Other regional banks are vowing to cut costs, but Huntington Bancshares CEO Steve Steinour says the Columbus, Ohio-based lender is well positioned to "play offense" in 2024.

The global clearinghouse inked the deal with Securrency as part of its push to expand the use of the emerging technology in capital markets.

The New York State Department of Financial Services and the Federal Reserve Board penalized Metropolitan Commercial Bank for failing to prevent $300 million in fraud in a prepaid card program. It is the latest example of a bank being sanctioned in connection with rampant fraud during the COVID-19 pandemic.

"We'll be taking steps to offset expense pressures," CEO Curtis Farmer told analysts after the company reported an 11% year-over-year jump in costs and falling profits.

Executives say the $213 billion-asset company's strong credit performance in the third quarter positions it to pursue loan growth next year.

High deposit costs and low-yielding assets weighed on the company's net interest income, which fell to its weakest level since the first quarter of 2017. But Key executives predicted that a turnaround is coming soon.

Six weeks after unveiling a broad restructuring plan, the North Carolina bank said it has already taken several steps to lower expenses, and that various cost-reduction initiatives are on parallel paths.

After scrambling to launch bots in the early pandemic, banks including Fifth Third and KeyBank are taking the time to thoughtfully design intelligent digital assistants with better navigation and seamless handoffs to human agents.

There are good reasons to be skeptical in the face of predictions of a revolution in banking led by generative artificial intelligence.

Ripple, Coinbase and Circle all received licenses to operate under the nation's stablecoin regulations, which offer more clarity than American rules do.

Worried about the economy and new Fed rules on capital, the bank wants to hang onto its money just in case, CFO Daryl Bible told investors as he outlined second-quarter earnings.

The Rhode Island-based bank is bolstering its cash position in the face of worries about office loans, stricter capital requirements for regional lenders and the possibility of economic shock from overseas conflicts.

The $668 billion-asset company sold investment securities and certain mortgages to avoid more stringent liquidity and other federal requirements for larger banks. Yet CEO Andy Cecere says U.S. Bancorp is "not under an asset cap at all."

Charge-offs at the Detroit-based lender rose last quarter, as borrowers had a tougher time keeping up with their car payments. But so far, credit quality is staying within expectations, and company executives don't anticipate that the rest of the year will be much worse.

The Tennessee bank said a $72 million charge-off tied to a borrower in bankruptcy shaved 10 cents per share off its earnings. Management downplayed the issue, calling it "idiosyncratic," and emphasized that it was growing its loan portfolio.

The bank suffered its third breach in three years, this time by virtue of a vulnerability in Progress Software's file-transfer system. But Flagstar is only one of many such victims.

Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.

How to use, govern and adopt AI were some of the main themes from the Monday event.

The two megabanks continue to shrink their branch networks, with BofA planning to close 20 locations and Wells recently shuttering 15. Both banks are also opening new branches in certain markets.

Executives of the $405 billion-asset bank say that they have completed 40% of a cost-cutting strategy begun earlier this year.