The Latest

Industry body UK Finance is expanding its pilot of an experimental shared ledger to track banking payments, hoping to join some of the dots in the nascent world of digital assets.

Bank of America and other banks' balance sheets have remained resilient despite higher interest rates, though uncertainties remain, including inflation and attacks in the Middle East.

Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.

The Arkansas Republican is currently the vice chairman of the House Financial Services Committee and has a deep background in the banking industry and policy.

The Buffalo, New York-based bank set a goal four years ago to limit its commercial real estate loan portfolio to 160% of its capital and reserves, and it's closing in on that target, says Chief Financial Officer Daryl Bible.

Democratic Sens. Elizabeth Warren, Mass., and Sheldon Whitehouse, R.I., decried the U.S. Chamber of Commerce's suit against the Consumer Financial Protection Bureau's credit card late fee rule, saying the suit is an example of the kinds of frivolous litigation it opposes elsewhere.

The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.

In an ongoing case, Citi and the New York attorney general are disputing who is responsible for wire transfer fraud that drained a customer's retirement savings.

Companies are taking vastly different approaches to how they implement generative AI, whether it's to empower employees or to overhaul the way they bring products to market.

The company reported $4.74 billion in net revenue in the first quarter, down 7.3% from a year earlier but exceeding analysts' estimates of $4.71 billion.