Citizens Financial Group, Providence, R.I., promoted Mark J. Formica
Mr. Formica, who had been president and CEO of Citizens' Rhode Island
The bank said it had not yet named a successor to Mr. Formica as
Mr. Steinour now heads the risk management division, where he is
The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
American Banker's 2025 Small Business Banking conference yielded lessons about the need for speed, simplicity and safety in small-business lending. Other key takeaways included the significance of digital payment options and the importance of continuing to process SBA loan requests during the government shutdown.
Nine months after acquiring Heartland Financial, Missouri's largest bank posted a complicated quarter.
The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.
Credit analysts say climate risk could still pose a financial threat to financial institutions, even though the federal government has taken an ax to Biden-era climate guidance.
The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.
