial Group in Racine, Wis., has agreed to buy the wealth management business of Cleary Gull Advisors.
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Lower rates and more nonbank competition will make it harder for banks to keep loans on their books as business borrowers have plenty of opportunities to refinance elsewhere.
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Stephen Calk and the bank where he formerly served as CEO are both arguing that his bribery trial should be held in Illinois. Prosecutors oppose the move.
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President Trump's impeachment trial could get underway in the Senate this week, making it even harder for the movement's legislative priorities to gain traction.
Other acquisitive executives, however, say that interest rate cuts have hastened already-active deal discussions, as more banks seek scale and business line diversity.
President Trump suggested his sweeping tariffs would help him reduce income taxes for people making less than $200,000 a year.
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Banks know what they're looking for. Here are key ways to show them that you can bring it to the table.
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California's bid to regulate EWA programs as though they are loans would harm workers, companies and the state's economy.
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With LIBOR's long-awaited sunset, the future of interest rate benchmarking must be defined by choice.
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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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Kunal Mehta, also known by the alias "Shrek," used shell companies and bulk cash drops to clean millions for a cybercrime ring that stole $263 million.
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Federal Reserve Gov. Stephen Miran argues that banks holding excess reserves are keeping the central bank's balance sheet bigger than it should be, and suggested that regulatory changes could help bring those reserves down.
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An appeals court's decision will make it harder for consumer-lending-focused fintechs to operate in Colorado. But the impact could eventually be felt more widely, according to both industry groups and consumer advocates.
The new rules require banks in the ACH network to implement risk-based monitoring to combat rising fraud and scam schemes.
The 23rd annual ranking of women leaders in the banking industry.
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