Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
Software problems have recently plagued Bank of New York Mellon, HSBC and the New York Stock Exchange. Thorough testing and new quality standards can help financial institutions weed out weaknesses in their code that could (literally) break the bank.
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Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.
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Multifunction wallet apps will support shopping, loyalty, paying at the pump or EV charging station and crypto asset management, challenging the roles of U.S. financial institutions.
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Here's what's happening around the world
Research, insights and data on how banks and financial institutions are using AI can now be found in a new location on American Banker.
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A broker who moved from Fidelity Investments to Morgan Stanley Smith Barney has been temporarily barred in a settlement from calling his former clients to ask them to follow him.
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Securities America has agreed to meet with a mediator in an attempt to resolve a flood of investor cases that could expose it to more than $300 million in liabilities.
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Retirement savings may swell to $4 trillion over the next four years and the largest banks want a bigger share of that money.
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Some companies on SourceMedia’s Best Fintechs to Work For list offer their employees extra time off to live boldly.
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The federal banking agencies will not hold a hearing on a proposal to reduce the number of residential real estate transactions that require an appraisal.
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The Senate Banking Committee's vote on Mark Calabria's nomination to lead the agency comes amid speculation about congressional and administrative GSE reform plans.
Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
The White House has tapped former Federal Deposit Insurance Corp. Director Jonathan McKernan to lead the Consumer Financial Protection Bureau and attorney Jonathan Gould to lead the Office of the Comptroller of the Currency late Tuesday.
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Strong climate policy and continued development of stress-testing tools by central banks are essential to transitioning to carbon neutrality.
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We’re all entitled to our own opinion at work, but what if it starts impacting improvements and growth?
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Here's what industry executives have stopped talking about — and what they're focused on today.
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The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.
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Former City National CEO Kelly Coffey has a new venture in wealth management; Erin Siegfried is Northwest Bancshares' new chief legal counsel and corporate secretary; Flagstar Bank secures OCC approval to merge its holding company into the bank; and more in this week's banking news roundup.
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The regional bank has launched a digital student banking center that's part of a broader strategy to focus on relationship-building.
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The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
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An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.
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Younger borrowers are increasingly moving money away from financial institutions, but banks could recapture Gen Z capital by helping them build credit.
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Under Stewart's leadership, the bank's commercial banking services gained 8% year-over-year growth in middle-market loans.
Legal experts say the Supreme Court's decision not to immediately rule on a request to remove Federal Reserve Gov. Lisa Cook from office suggests that, whatever the court's views on independent agencies may be, it views the central bank differently.
The 23rd annual ranking of women leaders in the banking industry.
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