The proposed Berkshire Hills-Brookline merger is expected to finalize on Sept. 1; Flagstar Financial has scheduled a special shareholders' meeting to simplify the bank's regulatory structure; former Credit Suisse executives agreed to settle a suit filed by shareholders claiming they failed to maintain adequate risk management; and more in this week's banking news roundup.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
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The card network is examining how to make incentives more personal by using advanced technology to sift through a trove of consumer spending data.
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The pandemic's push to expand contactless mass-transit payments has produced a 120% increase in Discover's transit transactions since 2020 as more commuters opt for the pay-as-you-go approach versus prepaying.
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The bank has agreed to acquire Big Data Healthcare, a Texan fintech that automates commercial payments flowing to and from hospitals and medical groups. It's the latest example of banks' deepening health care investments.
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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Compliance and financial reporting experts are criticizing the Financial Industry Regulatory Authority's proposal for broker-dealers to cough up more detailed and frequent financial reports.
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Hedge fund icon Stanley Druckenmiller is shutting his firm and ending a 30-year career after amassing one of the best long-term trading records in the industry.
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Zions Bancorp. reached equity-distribution deals with Deutsche Bank AG and Goldman Sachs Group Inc. to sell up to $200 million of stock, continuing Zions' effort to raise capital.
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A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.
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Brian Montgomery seems on his way to being confirmed to lead the Federal Housing Administration. But once he gets there, he may find it difficult to be as innovative as he was during his first stint as commissioner — particularly when it comes to reducing FHA premiums.
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The credit union service organization recognized CUs in a variety of lending categories.
First Citizens extends its brand to CIT business lines, Discover launches TV campaign for debit account, Southern Michigan Bancorp announces leadership transition and more in the weekly banking news roundup.
Membership requirements, expense and the nonprofit ethos largely keep credit unions from participating in the banking-as-a-service space. But a few, such as North Bay Credit Union in California, have carved out a niche.
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Financial disparities have only worsened during the coronavirus pandemic. President-elect Biden’s team could address this issue by establishing an office of economic equality under the Financial Stability Oversight Council.
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As executives continue to navigate business strategy decisions to deal with dramatic changes in supply chains, proper communication and strong supplier relationships is widely considered a prerequisite when exploring P2P risks, says Practis' Jan van der Pouw.
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Improving data management can also help future-proof data infrastructure and put the appropriate protections in place before it’s too late, says Cohesity's Michael Letschin.
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Horizon Bancorp said it will raise about $200 million in capital to fund a major balance-sheet restructuring. The move would dilute existing shareholders, and the company's stock price dipped on Thursday.
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The Consumer Financial Protection Bureau initiated a new rulemaking process for its open banking rule with a focus on who can serve as a representative for the consumer and whether banks can charge fees to third parties for consumer data.
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The digital bank gives its business clients the option of feeding their bank account data into Anthropic's large language model, which will then provide answers to their questions.
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The Office of the Comptroller of the Currency Thursday terminated a 2022 enforcement order against Anchorage Digital, the first federally regulated crypto bank, at a time when fintechs and crypto firms are increasingly seeking national trust charters.
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More nonbank digital asset firms are applying for national trust charters, a development that many banking organizations oppose due to what they say is inadequate oversight, lack of congressional intent and no FDIC backstop.
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The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.
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The payment company increased its financial outlook, partly on the shoulders of new forms of artificial intelligence, such as "codename goose" that are making it possible to update products faster.
President Trump said Thursday that he will nominate Stephen Miran, who currently serves as chair of the White House Council of Economic Advisers, as the next member of the Federal Reserve Board of Governors. Miran is a key architect of President Donald Trump's tariff policy.
The 23rd annual ranking of women leaders in the banking industry.
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