Boston-based Eastern Bankshares is focused on organic growth, but it would "evaluate the opportunity" for M&A if a deal presents itself, its CEO said Friday. The comments came four days after an activist investor criticized the bank's recent M&A transactions.
Federal prosecutors on Tuesday charged three men in connection with the mass hack attack on JPMorgan Chase that took place in June 2014.
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The Reserve Bank of India on Wednesday ordered Paytm Payments Bank, a unit of One 97 Communications, to stop its popular mobile wallet business along with other activities, citing persistent non-compliance and supervisory concerns.
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Visa will be the payment partner for the 2026 World Cup and other events, companies in Canada are teaming up to promote open banking for credit unions, and more.
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PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January.
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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A court in Italy acquitted Citigroup Inc., Deutsche Bank AG, Morgan Stanley, Bank of America Corp. and bankers at the companies in a market-abuse case relating to the 2003 collapse of Parmalat Finanziaria SpA, Italy's biggest dairy company.
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Morgan Stanley Smith Barney hired Jeff Hack from JPMorgan Chase & Co. as its chief operating officer, one of several organizational changes announced by the firm's new president, Gregory Fleming.
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KeyBanc Capital Markets doubled its personnel last month by hiring four professionals from Chapdelaine Credit Partners, a bond broker that closed in January.
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Rep. Gregory Meeks of New York signaled which legislative provisions Democratic leaders would accept in a bipartisan housing finance package.
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American Banker won 11 journalism awards during the past week, including its first Grand Neal, the highest of the honors announced at this year's Jesse H. Neal business journalism awards.
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The mortgage industry is stepping up its fight against a bill that would raise the Department of Veterans Affairs' mortgage fees to cover medical costs for Vietnam vets.
The Boston-based custody bank will place deposits at Carver State Bank, Citizens Trust Bank and Ponce Bank as part of its broader effort to help reduce the wealth gap. State Street plans to place a total of $100 million of deposits at minority depository institutions this year.
Banks' latest annual reports, filed in the early weeks of the second Trump administration, provide a window into how the industry is adjusting to a new political climate.
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We can't afford to miss this opportunity to build capacity in community development financial institutions.
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Banks have been barred from trading on their own account for almost a decade because Congress wanted to quash any potential conflict of interest. They should hold themselves to the same standard.
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Small-business owners who can't get loans from traditional sources need alternative ways to access capital.
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Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
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In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
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Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
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Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
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Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
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Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.
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Younger borrowers are increasingly moving money away from financial institutions, but banks could recapture Gen Z capital by helping them build credit.
A number of banks experienced major increases in 7(a) lending activity during SBA's recently completed fiscal year, as program-wide loan volume topped $37 billion for the first time.
The 23rd annual ranking of women leaders in the banking industry.
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