Thomas Zernick will become chief executive of the Florida bank when Anthony Leo retires at the start of 2024.

After the scandal explodes, Wells Fargo's former chief security officer embarks on a long journey into the legal system.

After soured loans rose above the private student lender's expectations in 2022, its stock price fell 16% on Thursday. One analyst wrote that "persistent credit issues have damaged management's credibility."

Executives cited uncertainty created by surging interest rates, heightened regulatory scrutiny and the potential for a recession.

An article in the Los Angeles Times provides an opportunity for bank executives to address the underlying problems. Instead comes a focus on damage control.

Toronto-Dominion Bank struck a deal to provide financial content for the immigrant-geared CanadaVisa website, part of its bid to win a greater share of the new Canadians who are an increasingly important source of growth for the country's big lenders.

The minority depository institution largely caters to Mexicans in the U.S. Their trust in smartphones and distrust of traditional banking has influenced its approach to developing digital tools.

Grupo Mexico is close to lining up financing to back a more than $7 billion bid for Citigroup's Mexican retail bank Banamex, according to people familiar with the talks.

The bank establishes a committee with the express purpose of addressing employee misconduct. But as the problem of unauthorized customer accounts grows, it stops meeting.

LevelField CEO Gene Grant says its strategy for merging with Burling Bank is super-conservative, despite an intention to serve the digital-asset community. "We've taken everything out of the business plan" that might give regulators pause, he says.

Bank of Montreal, which just completed its $16.3 billion takeover of Bank of the West, expects to be able to gain share even in U.S. markets where the firm only has a sparse branch presence.

The bank, which is beleaguered by digital-asset portfolio forced loan charge-offs that led to a loss in the third quarter and for the full year, climbed to a net income of $2.7 million for the fourth quarter.

A plan released Wednesday by the Consumer Financial Protection Bureau was more aggressive than anticipated, leading to share price declines at Synchrony Financial, Capital One and Bread Financial. "This skews toward the worst-case scenario," one analyst wrote.

In a reversal from five years ago, six of the eight biggest U.S. banks by branch count now offer the loans, which observers see as safer alternatives to payday loans.

JPMorgan Chase is planning to launch a digital bank in Germany as its second international consumer outpost, a move that will create a launchpad for the biggest U.S. bank to further expand in Europe.

As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting.

Consumer Financial Protection Bureau Director Rohit Chopra plans to propose a rule to set late fees at reasonable levels and no longer peg late fees to inflation.

The scandal's roots stretch back more than a decade. In a corporate environment that doesn't welcome bad news, problems fester.

The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.

The Radnor, Pennsylvania-based financial technology company made an unsuccessful bid to buy a bank. Now it is shifting into expense-reduction mode.