JPMorganChase's Alfredo Porretti has left the firm; two junior Goldman Sachs bankers took part in a controversial fashion shoot; Societe Generale appointed Selina Cheung head of equity capital markets in Asia Pacific; and more in this week's banking news roundup.
Venu Krishnamurthy is joining the asset management giant at a time when it is reorganizing itself and tinkering with product offerings to ward off fintechs and other challengers.
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The payment company launched new tools for merchants and entered artificial intelligence collaborations with OpenAI and Mastercard ahead of the company's second quarter earnings, which beat analyst expectations.
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In an expanded partnership announced Monday, the card network and payment fintech will enable hundreds of millions of consumers and tens of millions of merchants to use new forms of artificial intelligence for shopping and payments.
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Zelle's parent Early Warning Services said Friday it was planning to take its peer-to-peer payments network international through a new stablecoin initiative. It says the details will come later.
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
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The state's lottery program has begun referring the 30,000 people a year who buy winning tickets to credit unions for financial advice.
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Net income at the Toronto-based bank dipped by double digits during the fiscal third quarter. But the company's U.S. operations, including City National Bank in Los Angeles, fared better.
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With financial literacy apps, scholarships and college-team sponsorships, credit unions are fighting for market share among students.
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The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.
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The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.
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While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.
The Richmond, Virginia-based bank expects to build 10 branches in Raleigh and Wilmington, North Carolina, over the next three years. M&A is on the back burner as the company also works to capitalize on its recent acquisition of Sandy Spring Bank in Maryland, CEO John Asbury said.
As the Senate Banking Committee stands poised to mark up crypto market legislation within days, banks are focused on blocking crypto exchanges from offering rewards on stablecoins, which they fear could siphon deposits away from community banks.
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The removal of the Consumer Financial Protection Bureau as a viable regulator has thrown the doors open to the kind of unscrupulous behavior that triggered the last major financial crisis.
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Automated systems respond poorly when confronted with edge cases and unfamiliar circumstances. But those are exactly the moments when a customer's trust in a bank is either established, or lost forever.
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Wise bankers will recognize that as the Trump administration dismantles much of the supervisory structure built up over past decades, regulatory risks are being supplanted by other dangers.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that the central bank is considering a "fundamental reform" of the discount window, including streamlining rules and processes across the Fed system.
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Experts say that compliance with a potential executive order being considered by the White House that would require banks to collect citizenship information would be costly, especially for community banks.
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Brady, Key's chief information officer since 2012, resigned Monday due to "personal health considerations," the Cleveland-based bank said in a securities filing. Chief Financial Officer Clark Khayat will assume her duties.
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As the Trump administration limits access to only U.S. citizens, volume in the Small Business Administration's flagship loan program is already trailing the 2025 pace. Experts predict that the tighter eligibility criteria will send more loans to nonbanks.
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Experts say regulators will be looking more closely at know-your-customer compliance in the wake of U.S. strikes on Iran.
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New data from J.P. Morgan reveals how retirement expectations diverge from reality, and what that means for advisors helping clients navigate life after work.
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New data from J.P. Morgan reveals how retirement expectations diverge from reality, and what that means for advisors helping clients navigate life after work.
Charles "Chuck" Parcher will replace Dennis Shaffer as president and CEO of the Sandusky, Ohio-based community bank. Shaffer is set to retire in late August.
The 23rd annual ranking of women leaders in the banking industry.
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