Retail & Commercial

The Federal Deposit Insurance Corp.'s proposed rule aims to improve record keeping for custodial accounts, while the merger policy would increase regulatory scrutiny for combinations involving the largest banks.

The New York community bank cited the contribution of BaaS to its core financial results, evolving regulatory expectations, and the cost of talent and technology needed to scale as factors in this decision.

St. Mary's Bank in New Hampshire tries to serve members as it has for 116 years, while dealing with today's cybersecurity and fraud concerns.

Independence Bank of Kentucky said 14 customers had reported receiving the bills, which included text such as "for motion picture purposes."

The company, a pioneer in AI-based lending, says improvements to its models and long-term commitments from the banks it works with will bring about positive returns in the third and fourth quarters. 

EverBank Financial in Florida said the deal would give it $900 million of loans and $2 billion of deposits. Should the deal close in early 2025 as planned, it would end a long saga for Sterling.

Community bankers have found that demonstrating efficiency, providing proper training and describing use cases can help get employees on board with AI products.

At a New York event, industry practitioners shared how they are addressing cultural, compliance and logistical objections to making loans based on bank account data.

Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income.

Banks should embrace Kamala Harris' effort to drive sustainable, equitable economic growth. Doing so will open them up to underserved communities where they can build customer loyalty among a population primed for rapid development.