The Latest

In this edition of American Banker's news quiz, catch yourself up on the latest news surrounding Project 2025, Patelco Credit Union's cybersecurity breach, fines against Citigroup and Fifth Third and more.

The megabank is working with the digital lending fintech Numerated to automate transferring and analyzing important financial data from borrowers.

First Internet Bank and Nbkc bank are among those exploring ways to automate the traditionally manual task of verifying business customers.

Royal Bank of Canada reorganizes its executive leadership ranks; pending startup BankMiami gets approval from Florida's Office of Financial Regulation; Rize Credit Union's Julio Jimenez-Wenz joins Nevada Commission on Minority Affairs; and more.

Fizz offers a card that enables undergrads to slowly build a debt record based on healthy spending habits, providing an alternative as regulators pressure how financial services are marketed to that demographic.

After its planned sale to a larger competitor fell through, the renamed bank plans to expand into new markets, starting with St. Louis.

With Americans suffering from high housing costs and declining supply, we cannot afford to watch a massive government-sponsored enterprise sit on billions in retained earnings.

Two days after the megabank was hit with $136 million of fines, Citi executives said they aren't changing the company's full-year expense guidance. Citi has 30 days to submit a plan to regulators showing that the bank has allocated enough resources to achieve compliance in a timely and sustainable manner.

Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.

The San Francisco bank's interest expenses continue to rise as depositors switch to higher-yielding options. At the same time, soft loan demand from business customers is putting a lid on how much interest Wells is collecting from borrowers.