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Tioga-Franklin Savings Bank's failure is expected to cost the Deposit Insurance Fund $5.5 million. It is the fifth bank to fail this year, the most since 2023.
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The Office of the Comptroller of the Currency has granted Sau Paulo-based Itaú Bank — the largest bank in Latin America — permission to set up shop in Miami.
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The bank's decision to transfer two of its exchange-traded funds to the Texas Stock Exchange is an effort to better align the funds with their investment thesis, the bank said.
2h ago -
The U.S. Court of Appeals for the 8th Circuit is set to decide whether a lower court's decision that found the Federal Reserve mispriced debit interchange limits in the Durbin Act stands. Analysts say the battle will pressure banks toward faster payment options.
3h ago -
Brent Reston will serve as BMO Financial Group's inaugural chief digital officer; LCNB Corp. appoints Susan Zaunbrecher to its board; HSBC and Standard Chartered complete a bank-to-bank tokenized deposit transaction on Swift's blockchain-based ledger; and more in this week's banking news roundup
4h ago -
The bank has invested in Payload, a company that has grown quickly selling new processing technology to real estate companies, with plans to expand into other industries with multiparty transactions.
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