The Latest

Much of the industry is slimming down, with some banks calling it quits on riskier sectors and selling loans they no longer want. The trend is particularly prominent at regional banks that are preparing to comply with new capital rules.

The Federal Deposit Insurance Corp. issued a cease-and-desist order to Unbanked, Inc. — a cryptocurrency-focused nonbank — for making false claims about FDIC deposit insurance coverage on its crypto-related products Friday.

The board of the Home Loan Bank of San Francisco chose not to renew Teresa Bryce Bazemore's contract that ends in 2024, and has initiated a search for a new CEO.

First Foundation lines up James Britton as its next CFO, AI wealth-platform TIFIN announces additions to its executive leadership team and more in the weekly banking news roundup.

Sen. Elizabeth Warren, D-Mass., and Rep. Katie Porter, D-Calif., said that the Federal Deposit Insurance Corp. could do more to penalize banks that have downwardly revised their uninsured deposits as the agency looks to collect its special assessment.

The five-year employment agreement with CEO Bryan Jordan follows a failed acquisition effort by TD Bank. The deal suggests that Jordan is seen as critical as the Memphis, Tennessee-based bank charts an independent course in the coming years.

The rapid pace of innovation, reliance on a web of vendors and regulatory scrutiny means fourth-party risk is a more pressing consideration than in the past.

Kansas Banking Commissioner David Herndon told American Banker that his agency declared Heartland Tri-State Bank insolvent because of a "very sudden" event that crippled the bank financially.

Stax Payments appointed British financial executive Paulette Rowe as its new chief executive officer, making her one of the few Black women to lead a finance company.

When Bitfinex was hacked, Bitcoin was trading under $1,000. It had skyrocketed to $44,000 by the time the couple was arrested in early 2022, pushing up the value of the stolen assets to $4.5 billion, of which $3.6 billion was recovered by authorities.