U.S. commercial banks and savings banks have reduced employment by nearly 81,000 since the first quarter of 2023, including a net loss of 7,463 positions during the third quarter of this year, according to a new report from KRBA Financial Intelligence. Big banks, which have been embracing artificial intelligence, were big contributors to the decline.
Under pressure from regulators to beef up risk management in commercial real estate lending, banks are using new software tools to improve analysis.
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Afterpay co-founder Nick Molnar will lead a centralized sales structure, part of a larger organizational change as the firm battles firms like PayPal and Stripe to reach merchants.
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The Federal Reserve chair said Fed researchers continue to explore central bank digital currencies to stay current on international payments developments, but emphatically denied that the central bank is considering creating one of its own.
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The London challenger bank has added deposits in an effort to keep customers from using banks and other fintechs; the Australian bank Westpac is offering cards to kids as young as 8; and more in our global payments and fintech roundup.
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 Canadian bank's U.S. wealth management arm is moving toward a hybrid digital-human advice platform, partnering with BlackRock's FutureAdvisor to add robo tools for its 1,900 advisers.
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HSBC is testing a new money management app that uses push notifications to nudge customers into saving more and spending less.
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Bank of New York Mellon, Northern Trust and State Street have all pledged to cut costs as challenging global equity markets, low interest rates, a strengthening U.S dollar and heightened regulatory expectations continue to crimp revenue and profit margins.
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After maintaining a $250,000 exemption threshold for real estate appraisals for nearly 20 years, the National Credit Union Administration is set to raise that limit to $400,000.
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To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.
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The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes.
Executives at the Boston-area mutual bank said its digital-only division's growth is accelerating, even as more banks enter the space.
A budget bill passed by the House Financial Services Committee would eliminate the Public Company Accounting Oversight Board and cap the Consumer Financial Protection Bureau's budget at roughly $249 million.
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An executive with the Federal Home Loan Bank of Chicago pushes back on a BankThink article criticizing the Mortgage Partnership Finance program.
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The SEC chairman's power grab is driving the crypto industry out of the U.S. Eventually, the courts will find that he has exceeded his authority.
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If the Supreme Court strikes down CFPB regulations by ruling against the constitutionality of the agency's structure, technological innovation will be harder for banks to achieve as regulatory clarity moves further out of reach.
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A recent $450 million loan is par for the course at Beal Bank USA, which has developed a reputation for seeking out nine-figure loans backed by tangible property.
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The Montreal-based bank brought its earned media value up to $1 million by building an internal system for employees to share social posts about BMO.
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American Banker's newest ranking will recognize 50 bank executives leading innovation at their companies or in the industry at large.
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Ten teams will be honored for executing the most innovative technology projects of 2025.
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Chris Shelper is now the sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA's board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more in this week's banking news roundup.
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The megabank laid out a series of changes, including the impending departure of its chief financial officer and other executive shifts related to a revamp of its U.S. personal banking line of business.
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The payments fintech recently introduced AI agents to its lineup of products banks and credit unions can pick from and add to their existing technology stacks.
Haiqu's new encoding technique allows quantum computers to process high-dimensional financial data, showing improved performance in spotting anomalies.
The 23rd annual ranking of women leaders in the banking industry.
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