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Just weeks ago, prospects seemed strong for bank stocks to regain ground after a volatile 2023. But renewed credit concerns stemming from issues at New York Community Bancorp, and the increasing odds that interest rates will remain high for months, have dampened that outlook.
February 7
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Anne Clarke Wolff, a longtime Most Powerful Women in Banking honoree, on why she switched to starting her own investment bank advisory firm.
February 7
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Virgin Money has cut about 150 jobs and 39 branches thus far in 2024, the Central Bank of Nepal has hired ACI Worldwide to build a payment switch to enable interoperable card payments for merchants, and more.
February 7
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As virtual assistants become central to banking, financial institutions of all sizes must embrace and leverage this transformation to redefine the customer experience.
February 7
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The top five banks and thrifts have more than $1 trillion in combined commercial and industrial loans as of September 30, 2023.
February 7
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Former Flagstar CEO Alessandro DiNello, who had been New York Community's nonexecutive chairman, was named executive chairman after the Long Island bank's stock price fell by more than 59% in a week. New York Community also issued updates on both its deposit situation and its search for a new chief risk officer.
February 6
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The $18.5 billion-asset institution saw member growth increase by 22% year-over-year and fund levels surge in the first six months of last year after deploying a new deposit origination platform.
February 6
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Car loan delinquencies are worsening across all age groups and income levels, as high interest rates and elevated car prices take a toll, according to the New York Fed. But executives at some large auto lenders remain relatively confident about their customers' ability to stay afloat.
February 6
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National Credit Union Administration Chair Todd Harper Tuesday revealed plans to mandate separate reporting of overdraft and nonsufficient funds fees for credit unions with over $1 billion in assets, which he said would enhance equity and transparency in fee structures.
February 6
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Characterizing them as 'schemes' unfairly impugns a service that cash-strapped consumers value and have come to count on.
February 6
OppFi
