Comerica Bank in Dallas has been around since before the Civil War. But the banking crisis of 2023 tamped down on its access to low-cost funding, and the problem persisted until it finally decided to sell itself.
Sales of cyberinsurance are rising among financial services companies, a sign of the times as data breaches, distributed denial of services and other types of attacks continue. But policies can be misleading, and they definitely are no silver bullet.
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The product-comparison site, which rates and ranks credit cards, is debuting its own secured credit card that it believes will help users improve their credit scores and pursue better offers.
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By purchasing the merchant acquirer Atlantic-Pacific Processing Systems, the fintech Stax has rounded out its offerings in a way that echoes the structure of larger payment companies.
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The U.K. government confirmed plans to regulate cryptoasset activities more strictly, bringing them under the same regime as traditional financial services.
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 niche-oriented New York company attributes much of the success to investor demand for two of its specialties: gold and hard assets.
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Retail investors in municipal bonds are shaken, but still standing, after a relentless barrage of forecasts of massive municipal bankruptcies and defaults this year.
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Lawmakers have had to extend the program eight times since October 2017, as Congress has been unable to pass broader reforms.
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The Federal Housing Administration's risk-sharing program with the Federal Financing Bank began as a temporary fix, but the agency is exploring how to make it more permanent.
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The sustained rise in home values will boost Fannie Mae and Freddie Mac's loan limits for 2019, marking the second consecutive year in which it increased by nearly 7%.
VersaBank in London, Ontario, agreed nearly two years ago to buy a small Minnesota bank. The buyer's CEO says he remains hopeful approval will come soon.
The Consumer Financial Protection Bureau found that auto lenders' use of reposession agents spiked to nearly 70% in 2022, up from 31% in 2018, resulting in higher costs for consumers.
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Diane Morais, the bank's consumer and commercial banking president, writes that eliminating overdrafts has had little impact on the bottom line, and she encourages more banks to do the same.
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Overdraft fees are criticized as unfair penalties for lower-income customers, but they are often better for consumers than getting purchases rejected.
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A new proposal to allow the Small Business Administration to offer credit directly would pull customers away from community lenders, writes the head of a credit union trade group.
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A government shutdown and a single senator's hold prevented the renewal this week of a bipartisan law that helped banks and other firms defend against hackers.
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Federal Reserve Vice Chair Philip Jefferson said Friday that the economic outlook is uncertain and that he was adopting a cautious approach to gauging whether slowing growth and a softening labor market outweigh inflation pressures from tariffs.
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The CardWorks subsidiary has officially taken over Ally Financial's Ollo credit card portfolio, ending a five-year dance between the two companies that first had Ally buying CardWorks for $2.7 billion.
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The Consumer Bankers Association elected Atlantic Union Bank's Maria Tedesco as its 2025 board chair; Banco Santander's Steffen Doyle is leaving the firm; Commerzbank's lawyers allege an ex-analyst made up sexual harassment claims against a colleague after he lost his job; and more in this week's banking news roundup.
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The ongoing government shutdown prevented the Bureau of Labor Statistics from releasing its September jobs report Friday, but job growth appears to be softening. The lack of reliable government data comes as the Federal Reserve mulls further interest rate cuts.
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College sophomores are applying for jobs before they've even taken a finance class. Goldman Sachs CEO David Solomon says he dislikes the process, but doesn't have the power to change it.
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The bank added an AI assistant to improve business payment tools, a move that comes at the same time that Citigroup and Temenos pushed their strategies for emerging AI at banks.
Federal Reserve Vice Chair Philip Jefferson said despite the near term cloudiness to economic projections, he does expect inflation to resume its downward trajectory next year and reach the Fed's 2% inflation target in the coming years.
The 23rd annual ranking of women leaders in the banking industry.
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