Community bankers say credit unions and new fintech entrants are increasing the competition for deposits and loans, even as deregulation is lowering capital and compliance costs, according to a new survey from reciprocal deposit provider IntraFi.
Cathy Bessant, Bank of America's chief operations officer and American Banker's Most Powerful Woman in Banking, has undertaken major initiatives outside her institution, including a focus on responsible AI.
-
If you are still thinking of blockchains as slow, clunky and expensive, do not feel badly. As is the story of many emerging technologies, they evolve quickly.
-
Banks sued the Consumer Financial Protection Bureau last year to stop the 1033 open banking rule from taking effect. Now the Trump administration plans to kill the rule.
-
The Brazilian neobank expanded its bank accounts for minors with new features in 2024 by adding high-yield savings "boxes" and expanding parental controls.
-
The director of the Consumer Financial Protection Bureau has asked Congress to clarify its ability to conduct exams that ensure compliance with the Military Lending Act.
-
The company's fourth-quarter results were also stymied by costs tied to severance and litigation, along with investments in technology.
-
The Financial Solutions Lab, a joint initiative, has announced the winners of its annual competition to identify solutions to consumer financial challenges, this year focusing on startups dedicated to improving financial health in the workplace.
-
Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.
-
Truliant Federal Credit Union is one financial institution eager to expand online notarization. For customers, it's more about convenience than social distancing.
-
The San Francisco-based online lender originated more than $2 billion in personal loans during the first quarter, a big jump from a year earlier. The surge made up for softness in the company's home loan and student loan businesses.
Intruders accessed names, Social Security numbers, birth dates, addresses and driver’s license numbers in what could be one of the largest data intrusions.
Months after OceanFirst Financial settled federal redlining allegations, it received the highest possible Community Reinvestment Act rating from the Office of the Comptroller of the Currency. CEO Christopher Maher said the bank made a "significant effort" to introduce its lending products to markets it had recently entered via acquisition.
Federal Reserve Governor Michael Barr warned that subjecting the stress testing models to the notice and comment process could lead them to "ossify."
-
Hundreds of thousands of Americans leave prison each year with little or no financial literacy. It's in the interest of banks and the communities they serve to educate them.
-
Overdraft fees continue to be in the spotlight, with the Consumer Financial Protection Bureau proposing a rule essentially to cap them. Certain credit unions are also now required to disclose additional information on this revenue stream.
-
Nothing less than a whole-of-government approach, in concert with the financial services industry, will be enough to address the spiraling cost of fraud to both businesses and consumers.
-
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.
-
President Trump's announcement Friday morning that former investment banker and Fed Governor Kevin Warsh would be his selection as the next chairman of the Fed ends months of speculation and gives the president a key ally at the central bank.
-
The Office of the Comptroller's interpretation of federal trust powers has opened the door for dozens of charter applications by nonbank crypto firms in recent months. Some experts say the agency's interpretation may push the ambiguous statute beyond its limits.
-
CEO Ryan McInerney reiterated the company's long-held stance that the Credit Card Competition Act was "very harmful" and "just simply not needed."
- 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 Minneapolis-based company will return to its former governance structure when it installs CEO Gunjan Kedia as board chair. Andy Cecere had served as chair during his tenure as the company's chief executive, and then became executive chair when he stepped down as CEO last year.
Acquiring Stellar Bancorp will create the second-largest Texas-headquartered bank, with a No. 5 deposit share in the massive Houston marketplace.
The 23rd annual ranking of women leaders in the banking industry.
-
Sponsor Content from Onfido -
Sponsored by IntraFi - Sponsor content from Tata Consultancy Services
- Sponsor Content from Salesforce
