Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
-
Wells Fargo is expanding into New York City's Hudson Yards, Mastercard launches a new generative AI-powered shopping tool, Banc of California closes PacWest acquisition and more in the weekly banking news roundup.
-
Zelle owner Early Warning Services has completed a test of its digital wallet, which it sees as a tool to streamline payments and combat the rising tide of fraud schemes, including those driven by generative AI.
-
Real-time payments and a potential central bank digital currency are different initiatives, but many bank customers get them mixed up. To promote acceptance of FedNow, banks must distinguish between these new technologies as well as dispel the myths and fears linked to CBDCs.
-
Eager to escape more scrutiny and red tape from regulatory reform, some hedge fund managers are closing shop to concentrate on managing money for themselves, relatives and essential employees as unregistered family offices.
-
Bank of America Corp.'s head of U.S. wealth management, Lyle LaMothe, is retiring after 24 years at Merrill Lynch, according to an internal memo.
-
BNY Mellon Asset Management has promoted Gabriela Parcella to chief executive of Mellon Capital Management Corp., and hired Bart Grenier as chairman and CEO of Boston Company Asset Management LLC.
-
Assets increased 6% in 2018 to nearly $52 billion as loan originations surged and the company redeployed $2 billion of cash into higher-yielding securities.
-
Fixing the housing finance system is "the last piece of unaddressed business from the financial crisis," according to a summary of to-do items released by the Banking Committee's chairman.
-
The acting head of the Federal Housing Finance Agency has promised substantial changes for Fannie Mae and Freddie Mac, but the exact mechanics and timeline of an administration plan are still a mystery.
The leak of documents from the surveillance software and "ethical hacking" firm Hacking Team revealed that some foreign banks were clients. Had any U.S. banks been on the list, the last two weeks would have been interesting.
Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
The Federal Reserve governor said regulators have stifled the banking system's ability to experiment with emerging technologies.
-
BNPL providers earn most of their money from their merchant partnerships, not late fees, as their critics claim.
-
Under procedural changes recently adopted by the Consumer Financial Protection Bureau, the director could pursue more enforcement actions administratively without federal court approval. Financial firms may have a harder time defending themselves as a result.
-
A supervisory letter detailing their failings in assessing exposure to a collapsed hedge fund suggests that the Federal Reserve believes banks are falling short in basic risk management.
-
A new survey finds that fraud losses have jumped significantly in the last year, with digital channels and check fraud posing the biggest threats.
-
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.
-
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.
-
An appeals court upheld a nine-figure default judgment against Nexus Services, Libre by Nexus and three individuals who scammed immigrants held in custody by ICE.
-
TD Securities began making OpenAI's ChatGPT available to traders in June and it's become a "massive time save," according to Chief Information Officer Dan Bosman.
-
The superregional bank inked its merger agreement with FirstBank just two weeks after it saw the first draft of the agreement.
- 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 London-based firm is seeking a license that would provide a direct connection between merchants and card networks, reducing reliance on third parties and brandishing the London company's image as a player in America.
Many banks lowered the interest rates they pay on certificates of deposits and high-yield savings accounts in September, capitalizing on the Fed's 25-basis-point cut.
The 23rd annual ranking of women leaders in the banking industry.
- Partner Insights from Alacriti
-
Partner Insights from FIS -
Partner insights from Infosys -
Partner Insights from Alloy
