The Federal Reserve played a behind-the-scenes role in facilitating the sale of PacWest Bancorp, providing an enticement to private-equity interests to make a deal happen, according to agency records and recent comments by a prominent banking lawyer.
As sexy as decentralized systems and automation are these days, human involvement is still necessary in many areas.
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The court didn't rule on the merits of any regulation, but made it much easier to challenge rules governing banking.
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Even as more transactions go fully digital via apps and devices, one card manufacturer is betting that metal payment cards have a long-term future as status symbols — and secure payment devices.
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The value-added services unit of Visa, led by longtime Australian bank executive Anthony Cahill, covers nearly 200 global products in five categories, and recently produced a 23% quarterly increase in revenue over the prior year.
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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Lebenthal Holdings, the family-owned wealth management firm run by Alexandra Lebenthal, has hired former Ally Bank chief Barbara Yastine to be co-chief executive.
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UBS Financial Services of Puerto Rico has agreed to pay $34 million to settle charges by the Securities and Exchange Commission and Financial Industry Regulatory Authority that it failed to supervise a former broker who had customers invest in UBSPR affiliated mutual funds using money borrowed from an affiliated bank.
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Sallie Krawcheck, the former Bank of America and Citigroup executive, is adding a female-oriented investing platform to her ventures meant to promote women in business.
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David Becker, who founded First Internet Bank two decades ago, says traditional banks' digital-only ventures are only making his bank look more mainstream.
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The Department of Housing and Urban Development is seeking public feedback on federal, state and local laws and regulations that may inhibit affordable housing or constrain the supply of housing.
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Lenders contend the proposal goes beyond policing third-party debt collectors and could expose banks to enforcement actions and lawsuits.
Challenger bank Revolut calls for Meta's scam info program to reimburse victims; Sunwest Bank taps Umpqua's Mike McKean to lead treasury and payments; Fifth Third launches a new line of business; and more in this weeks banking news roundup.
Fifth Third Bancorp revised its guidance, but still expects record net interest income for 2025, even as commercial clients signal that economic volatility will drive up inflation.
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It would be a mistake for regulators in the U.S. and Canada to delay the rollout of rules supporting open banking. Fears of bank runs as a result of customer access to their own financial data are overblown.
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If history is any guide, periods of disruption in the industry are followed by regulatory resets, which in turn force banks to compete for the talent needed to meet new compliance demands.
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Americans are going to invest in crypto no matter what politicians and regulators think. So, it would be better to keep crypto exchanges in the U.S., and under SEC supervision, than to drive them overseas.
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The bank is adding trusted contacts, specialized teams and new tech against scams, but consumer advocates say reimbursement is the key missing piece.
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Oresar, who joined BMO as head of treasury and payment solutions sales after more than two decades at JPMorgan Payments, spoke with American Banker about her priorities leading a new team; the importance of organic mentorship; and what clients are asking for to keep up with the fast-paced change that's happening to the payments industry.
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Artificial intelligence is bringing revenue increases and expense reductions throughout Bank of America, Hari Gopalkrishnan, chief technology and information officer, said at an event Monday.
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While the bank will no longer run the platform, it will continue providing mobility services to clients in the industry.
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The Department of Government Ethics on Saturday released financial disclosures for former Federal Reserve Gov. Adriana Kugler, showing she had executed several individual stock trades in 2024, including during Fed blackout periods, an apparent violation of Fed ethics rules. The Federal Reserve Inspector General has launched an investigation.
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BNY estimates the market for stablecoins, tokenized deposits and other assets will reach a combined value of $3.6 trillion in four years, while Standard Chartered says the entire banking industry will soon be "tokenized." The trend is creating pressure to update strategies and technology.
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The fintech SpringFour has partnered with financial institutions to connect individuals to community resources in a record-long U.S. government shutdown.
Following a judge's rejection of a 2024 settlement with merchants, the card networks are offering a slightly higher interchange reduction and easing card acceptance rules. It's the latest attempt to end a legal fight that's two decades old.
The 23rd annual ranking of women leaders in the banking industry.
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