Prosecutors allege Curtis Weston and a bank insider used fraudulent loans to fund stock market trades, leaving the bank with $20 million in losses.
Execs from Bank of America, Wells Fargo, BBVA, Ally Bank and others outlined their AI strategies, progress to date and lessons learned at BankAI this week.
-
The retail giants are kicking the tires on their own currencies. The potential prize is a way to reimagine prepaid cards and gain a key position as new forms of artificial intelligence-powered payments take off.
-
The card, powered by fintech Cardless' embedded credit card platform, provides up to 4% cash back in bitcoin, and allows customers to service their account directly in the cryptocurrency exchange's app, similar to the way Apple Card works in Apple Wallet.
-
New forms of artificial intelligence can take most, if not all, of shopping and checkout out of the hands of humans. Not everybody is going to be comfortable with that, though the payment giant sees travel as a good place to start.
It's no longer enough to conduct traditional demographic analysis of customers. TD Bank wants to know what is going on with individual consumers at any given moment and respond accordingly.
-
The company plans to use the new capital to pursue growth opportunities.
-
The U.S. subsidiary of the British banking giant has partnered with Everfi to offer an online self-guided financial education program, and with GreenPath Financial Wellness to deliver in-person seminars in numerous cities.
-
The Association for Black Economic Power will receive an interest-free forgivable loan and a grant from the city to help pay for a retail space and equipment for the effort.
-
NBT Bancorp’s planned $10 million commercial real estate fund could have a big upside for its CRA rating, while also improving housing in its communities.
-
Like other mortgage lenders, the San Francisco megabank has been cutting staff since refinancing volumes started to fall. Additional layoffs are expected over the next couple of quarters, according to the bank’s chief financial officer.
-
The San Francisco bank reported a 31% increase in loan originations during the second quarter. Analysts are wondering whether it will be able to secure enough low-cost funds to avoid eroding margins.
Main Street Financial's ouster of James VanSickle came three months after its chairman characterized the company's financial performance as being "on the upswing."
In a break from a 20-year history marked by losses and scandal, California International Bank in Westminster is on pace for its biggest-ever profit, its CEO says.
-
More than a decade ago, a senator from Alabama warned that the Consumer Financial Protection Bureau would grow into an unaccountable monstrosity. His successor, Sen. Katie Britt, says that prediction has proven true.
-
Regulatory justice prevailed with a federal district court injunction staying the politically motivated CRA final rule, the most complicated and convoluted regulation ever. Depending on election results, it may end up in the Supreme Court.
-
The Supreme Court ruled this year that companies facing civil money penalties have the right to request a jury trial. The ruling is going to change the way regulators and companies think about enforcement actions.
-
U.S. Bancorp shuffles management as COO Souheil Badran announces his retirement; Stock Yards Bancorp agrees to buy Field & Main Bancorp; Citi's wealth business hires Mercer's Olaolu Aganga for a newly created role; and more in this week's banking news roundup.
-
Former Fed Gov. Kevin Warsh is a relatively known quantity to financial markets, but his embrace of President Trump's agenda and the White House's own contentious relationship with the central bank make it hard to know with certainty where — or even whether — he will lead the Fed.
-
The Long Island-based bank returned to profitability during the fourth quarter of 2025. The results mark "a significant milestone" in the bank's turnaround plan, CEO Joseph Otting said.
-
The neobank was bullish on cryptocurrency and stablecoins, which could provide tailwinds as it looks to launch new products including crypto-based lending, institutional trading, and correspondent payments and settlements via stablecoins.
-
Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.
-
Fidelity Digital Assets, the national crypto trust bank subsidiary of Fidelity Investments, is set to launch a dollar-backed stablecoin on ethereum.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
The Connecticut bank invited rival bankers, lawyers and regulators to share their experiences with and warnings on using AI.
The London-based fintech has launched a suite of financial services as its global expansion gains steam. That and more in the American Banker global payments and fintech roundup.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsored by S&P Global
- Sponsored by S&P Global
- Sponsored by S&P Global
-
Sponsored by IntraFi - Partner Insights from Paxos
- Sponsor Content from Finzly
- Sponsored by S&P Global
