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The top five banks and thrifts have more than $12 trillion in combined total assets as of the end of Q1 2023.
July 31
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Cloud giants are making major investments in generative AI and large language models. Their financial services clients are mostly in test-and-learn mode.
July 30
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Dream First Bank of Syracuse, Kan. is assuming all deposits and most of the assets of Heartland Tri-State Bank of Elkhart, Kan. following a purchase and assumption agreement with the Federal Deposit Insurance Corp., representing a $54.2 million hit to the Deposit Insurance Fund.
July 28
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The Federal Deposit Insurance Corp. this week launched the sale of an $18.5 billion loan portfolio from the failed bank, a pool of debt tied to major private equity and investing firms.
July 28
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The advance has helped the group pare its declines this year to roughly 10%, easing an earlier drop of as much as 33% following a string of regional bank collapses, including Silicon Valley Bank in March.
July 28
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The top five banks and thrifts have more than $7 trillion in combined total deposits as of the end of Q1 2023.
July 28
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Figure Technologies laid off 90 employees this week, or about 20% of its staff, while it's also interviewing bankers in advance of a planned initial public offering for its lending business next year, according to documents reviewed by Bloomberg.
July 28
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Consumer advocates are protesting specific risk-weighting changes affecting borrowers with lower down payments. Also, a broader increase in requirements may discourage depository holdings of servicing.
July 28
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Dime Community Bancshares tapped insider Stuart Lubow as its next chief executive; BayFirst Financial announced the appointment of Scott McKim as chief financial officer and more in the weekly banking news roundup.
July 28
