News and Information from American Banker

The Long Island bank is the latest financial institution to use new equity to restructure its balance sheet and unload low-yielding assets. Its stock price tumbled after the shares were priced at a considerable discount.

Affirm partners with Sixth Street to sell its buy now/pay later loans to the investment firm; Associated Banc-Corp promotes Steven Zandpour to deputy head of consumer and business banking; Visa Direct speeds up its money transfers; and more in this week's banking news roundup.

Banks will feel the fallout from a court's decision to strike down a Nasdaq rule that would have mandated more disclosure about the racial and gender composition of corporate boards.

Upbound currently focuses on lease-to-own products. Brigit will help it expand its offerings, but the fintech faced an FTC complaint last year.

We should consolidate federal oversight of the banking industry within the Office of the Comptroller of the Currency. It would rationalize a system that has grown increasingly unwieldy over generations.

The bank said it redeployed proceeds from the sale into high-yielding investments. It also said it would end an employee pension plan to curb expenses.

A close result was complicated by an hour-long adjournment of the New York-based company's annual meeting that angered dissident investors and left them mulling legal action.

From mail theft to video games, a variety of trends shaped scams and fraud in 2024 — and made the schemes more expensive for everyone.

An industry lawsuit seeks to undermine a rule put forward by the Consumer Financial Protection Bureau that would make it much easier for consumers to manage their own financial health.

The Canadian bank received approval from the Federal Reserve to increase its ownership stake in KeyCorp to up to 14.9%. The investment is expected to close by the end of this month.

The post-pandemic increase in consumers falling behind on their credit card bills seems to be tapering off. "For 2025, we're seeing a lot of stability in delinquencies," an industry researcher said.

Brian Brooks, former acting Comptroller of the Currency in the first Trump administration and advisor to the President-elect's transition team, said new agency heads will open up commercial real estate lending, approach credit risk management differently and privatize Fannie Mae and Freddie Mac.

The Arkansas Republican pledges to reduce excessive regulation and align financial policies with GOP goals.

Numerous reports and lawsuits have criticized the health insurer for using algorithms to ramp up denials of coverage.

The Consumer Financial Protection Bureau issued a final rule that would allow banks to either charge $5 for overdraft fees. Alternatively they can charge a courtesy fee to cover costs, or charge higher fees but send annual percentage rate disclosures to the consumer. Bank trade groups sued the bureau to stop the rule.

Execs from U.S. Bancorp and Keybank discuss how emerging technology makes it easier to replicate the near invisible checkout that car-sharing riders enjoy.

Orange Bank and Trust in Middletown says it will operate as a boutique commercial bank, focusing on small business, nonprofits and the borough's sizzling housing construction market.

The Federal Deposit Insurance Corp.'s Q3 Quarterly Banking Profile report highlighted net bank income falling 8.6%, but also showed slow delinquency growth in commercial real estate and core income metrics improving across the banking sector.

Banks that don't focus on credit cards for this market may find larger banks and fintechs are eating their lunch.

The Department of Justice is trying to fix a system that isn't broken. The better move would be to allow the ruthlessly competitive payments marketplace to generate new and better products.

After the Toronto-based bank faced record penalties in the U.S., it made new disclosures about its anti-money-laundering compliance obligations in Canada, where critics say regulators have been too lax.

Leonardo Ayala, who was a retail banker at a TD branch in Florida, faces criminal charges in connection with money-laundering activities.

About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why aren't more using it?

Norwegian fintech Vipps' consumers can use iPhones to make digital payments following Apple's settlement with regulators. Klarna gets hit with a money-laundering fine and more in our weekly global payments roundup.

The bank has hired an advisory firm to assess a potential sale, a capital raise or a strategic partnership after a prior merger fell through.

A report by the Federal Deposit Insurance Corp.'s Office of Inspector General revealed deficiencies in the agency's preparedness for large bank failures.

In testimony before the Senate Banking Committee, Consumer Financial Protection Bureau Director Rohit Chopra said he has no plans to resign ahead of President-elect Donald Trump's inauguration, suggesting he will wait to be fired instead.

Workers in the bank's conduct management intake group joined colleagues at 23 Wells Fargo branches in approving a union.

Financial institutions are adopting AI technology into virtually every aspect of the business. Analysts and fintechs share a framework for protecting data and bank reputations.

Misconceptions about the risks of private credit must not be allowed to affect important policy decisions about an industry that provides vital support to a vast swath of the American economy.

Annualized inflation increased to 2.7% in November from 2.6% the previous month, providing further evidence that the economy remains strong despite restrictive monetary policy.

Institutions like BMO Financial Group and Bank of Nova Scotia saw earnings bogged down by increased loan loss provisions and higher tax rates.

President-elect Donald Trump may opt to bypass Democratic suggestions for minority party seats on the Federal Deposit Insurance Corp.'s board of directors, setting up potential conflicts with Senate leadership over regulatory appointments.

The top executives at some of the nation's largest banks spoke Tuesday about their expectations for the second Trump administration. Deregulation, capital rules, tariffs and inflation were all prominent topics.

