Retail & Commercial

It would be a mistake for regulators in the U.S. and Canada to delay the rollout of rules supporting open banking. Fears of bank runs as a result of customer access to their own financial data are overblown.

Whitney Stewart Russell, President of Digital Solutions at Fiserv, speaks with Chana Schoenberger, Editor-in-Chief of American Banker, about how turmoil in the industry and the economy is playing out as banks work to become more digital.

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.

The parent of the $1.1 billion-asset CBI Bank & Trust said it would buy McLaughlin Holding and its SENB Bank unit.

If history is any guide, periods of disruption in the industry are followed by regulatory resets, which in turn force banks to compete for the talent needed to meet new compliance demands.

Both loan demand and credit availability have contracted sharply, according to senior executives at several of the nation's largest banks. Their comments came against the specter of a potential recession.

Javice has asked a Delaware federal judge overseeing JPMorgan's fraud lawsuit against her to allow her to demand documents from the bank and firms that advised it on the $175 million acquisition of her college loan planning site.

The state's law does not cap rates at the level preferred by consumer advocates, but it does limit the availability of payday loans that carry annual percentage rates between 36% and 50%.

C.S. Venkatakrishnan told his investment bankers that he would continue to invest in the unit, as the lender looks to stem a slew of recent departures in New York.

Old National relocates Louisville office following mass shooting in April, American Express brings back $1 million in grants for historic eateries, Adyen speeds payouts for gig workers and more in this week's banking news roundup.