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In the wake of spiking interest rates and surging deposit costs, bankers are looking for ways to scale back their overall expense bases to protect their bottom lines.
May 8
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JPMorgan sued Javice and Olivier Amar, another Frank executive, for fraud in Delaware federal court in December, claiming they falsified records to show the site had more than four million customers when it actually had less than a tenth that number.
May 8
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The Federal Reserve claims to want to encourage the formation of de novo banks, but its treatment of Custodia Bank calls that commitment into question.
May 8
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Rock-bottom stock prices at midsize banks are fueling concerns that depositors could get spooked, and short sellers are drawing much of the blame. But their persistence may be exposing a broader lack of confidence in the industry.
May 7
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PacWest's shares soared as much as 96% in U.S. trading Friday, while Western Alliance Bancorp rose as much as 59%.
May 5
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The SEC is looking into whether any members of the then-executive team of First Republic improperly traded on inside information.
May 5
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CEO of Global Payments to step down, Raisin names a new U.S. CEO, TopLine Financial Credit Union in Minnesota names new CEO and more in this week's banking news roundup.
May 5
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As foot traffic in stores slows, the prepaid card issuer is upgrading its technology to serve more customers via embedded finance and payroll partnerships.
May 5
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The Federal Reserve took action against a small bank in southern Illinois whose exposures to interest rate changes left it with negative equity last year. The enforcement action comes as regulators review their oversight practices following Silicon Valley Bank's failure.
May 5
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The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.
May 5
