Organization Root Tag

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

The New York bank said it called off the acquisition of Amalgamated Bank of Chicago because it has been unable to obtain regulatory approval. But the seller expressed hope that the deal could still move forward.

Citigroup joined the list of banks being investigated over employee communications using unauthorized messaging services.

The Credit Union National Association kicked off its first in-person governmental affairs conference in two years with members sharing concerns about data-privacy rules, cryptocurrency, prospects for industry growth and the potential economic fallout of war in Europe.

No one liked it when interest interest rates hit 21% in the early 1980s, but the actions of the Federal Reserve under Paul Volcker helped save the U.S. economy from true catastrophe. That kind of leadership is lacking in today’s Washington.

The bank’s unified digital plans include personalization and a customized mobile dashboard encompassing all the business a customer does with BofA.

Goldman Sachs Group became the latest bank to be investigated over employee communications over unapproved messaging services.

James Bullard, the president of the Federal Reserve Bank of St. Louis, said the central bank hasn't moved fast enough to tame inflation. He is also urging colleagues to begin shrinking the Fed's balance sheet in the second quarter.

Its modifications aim to help two government-sponsored mortgage investors manage risk and rebuild capital while retaining enough flexibility to fulfill their affordable housing missions, said the Federal Housing Finance Agency’s acting director, Sandra Thompson.

The M&A surge promises to improve the services fintechs offer to many banks. But it's also creating a new class of full-service competitors.

The Federal Reserve and the FDIC are weighing changes to their policies for reviewing mergers and acquisitions, and that’s creating a sense of urgency among bankers to cinch deals now.

Senate Banking Chair Sherrod Brown said Thursday he will try again next week to advance President Biden’s five Federal Reserve picks past a blockade led by ranking Republican Pat Toomey on Sarah Bloom Raskin’s nomination to vice chair of supervision.

The move confirms speculation that the Federal Housing Finance Agency would return to a pre-pandemic plan to tighten requirements for mortgage lenders and servicers that work with two government-sponsored enterprises.

The Federal Reserve's capital guidance for S corporations is hindering some community development banks' access to the Treasury's $9 billion Emergency Capital Investment Program. The Fed has offered exemptions in the past, so why isn't it doing so now?

Community lenders may choose to stop serving small businesses rather than absorb the expense of collecting information on race and ethnicity under a proposal by the Consumer Financial Protection Bureau.

The London-based bank said it is cooperating with a Commodity Futures Trading Commission probe into the use of “non-HSBC approved messaging platforms for business communications.”

The Federal Reserve formally adopted tough, sweeping restrictions on officials’ investing and trading, aiming to prevent a repeat of the ethics scandal that engulfed the U.S. central bank last year.

The Providence, Rhode Island, bank expects to finalize its purchase of 80 HSBC Bank branches on Friday and complete a systems conversion over the weekend. Its pending deal for Investors Bancorp is on track to go through early next quarter, Chief Financial Officer John Woods said.

Eun Young Choi, a senior counsel for cybersecurity at the department, will be in charge of the federal effort to chase thieves and fraudsters involved with digital assets.

Raymond Gatcliffe, the head of Citigroup's commercial bank in Europe, the Middle East and Africa, will replace Richard Banziger, who is retiring after 38 years with the company.