Organization Root Tag

Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.

Barely two years after adopting a bank charter, NewtekOne in Florida plans to expand beyond its roots as an SBA 7(a) lender by growing its alternative loan program.

The financial technology seller plans its own coin and interoperability with PayPal's PYUSD, potentially reaching millions of consumers and merchants and thousands of banks.

More than a year after Synapse went bankrupt, fintech customers who lost money due to the fintech middleware firm's collapse might be made whole through the Consumer Financial Protection Bureau's customer relief fund.

Foreclosure activity surged in the first quarter, underscoring the growing need for borrower support as certain federal protections expired.

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."

The Office of the Comptroller of the Currency's decision to remove reputational risk from banks supervision plans means that one of examiners' most effective tools has been stripped away.

Chief Executive Officer Georges Elhedery was aiming for $1.5 billion in annual cost savings, but HSBC is forecasting hundreds of millions in extra real estate costs as it considers asking more of its employees to work from an office.

Analysts are predicting stronger results this year after a disappointing outcome in 2024.

Deputy Treasury Secretary Michael Faulkender says Basel capital rules need to fit the U.S. economy and avoid discouraging banks from lending.