The merger pairs the fintech's consumer lending platform with Gen Digital's identity-protection services, such as Norton, LifeLock and ReputationDefender.

The bank suggests it's a scapegoat for Synapse's wrongdoing in a case of banking-as-a-service gone awry.

Allegations of regulators pressuring banks to drop clients and customers because of political views or ties to legal-but-disfavored industries have sparked outrage among conservatives. But requiring banks to serve absolutely everyone would change the nature of banking in ways that aren't conservative.

From Donald Trump to Gunjan Kedia, Jerome Powell to Jamie Dimon, here are the people who will impact the industry this year (including Taylor Swift).

A slower rate of price increases would boost the likelihood of an interest-rate cut that could expand loan demand and lower banks' deposit costs. A higher pace of inflation, however, could derail those catalysts.

Some smaller banks are punching above their weight when it comes to being AI-savvy, industry observers say.

The Honolulu-based bank is taking a $19.7 million pretax loss to rid its balance sheet of low-yielding investments. It joined a parade of banks that have made similar moves.

The industry should rally behind the Financial Data Exchange, which has stepped up to help develop standards and governance protocols for open banking in the United States.

A new question field on the Consumer Financial Protection Bureau's consumer complaint form is tied to an advisory opinion on customer service related to customers' requests for information, industry experts say.

U.S. District Judge Mark T. Pittman wrote that trade groups that sued the Consumer Financial Protection Bureau earlier this year "are likely to succeed on the merits" of the case.

Banking South Korean companies has become a major pillar of the Los Angeles-based Hanmi's balance sheet, with a portfolio of loans approaching $1 billion.

These regulatory announcements in the banking industry are currently open to public comment.

The company said the P2P payment service the bureau seeks to supervise presents no risk to consumers because it is no longer offered in the U.S.

Americans for Financial Reform wants investigations into the directors and executives of Silicon Valley Bank, Signature Bank and First Republic Bank released before the Jan. 20 inauguration.

The unionization push by members of the bank's conduct management intake team has been hotly contested. If approved, it would represent a landmark in the effort to organize workers at the $1.9 trillion-asset bank.

Customers of fintechs affected by Synapse's bankruptcy have been waiting since May for money they had in their accounts, and $65 million to $85 million still appears to be missing.

The cash-and-stock bid for Enterprise Bancorp is expected to close in the second half of 2025. In connection with the deal, Independent plans to raise about $250 million in subordinated debt.

The Federal Reserve's interest-rate cut came too late in the third quarter for banks to capitalize on. Leaders say the fourth quarter will yield better growth.

The chairman of the Federal Reserve presided over the worst inflation in 40 years, generating public outrage that paved the way for Donald Trump's victory in last month's election.

The trend of credit unions buying banks is a lightning rod for controversy in the banking industry. Despite this, such mergers are increasingly common.

The first Asian American to join the National Credit Union Administration board, Otsuka has had a career highlighted by consumer advocacy, a focus on financial stability and support for underserved communities.

The industry hopes that the bigger hurdles to bank mergers under President Biden will fade in the new administration. But populist opposition to consolidation in the tech sector could spill over into banking.

The Consumer Financial Protection Bureau said that, although the Google Pay app has been discontinued, the bureau can make the determination based on past behavior, and that the tech giant could decide to reenter the person-to-person payment space.

The Dallas-based bank has a growing list of legal and regulatory issues — some of them connected to its role in a U.S. government benefits program, and others not.

The holiday season presents online shopping and charity scam risks, and this year presents a novel threat of AI-assisted fraud. Here's how banks are helping their customers avoid these schemes.

Unity Bank in Clinton, NJ, now offers EV charging stations in a collaboration with Encore Energy Group; fintech Beneficient announced its agreement to acquire Puerto Rico-based Mercantile Bank; Trump named payments exec Jared Isaacman to run NASA; and more in this week's banking news roundup.

With a business-friendly crypto and AI overseer, observers expect a softer government approach to tech projects and partnerships.

While it's true that the National Credit Union Administration needs the authority to regulate third-party vendors, credit unions themselves have considerable power to force vendors to observe best practices.

The Financial Stability Oversight Council's annual report underscores mounting challenges in commercial real estate, escalating cyber threats, and regulatory gaps in third-party services and stablecoins, urging stronger oversight and legislative action.

Federal Reserve Gov. Michelle Bowman said Friday that regulators — chief among them the Fed itself — need to do more to combat check fraud, particularly the problem of smaller banks not being reimbursed by larger banks whose checks are altered.

The Consumer Financial Protection Bureau has asked a Texas court to halt Comerica Bank's practices.

Net closings rose to the highest quarterly level in nearly three years. As M&A rebounds, banks are also trimming their physical footprints as customer demand for digital services overshadow in-person transactions.

There is a major opportunity out there, especially for community banks, to displace predatory lenders and earn a healthy return at the same time. It's just a question of making the leap.

After hurricanes and strikes stalled job growth in October, the economy added 227,000 jobs in November.

The long-time bank and financial services technology executive has a record for cutting costs and supporting rapid automation, skills that could be put to work at the 90-year-old agency.

