Allissa Kline

The Bank of New York Mellon had 117 different AI solutions in production at the end of September, Chairman and CEO Robin Vince said. That's up 75% from the second quarter.

The Canadian bank plans to sell the branches, which are mostly in the Midwest and Great Plains, to First Citizens Bank in North Carolina. At the same time, it plans to build 150 branches over the next five years in markets with longer-term growth prospects.

Amid a surge in bank mergers, Citizens CEO Bruce Van Saun said the Providence, Rhode Island-based bank is largely focused on organic growth. "It would have to be a pretty high bar for us to go down that path," he said.

The megabank's multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.

The regional bank has launched a digital student banking center that's part of a broader strategy to focus on relationship-building.

Don McCree, who has led commercial banking at Citizens since 2015, plans to retire next year. His successor, Ted Swimmer, who was in charge of capital markets, took over on Tuesday.

The Oklahoma City native, who joined Truist in early 2024, oversees a mix of businesses including commercial and corporate banking, commercial real estate, investment banking and wealth management.

For the fifth consecutive year, Fraser is American Banker's Most Powerful Woman in Banking. The CEO, who is nearing her fifth anniversary in the job, remains keenly focused on generating higher revenues, cutting expenses and closing the profitability gap with peers.

Fifth Third announced it plans to buy the Dallas bank in a $10.9 billion transaction.

Many banks lowered the interest rates they pay on certificates of deposits and high-yield savings accounts in September, capitalizing on the Fed's 25-basis-point cut.

The Harrisburg, Pennsylvania, community bank agreed to acquire 1st Colonial Bancorp in Mount Laurel, New Jersey, in a $101 million deal that would help deepen its presence in greater Philadelphia.

The American Bankers Association's Economic Advisory Committee expects the economy to grow, albeit at a slower pace than it previously anticipated. The group pointed to stubbornly high inflation and a weakening job market.

The head of Santander's stateside operations built a career in banking by finding ways to "yes" to opportunities, even if they didn't seem like "the perfect fit," she said.

QNB's proposed $41 million deal to acquire The Victory Bancorp in Limerick, Pennsylvania, is set to create a community bank with $2.4 billion of assets.

The credit card giant has reached an agreement to settle a class-action lawsuit involving its coupon-finding browser extension. Content creators had accused Capital One of stealing their sales commissions.

The Toronto-based bank named Rahul Nalgirkar as incoming finance chief. Nalgirkar, who joined BMO in 2022 from Fifth Third, will succeed the retiring Tayfun Tuzun, who came to BMO in 2020 after working at Fifth Third.

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

The Denver-based bank-holding company's pending acquisition of Vista Bancshares in Dallas is an opportunity to expand into key fast-growing Texas markets and deepen its talent bench, CEO Tim Laney told analysts.

At a banking conference this week, there was growing optimism that a key regulatory threshold will be raised from $100 billion to $250 billion.

Sherwood leads direct-to-consumer auto and personal loans, cards and secured lending at the bank where she's spent her whole career.