At an American Bankers Association event, Sen. Jon Tester, D-Mont., who's up for reelection this year, said that he hopes the Durbin-Marshall credit card bill won't go anywhere and criticized the Federal Reserve's debit interchange proposal.

In the wake of multiple successes in 2023, the labor movement in the U.S. is continuing its efforts to expand. Recent successful union elections at Wells Fargo branches should be a wake-up call to the industry.

Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.

Increased federalization of the U.S. banking industry would be a disservice to consumers and the economy. The court must act to protect the vibrancy of the dual-banking system.

Bank mergers and acquisitions have slowed in recent years amid recession fears and other economic uncertainties. But bank consolidation is a century-old trend that's expected to rev up again as early as this year due to higher costs, tougher regulation and fierce competition.

PNC announces a new head of corporate and institutional banking; Huntington hires JPMorgan exec to lead HR; former HSBC banker returns as the firm's new U.S. CEO; and more in the weekly banking news roundup.

Like many of its peers, the bank is evolving its virtual assistant to be more personalized and to incorporate a large language model, but it's not quite ready to turn on customer-facing generative AI.

Peapack-Gladstone's wealth unit is pursuing an ambitious de novo expansion in New York and perhaps elsewhere because M&A has become expensive as private equity money has inflated seller expectations.