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U.S. Bancorp is splitting its payment services business in half; Flagstar Financial continues to fill out its leadership with an eye toward tech and risk management; First Horizon authorized an additional $350 million in stock buybacks for its $1 billion share repurchase plan; and more in this week's banking news roundup.
November 1
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The agency said VyStar customers took on fees and credit report demerits because they could not access banking functions for months following an attempted upgrade.
November 1
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HomeStreet and FirstSun are working to devise a new formula after the Texas Department of Banking and the Federal Reserve declined to approve their merger application.
November 1
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The Home Loan banks have been a stable source of community bank funding for generations. An unnecessary regulatory crackdown now puts that reliability in question.
November 1
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The buyer said it would pay $127 million in stock to acquire William Penn Bancorp in suburban Bristol, Pennsylvania.
November 1
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The Federal Reserve began cutting rates in September. The December meeting is its last of 2024. Will the cutting continue, or will there be a pause? Doug Peta, Chief Strategist, U.S. Investment Strategy, at BCA Research, discusses the meeting and future policy.
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Systemic racial inequality has long been a drag on the U.S. economy, and nowhere is that more apparent than in the housing market. There are smart strategies that would even the playing field.
November 1
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Initial employment data shows virtually no job growth in October. With the Federal Reserve's focus on the labor market, the reading could seal the deal for a November rate cut.
November 1
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Former Treasury Secretary Steven Mnuchin and his investment firm Liberty Strategic Capital are seeking to more than double his indirect ownership stake of Flagstar Financial — formerly New York Community Bank — to 22.9%, according to filings obtained by American Banker.
November 1
