The Suffolk, Virginia-based bank has agreed to pay more than $200 million for Old Point Financial in Hampton. It announced the deal just two days after its previous acquisition closed.
President Trump's tariffs on imported vehicles threaten to drive up auto prices at a time when more car owners are already drifting into delinquency on their loans.
Fears of a recession intensified after President Trump unveiled his plan to impose a minimum 10% tariff on all U.S. imports, and the KBW Nasdaq Bank Index tumbled by nearly 10%.
The federal Small Business Investment Company program has seen a spike in interest since a new rule incentivizing support for early stage companies took effect in 2023. Now there is growing political support for ways to further bolster the program.
The Consumer Financial Protection Bureau said in a court filing that it will repropose a rule requiring lenders to report small-business loan data, citing legal challenges.
Employees are using ChatGPT without telling their managers and the IT team. That's not necessarily a bad thing.
The bank technology is launching its signature payment platform in a country where rivals like Square and PayPal are also actively chasing business payments.
FinTech Forward, a collaboration of American Banker and BAI, brings together the research, media, and event capabilities of banking's top two professional information and education organizations.
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A new award will recognize innovations that are changing the way bankers do business.
8h ago
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Financial services executives report seeing an increase in quantifiable value from AI investments in the fifth annual Broadridge survey.
9h ago
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Payments innovation under a second Trump Administration could be up to past and present payment technology executives, per new American Banker data.
April 3
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The state's banking commissioner said the married founders of Valuex Research and Valuex Fintech used investor money for rent, plastic surgery and shopping instead of funding a promised investing tool.
April 2
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SEC Commissioner Hester Peirce said it was important for the agency to not stifle innovation through its regulatory approach.
April 2
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John Kothanek, who leads the crypto exchange's global intelligence team, shares some of the ways the company helps investigate on-chain crime.
April 1
Mobile phones are only going to become a bigger part of how banks interact with their customers, so several institutions are looking to enhance that experience. They are focusing on better ways of opening accounts, verifying identities, interacting with customers and offering new services and features. Here are some of the improvements announced this year.
In the age of big data, banks should be king. After all, which industry knows more about people and how they behave than the holders of deposits? But all that data is useless without leaders who know how to effectively analyze it. American Banker recently polled data and analytics chiefs at banks about the trials and tribulations of big data and the art of finding insightful information. Here are some of their responses.
The era of banks and fintech companies cozying up to each other is in full bloom. Fintechs realize they can better disrupt the industry from within, while banks are looking for partners to help them navigate the digital world. Here's a look at how banks worldwide are buying, investing in and in some cases lending to fintech firms.