Organization Root Tag

The lawsuit alleges mismanagement and fiduciary breaches caused SVB's 2023 collapse, costing the Deposit Insurance Fund $23 billion.

The firms paid $60 million to settle the claims without admitting to or denying the regulator's allegations. 

The Alabama-based regional bank reported stronger earnings on a bump in capital markets fee revenue and lower expenses, but its total loans declined and its charge-offs increased. It expects only modest loan growth this year.

The super-regional bank plans to invest in talent, technology and certain locations in 2025, while keeping its expenses in check, to achieve the promise of the merger that created it, CEO Bill Rogers said.

The incoming administration will have a number of tools at its disposal to immediately pare back stifling federal regulation of financial services and boost the housing market. It should use them.

Toronto-Dominion Bank is moving up the start date for its new chief executive officer, Raymond Chun, by two months and has reduced executives' pay.

After shoring up infrastructure following the scuttled TD Bank acquisition, the Memphis, Tennessee-based institution plans to focus more on mobile banking and new product innovation.

The nation's second-largest bank issued guidance that net interest income will reach up to $15.7 billion by next year's fourth quarter, a 7% increase.

Cash App's parent company Block failed to investigate fraud and unauthorized transactions, and refused to refund customers, the Consumer Financial Protection Bureau said.

The investment banking giant has been the subject of regulatory probes regarding the way it vets prospective clients. So far, that's not driving away potential clients, executives say.

The $678 billion-asset bank highlighted its payments and investment management and trust business as fee generators in the recently ended quarter.

The nominee to lead Federal Housing Finance is head of Pulte Capital Partners, which invests in homebuilding related businesses.

The bank, which owns a minority stake in Viva Wallet, can take over the company in June if its valuation falls before a certain level — which has resulted in a legal dispute with Haris Karonis, the fintech's owner. That and more in American Banker's weekly global payments roundup.

With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.

The bank is "very optimistic" that Trump will appoint financial regulators who are "more balanced" than current agency heads, CFO Daryl Bible said.

The Senate Banking Committee Chair launched an agenda that puts agencies on a shorter leash and separately took aim at the FHFA recent moves.

As Donald Trump returns to the White House, Goldman Sachs is looking forward to the "improving regulatory backdrop."

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.