Allissa Kline

Fears of a recession intensified after President Trump unveiled his plan to impose a minimum 10% tariff on all U.S. imports, and the KBW Nasdaq Bank Index tumbled by nearly 10%.

The first year of Otting's tenure as the New York lender's CEO brought substantial change, but the job isn't done. His goal: to build a powerhouse, profitable regional bank.

Terry Dolan, vice chair and chief administration officer at the Minnesota bank, had been at the company for more than 25 years.

The bank now offers personal loans up to $50,000 to State Farm customers, the latest step in its effort to broaden its customer base by teaming up with other companies.

The largest U.S. banks are facing shareholder votes on a number of politically charged issues — some backed by conservative groups and others championed by organizations with a more progressive bent.

The number of shareholder proposals appearing in banks' proxy statements is down significantly this year, due to Trump-era regulatory changes and new concerns about political blowback.

Banks such as Texas Capital and Synovus say they're learning from anti-money-laundering failures elsewhere. They emphasize the importance of having enough compliance staffers — and ensuring they have the necessary skills.

The U.S. arm of Spanish banking giant Banco Santander is offering a high-yield savings account through its digital bank, Openbank, to eligible Verizon customers, a move that will introduce Santander to millions of potential new customers.

The regional bank, which hired a commercial banking team away from Citizens Financial Group, has identified growth opportunities not only in the Garden State, but also in Pennsylvania and Texas.

The Trump administration's attack on diversity, equity and inclusion programs raises the question: Will big banks continue their support of minority depository institutions?

As steep tariffs on Canadian goods took effect this week, banks on both sides of the border expressed concern about the economic fallout and the uncertainty their customers face.

The Los Angeles-based parent company of Bank of Hope expects to complete its acquisition of Honolulu-based Territorial in April. The $79 million deal faced challenges when an investor group made a competing bid.

The island's largest bank promoted President Javier Ferrer to CEO, effective July 1. He will succeed Ignacio Alvarez, who will retire from the company at the end of June.

Banks' latest annual reports, filed in the early weeks of the second Trump administration, provide a window into how the industry is adjusting to a new political climate.

The third-largest Canadian bank by assets is preparing itself and clients for the Trump administration's proposed 25% tariffs on Canada and Mexico.

U.S. District Judge Amy Berman Jackson agreed to temporarily block the Trump administration from firing more CPFB employees and said the White House could not delete or destroy any of the bureau's data or databases.

Consumer and employees groups are seeking a restraining order against CFPB acting Director Russell Vought, arguing that he was unlawfully installed and has "no power to direct" the bureau.

The mayor and city council of Baltimore, along with a Maryland-based economic justice group, are suing the bureau and its acting director, claiming that the recent decision to "defund" the CFPB will leave it unable to support communities.

Large banks are starting to disclose the compensation they awarded to their CEOs last year. Early signs point to a bounceback after CEO pay fell in 2023.

Joseph Otting, who is leading Flagstar's turnaround, said potential buyers may be interested in acquiring the regional bank once it gets past certain challenges.