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The San Francisco technology company is partnering with Onramp Invest to offer registered investment experts tools for facilitating larger digital asset transactions.

The private student loan market is in flux after one major lender, Discover Financial Services, said it's leaving the sector. Sallie Mae is gearing up to compete for that business, much as it did when Wells Fargo pulled up stakes in 2020.

As regulators repeatedly press banks and fintechs to make sure their artificial intelligence models aren't "black boxes" and comply with existing law, the burden is on lenders to prove they are making such efforts.

Activity from the Bank Term Funding Program has spiked by roughly $50 billion since November, when its rate fell below the level where institutions could earn money by keeping reserves at the central bank.

Lawmakers criticized the Biden administration's Risk Rating 2.0 effort — which was meant to reduce insurance premiums by developing more refined models — as ineffective, arguing that the program has increased rate premiums in vulnerable areas.

Even with the 9 basis point rise this week, they have remained at the same level since mid-December, and that should bring people into the market, Freddie Mac said.

As new CEO Alex Chriss streamlines the payment company's strategy, 2024's first major product rollout stresses data-driven, personalized connections between merchants and consumers.

Williams, who died this week at age 90, was CEO of SunTrust — one of the banks that would become Truist — for many years. He also served on the boards of several organizations in Atlanta, including Coca-Cola.

Former Federal Deposit Insurance Corp. lawyer Mark Black of Virginia pleaded guilty Tuesday to conspiring to sexually exploit children.

The bank didn't unveil any new climate commitments, but mapped out the changes it sees as necessary to decarbonize the heavy-emitting industries it still finances.

A former comptroller of the currency assesses last year's turmoil in the industry and charts a path forward including advancements in regulation.

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

Lloyds Banking Group is cutting around 1,600 roles across its branches, part of a push by the lender to provide more services online.

The Bank Term Funding Program, established during last year's liquidity crunch, will stop issuing new loans on March 11. Until then, banks can still borrow from the facility, though at less favorable terms.

The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.