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Rising deposit costs have plagued banks in general, and the Tennessee bank had to pay up to bolster liquidity after its failed merger with TD. But First Horizon retained customers in the first quarter while not paying them the special rates they got last year.

U.S. customers who have previously used Sweden-based Klarna's buy now/pay later financing — and paid off their loans in full — will be prequalified for interest-bearing loans through a new version of the Klarna Visa card rolling out later this year.

Rep. Frank Lucas, R-Okla., told American Banker that he sees a concrete path to chair the House Financial Services Committee that relies on his long experience in committee leadership and long political career.

Societe Generale has been seeking more than $1.1 billion for the business, according to the people, sources told Bloomberg News. 

Banking Circle US is the first company to use Connecticut's uninsured bank charter for wholesale and merchant activities. This kind of charter makes sense for payments firms, but questions persist about overall viability.

The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.

Companies going public in the first quarter globally raised $27.8 billion, a 10% jump from the same period in 2023, according to data compiled by Bloomberg.

Financial industry workers don't need to be concerned about losing their jobs to AI — they need to be concerned over which of the many opportunities they will want to seek out when the time comes.

Ant Group's Alipay is linking to Pakistan's NayaPay as part of a push to support tourism to China, Revolut has obtained a license from Mexico's National Banking and Securities Commission, and more.

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.