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Natural disasters are becoming more frequent and more severe, and victims will always require support from their banks. A plan for delivering that support needs to be in place before disaster strikes.

While companies tend to amp up warnings to consumers about fraud and scams during the holidays, institutions may also need to bulk up their defenses.

The top five community banks averaged a return on average assets of 6.27% as of June 30.

Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.

While the risks, benefits and magnitude of artificial intelligence's impact on financial services remain unclear, agencies should keep an open mind toward the technology and avoid reflexive risk aversion in bank supervision, Federal Reserve Gov. Michelle Bowman said.

The Dallas bank's new CEO, Thomas Shafer, served in top roles at a number of banks that were subsequently acquired before he stepped away from the industry in 2022.

In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.

The Columbus, Ohio-based regional launched Lift Local Business in October 2020 with a $25 million ceiling. Four years and $133 million later, the program is still going strong.

The bank and payment company are using the technology that underpins digital assets to improve interoperability for international transactions, a major point of friction in trade finance.

The Federal Reserve released additional information about its periodic review of its monetary policy strategy, tools and communications framework; TD Bank Group announced Michelle Myers will succeed Anita O'Dell as global chief auditor; Provident Financial Services will expand its commercial lending team; and more in this week's banking news roundup.