Retail & Commercial

A blizzard of new rules and regulations strikes at the fundamental strengths of the U.S. banking system, and will have negative impacts on both American consumers and businesses.

The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.

Many other organizations have turned to sales of this asset class in order to enhance cash flow or liquidity.

The failures of several midsize banks last year demonstrated shortcomings in the deposit insurance framework and lit a fire among policymakers to take it on. But for some reason that fire went out.

Berkshire Hills Bancorp declined to detail the savings it expects from the downsizing, though one analyst estimated it could shave $3 million from the company's annual noninterest expenses.

Banks and trade groups denounced the Consumer Financial Protection Bureau's final rule to cut credit card late fees to $8, saying they will do everything possible to kill the rule.

False transaction disputes and other individual-level financial fraud cost the industry billions. It's time to join forces and even the odds.

The calling off of the TD-First Horizon deal drew the most headlines, but 14 agreements involving the purchase of a bank were canceled last year.

The Consumer Financial Protection Bureau will release a final rule Tuesday that is expected to save consumers $10 billion a year in credit card late fees. The rule is part of a larger effort by the White House to crack down on illegal fees and price hikes that President Biden will address in the State of the Union.

Long Island-based New York Community Bancorp has a large concentration in loans on New York City apartment buildings with rent restrictions. Property values in that sector have tanked amid higher interest rates, inflation and 2019 revisions to state law.