Retail & Commercial

Ybarra, who leads the megabank's sprawling institutional clients group, plans to depart in the first half of next year. Citi says it's assessing how to allocate his responsibilities.

The Vancouver, Washington, company disclosed in a regulatory filing that Kevin Lycklama was under investigation. It elaborated only to say that the matter did not involve the bank's financial condition.

India's Unified Payments Interface has been an extraordinary success. The Fed should take careful note of how the system came to dominate the Indian economy.

Much of the industry is slimming down, with some banks calling it quits on riskier sectors and selling loans they no longer want. The trend is particularly prominent at regional banks that are preparing to comply with new capital rules.

The Federal Deposit Insurance Corp. issued a cease-and-desist order to Unbanked, Inc. — a cryptocurrency-focused nonbank — for making false claims about FDIC deposit insurance coverage on its crypto-related products Friday.

Sen. Elizabeth Warren, D-Mass., and Rep. Katie Porter, D-Calif., said that the Federal Deposit Insurance Corp. could do more to penalize banks that have downwardly revised their uninsured deposits as the agency looks to collect its special assessment.

Kansas Banking Commissioner David Herndon told American Banker that his agency declared Heartland Tri-State Bank insolvent because of a "very sudden" event that crippled the bank financially.

Generative artificial intelligence could make it possible for borrowers to understand how their behavior reflects their creditworthiness, and create better outcomes for everyone.

Critics complain a bill sponsored by the leaders of the Senate Small Business Committee would reinstate a moratorium on participation in the SBA's flagship 7(a) program by nondepository lenders. Supporters of the bill argue that widening the program could invite more fraud.

The acquisition of Silicon Valley Bank helped push the bank's capital ratio to 13.4% in the second quarter, above its target range. But First Citizens said it would focus on absorbing SVB, and assess the impact of new capital rules, before restarting buybacks.