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BNY's Carolyn Weinberg believes blockchain technology could be the key to an always-on operating system for the New York-based custody bank.

The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.

U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.

Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.

Five years after the government struggled to disburse pandemic relief checks, the Fed is using improved processing for emergency funds as a reason for banks to get onboard with FedNow.

Revolut receives a banking license, while SumUp introduces its payments hardware. That and more in the American Banker global payments and fintech roundup.

The Trump administration has ordered banking agencies to root out and identify instances of politically motivated debanking while at the same time raising pressure on banks to scrutinize or potentially sever their ties with liberal nonprofit clients. That dynamic creates a compliance puzzle with no obvious answers, experts say.

The McClean, Virginia-based bank said Tuesday that credit quality remained strong in the third quarter, and that it has approved a plan to buy back $16 billion of common stock. It's temporarily tapping the brakes on loan growth as it digests the Discover acquisition.

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

New guidance outlines specific due diligence and oversight steps banks must take, reinforcing that they are ultimately accountable for vendor failures.