Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
The incident will fuel the debate on Wall Street over whether digital coins are secure enough to enter the mainstream of finance.
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The card network's moves include supporting coins from Fiserv, PayPal and others; and offering services to what's expected to be a fast-growing industry.
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The stock started trading at $31 and closed Monday at $263.45. Circle has been the main beneficiary of the euphoria surrounding stablecoin regulations, as it is one of the few publicly traded companies with stablecoin-linked assets.
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Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.
The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades."
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Making donations for a variety of causes and teaching Boy Scouts about coins are just some of the ways credit unions are helping out in their communities.
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Project 2025, a new venture from the Children's Miracle Network's Credit Unions for Kids program, has tapped 10 young credit union leaders to envision how the industry can improve its corporate giving.
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Jacqueline Howard's personal interest in helping close the wealth gap prompted her to steer Ally Financial toward a more concerted effort on this front.
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The Federal Housing Finance Agency got an earful from housing experts at a listening session intended to aid a comprehensive review of the financing system.
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Investors are looking past the current boom in loan activity, fearing that inflation and other factors will cool demand and make it harder for borrowers to make payments.
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These standout performers all reported a three-year return on average equity above 14%. Two of them topped 20%.
New York's attorney general announces MoneyGram will pay a civil fine to settle a lawsuit over its handling of remittance payments; Swedish buy now/pay later lender Klarna is getting into the telecom business; Truist Financial has hired Charles Alston to lead its new nonprofit hospital, higher education and government banking team; and more in this week's banking news roundup.
Federal Reserve Gov. Michael Barr said in a speech Thursday that he fears the gradual pace of price increases from tariffs being passed on to consumers may prolong the one-time inflationary effect of the tariffs to the point where it affects consumers' inflation expectations.
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It is nonsensical for the government to sue one of the leading lenders in an underserved minority community as a means of encouraging more lending in that community.
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Decentralized digital ledgers offer financial services supervisors extraordinary access to information while eliminating concerns about information reliability. That should be reflected in regulatory attitudes toward crypto.
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The Home Loan banks have been a stable source of community bank funding for generations. An unnecessary regulatory crackdown now puts that reliability in question.
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Pulte says a GSE stock offering remains likely in 2026, but other policy paths are in play. NMN survey data shows the industry expects broader changes first.
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Federal Reserve Gov. Stephen Miran, who had been on a leave of absence from his position as Chair of the White House Council of Economic Advisers since he was confirmed to the central bank in September, resigned his CEA role Tuesday to uphold his promise to resign his White House role if he remained past the expiration of his term, which concluded Jan. 31.
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The Spanish banking giant, which has been trying to grow its U.S. business, plans to acquire the Connecticut-based parent company of Webster Bank.
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The crypto and payment fintechs both debuted on the stock market in late January with strong openings, then traded down ahead of a four-day partial government shutdown.
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At a hearing Tuesday, executives at the Swiss banking giant faced tough questions from both Republicans and Democrats. The lawmakers are unhappy with the bank's recent decision to withhold certain documents from a lawyer who's overseeing research regarding Nazi accounts.
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Prosecutors claim the Forbes 30 Under 30 honoree maintained two sets of books to hide Kalder's actual revenue of just $60,000.
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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.
The 23rd annual ranking of women leaders in the banking industry.
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