Organization Root Tag

The Department of Justice has filed a notice that it will appeal a D.C. District Court ruling that reinstated two democratic members of the National Credit Union Administration who had been fired by President Trump earlier this year.

"During my tenure as CEO, we have never entertained discussions regarding the sale of the company with any financial institution," CEO Michael O'Grady told analysts Wednesday. The Wall Street Journal reported last month that the two banks' CEOs had at least one conversation about a potential merger.

The credit card giant must reckon with the high costs of integration before it can start reaping the benefits from its landmark acquisition. CEO Richard Fairbank said Tuesday that those costs will exceed the company's original $2.8 billion guidance.

The Columbus, Georgia-based bank is working with a financial adviser and has recently held merger talks with at least one rival, people familiar with the matter said.

The Pittsburgh bank is working with the cryptocurrency platform to let PNC customers buy, sell and hold cryptocurrencies.

Sam Altman, the founder and CEO of OpenAI, said the rapidly growing capabilities of AI are rendering many of banks' fraud prevention measures useless and warned of an "impending fraud crisis" if banks don't update their processes.

After edging past Wall Street's estimates, the Cleveland-based bank expressed higher hopes for its loan book as well as the macro environment.

The bank is reportedly considering allowing bitcoin and ethereum to back loans. Volatility in digital assets would make it a difficult market, according to payment experts.

Paxos and Mastercard are among the firms betting that legal clarity will lead to a wider range of stablecoin users.

The Treasury's financial crime agency delayed enforcement of a variety of Bank Secrecy Act requirements for investment advisors in order to gain time to revise and tailor regulations.

Kate Luft, a former chief of staff for Citi CEO Jane Fraser, is now running the company's U.S. retail banking business. In her first interview since getting the job, Luft discussed what banks can learn from airlines and the advantages that incumbents have over fintechs.

The auto lender's earnings outpaced Wall Street's expectations. But shrinking car inventories at dealerships, which stemmed from new tariffs, put a dent in Ally's lending.

The Dallas-based lender, which reported a year-over-year decline in earnings, is anticipating increased loan activity and deposit growth later in the year.

The regional bank's cloud-based software platform will be one of the first of its kind, a top executive said Friday.

The North Carolina-based regional bank still expects its revenue to outpace its spending this year, though if interest rates hold steady, it could "create some risk," a top executive said Friday.

With the big banks honing in on Amex's high-end card turf, Steve Squeri said his company's past success will drive the future.

Private mortgage insurers must accept the FICO alternative as valid collateral before it can be widely adopted by the mortgage industry.

The Rhode Island-based bank plans to use artificial intelligence to boost efficiency and improve customer service. "Everything is fair game," said CEO Bruce Van Saun.

Fifth Third Bancorp in Cincinnati wants to become a bank for crypto platforms. Its CEO believes that stablecoins pose minimal threat to the U.S. deposit market.

The Minneapolis-based bank reported solid commercial growth during the second quarter, with the momentum carrying over into July.