Capital One, PNC, Truist and, U.S. Bancorp are urging regulators to cut duplicative calculations and align U.S. rules with global standards, a longstanding preference for banks but one that will likely find a warm reception from a deregulation-focused Trump administration.
Q2, in Austin, Texas, paid $10.6 million to acquire all outstanding interests in Social Money, according to a Tuesday news release. The purchase price was subject to a customary working capital adjustment.
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The bank is arguing in court with Viva founder Haris Karonis over whether it hindered the fintech's growth. The allegations strain a relationship that was already pressured by inflation and other economic factors.
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Nearly a dozen states are looking to regulate digital payroll advance products, prompting a fintech trade group to ask the Consumer Financial Protection Bureau to conduct a formal rulemaking.
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Financially stressed consumers nearing their credit limit use buy now/pay later loans to finance smaller purchases, while wealthier households want to avoid paying interest or carrying a balance on credit cards for bigger-ticket items, according to the New York Fed.
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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Bank of America Corp.'s Merrill Lynch named John Thiel as the new head of U.S. Wealth Management, one of the top positions in the bank's Global Wealth & Investment Management group, according to an internal memo.
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Carlyle Group, the buyout firm that on Wednesday unveiled another major investment in the banking sector, distributed more than $6.4 billion to investors in the first quarter.
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The bank is expecting to benefit from the discount airline's first flights to the Aloha State even as a white-hot local housing market starts to cool.
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Tens of millions of dollars of M&A costs and a decline in mortgage activity offset higher loan income in the first quarter at the two banks, which also offered a timeline for their rebranding and shareholder votes.
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CUNA Mutual Group's February trends report showed that growth in auto loans, mortgages and membership had slowed.
General Motors' financial arm has halted its quest for an industrial loan company charter from the FDIC, but is signaling that it will try again. Observers said the automaker may wait until after the presidential election to decide how to move forward.
The banking sector has stabilized significantly since the spring of 2023, but elevated interest rates have created lingering issues on bank balance sheets.
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The middle of a housing market downturn is no time to experiment with untested underwriting tools.
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The Federal Housing Finance Agency soon will commence a review of the Federal Home Loan Bank System. For the process to be successful, the actual users of the system and the institutions that will be the most impacted by any changes to its mission, mandate or role need to add their voice to the conversation.
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Jamie Fiore Higgins, a former executive at Goldman Sachs, describes the toxic work environment she endured during her 18 years at the investment bank in her memoir, "Bully Market."
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Five years after the government struggled to disburse pandemic relief checks, the Fed is using improved processing for emergency funds as a reason for banks to get onboard with FedNow.
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Revolut receives a banking license, while SumUp introduces its payments hardware. That and more in the American Banker global payments and fintech roundup.
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The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union's appeal of an August D.C. Circuit ruling allowing the administration to fire up to 90% of the agency's workforce.
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The president of the planned Georgia Skyline Bank says he's cautiously optimistic that his group can raise $35 million of startup capital in time for an opening early next year.
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The Trump administration has ordered banking agencies to root out and identify instances of politically motivated debanking while at the same time raising pressure on banks to scrutinize or potentially sever their ties with liberal nonprofit clients. That dynamic creates a compliance puzzle with no obvious answers, experts say.
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Speakers at the Most Powerful Women in Banking conference Tuesday shared several scenarios in which banks will benefit from dollar-pegged cryptocurrency.
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America's second-largest bank revised its net interest income target upward after what analysts called a "clean" third quarter.
Mastercard has added an "agentic cloud" to speed deployment, while Visa has issued a protocol to help AI agents communicate. That and more in American Banker's global payments and fintech roundup.
The 23rd annual ranking of women leaders in the banking industry.
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