Consumer banking
The banks invested in bonds at a time when rates were low, and their value has since dropped substantially. While there appears to be very little risk that the banks will ever have to realize the losses, an American Banker data analysis raises questions about whether regulators should toughen their monitoring of interest rate risk.
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Citigroup CEO Jane Fraser said mobile apps and consumers' ability to move millions of dollars with a few clicks of a button mark a sea change for how bankers manage and regulators respond to the risk of depositor panics.
March 22 -
The North Carolina bank's venture capital arm has recently taken stakes in two early-stage companies, including one aimed at helping independent pharmacists, after cashing out on two others last year.
March 22
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Carrie Tolstedt, the former head of retail banking at the scandal-plagued bank, faces 16 months in prison after agreeing to plead guilty to obstructing a bank examination. The plea agreement serves as a warning to senior bank executives who regularly provide information to regulators.
March 21 -
On top of recession fears and elevated regulatory scrutiny, worry about the banking industry's weakness could delay the approval of mergers such as Toronto-Dominion Bank's pending acquisition of First Horizon.
March 20 -
Tolstedt, a key figure in the bank's fake-accounts scandal, could face prison time after pleading guilty to a criminal charge of obstructing a bank examination. She also agreed to pay a $17 million fine to bank regulators to resolve certain civil charges.
March 15 -
AB - podcastConsumers who aren't proficient in English have long struggled to get help from banks in their preferred language. Banks and regulators are trying to fix that, but the solution has taken years.
March 9 -
Senate Banking Committee Chair Sherrod Brown wants regulators to hold public meetings on branch shutdowns in situations where community members request them. His request follows opposition to a closure in a low-income section of Toledo, Ohio.
March 6 -
Robert Hill Jr., who had been CEO of the company before it merged with CenterState Bank in 2020, will resign in April. The company says it's replacing his position with a nonexecutive chairman "as part of a broader, ongoing effort to enhance the independence of the company's board."
March 6 -
The results came a day after it emerged that Canada's second-largest bank doesn't anticipate regulators will approve its deal for Memphis, Tenn.-based First Horizon Corp. by May 27, as it previously projected.
March 2