Telcoin is seeking to become the first chartered bank under Nebraska's Digital Asset Depository Institutions regime. Its CEO believes it can become a regulated bridge between crypto and banking.

The Green Bay, Wisconsin-based bank will record a fourth-quarter loss after agreeing to sell $3 billion of low-yield loans and mortgages. The moves leave the bank well-positioned for 2025, CEO Andy Harmening said.

Lisa McGeough will be heading the global bank's U.S. operations. It's just the latest change at HSBC since Georges Elhedery took the reins in September.

Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.

The Toronto-based bank suspended its medium-term growth targets and announced a full-scale review of its strategies following historic anti-money-laundering failures.

The Consumer Financial Protection Bureau is giving the funds to more than 4.3 million consumers harmed by a defunct credit-repair conglomerate, the largest-ever distribution from the bureau's victim-relief fund.

Kelly Loeffer would lead an agency that is critically important to community banks, which make tens of billions of dollars in loans annually under its largest loan program.

The Toronto-based bank set aside CA$1.5 billion in its fiscal fourth quarter to cover potentially bad loans. Executives say higher-than-normal impaired losses could persist next year.

A bot from nCino lets people in the commercial lending department quickly find information in loan documents and in policy manuals that are hundreds of pages long.

A collaboration with Booking.com is designed to encourage consumers to use the bank to manage airline tickets and hotels, a lucrative market that's drawing attention across the financial services industry.

Under the Biden administration, a trio of regulatory agencies have teamed up to limit consumers' access to credit. The incoming administration should force them to stand down.

Donald Felix, who spent a quarter century at some of the nation's largest banks, took the helm at Carver Bancorp last month. Felix is devising a plan to return the 76-year-old Black-managed company to profitability.

Paul Atkins, a noted critic of the Consumer Financial Protection Bureau, will join the Financial Stability Oversight Council, where he will play a role in shaping housing policy.

The Clearing House increased its transaction limit from $1 million to $10 million; Mastercard settled a card fee lawsuit; and other news from the world of payments.

The Federal Reserve chair is not concerned about President-elect Trump nominating his successor well in advance of the end of his term in 2026, saying he is "confident" he will have a productive relationship with the next Treasury Secretary.

The FDIC, OCC, NCUA and Fed each signed onto a letter that detailed strategies for mitigating financial crimes against older Americans.

The Los Angeles-based subsidiary of Royal Bank of Canada posted its strongest performance in six quarters.

A federal judge in Texas has blocked the enforcement of the Corporate Transparency Act, a key U.S. anti-money-laundering law that would require companies to report ownership details by January.

Rep. French Hill, R-Ark. — one of the leading contenders to chair the House Financial Services Committee next year — focused on 'debanking' of crypto and other companies in his questions to the witnesses.

Artificial intelligence systems built to assess creditworthiness are trained on data that implicitly accepts past discriminatory lending decisions as legitimate signals about borrowers today.

The availability and visibility of Bank On-certified accounts, which aim to expand banking access, is contributing to a decrease in the percentage of U.S. households that are unbanked, according to bankers and government officials.

The three largest deals had an average round amount of more than $121 million.

Shares of PSQ Holdings nearly quadrupled as Wall Street reacted to the fledgling payment company's appointment.

The order stemmed from a cybersecurity breach in 2022. The Office of the Comptroller of the Currency also lifted the bank's "troubled condition" status.

In a report Tuesday, credit bureau Experian predicted that government identity systems could get an update in the coming year. Here's what else could happen.

Primis Financial had to delay several reports to the SEC due to an accounting misclassification error, which raised the possibility that the bank's stock would no longer trade on Nasdaq. Executives say they're "optimistic about putting this behind us."

Federal Reserve Gov. Adriana Kugler credited immigration and rising productivity for the U.S. economy's resilience while emphasizing vigilance against risks to inflation and employment stability.

President-elect Trump's embrace of cryptocurrency and decentralized finance is a political gambit that has already paid off. But greenlighting crypto's intermingling with traditional finance would create an asset bubble that would be especially painful to pop.

The Greenville, South Carolina-based company said it would pay $80 million in stock to acquire ANB Holdings and its Miami-area bank.

The demand for embedded finance is not going away, but the initial rollout of banking as a service relied far too much on middleware providers without expertise in compliance and oversight. BaaS 2.0 must feature a more bank-centric approach.

Inclusive leadership supercharges teams and organizational success.

The top five banks in this list closed a net total of 175 branches in the third quarter.

The Consumer Financial Protection Bureau issued a proposal to protect consumer data privacy and categorize data brokers that sell sensitive consumer data as "consumer reporting agencies" under the Fair Credit Reporting Act, a move that could garner bipartisan support.

The Delaware-based bank filed a complaint against two companies that built a WSFS logo display in downtown Philadelphia. Part of the signage eventually broke off in what the bank called an "almost-tragedy."

Federal Reserve Gov. Christopher Waller said the central bank's last framework review was too focused on the post-global financial crisis period and difficult to explain.

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Federal Reserve Gov. Christopher Waller, a Trump appointee, said that while recent inflation readings are concerning, monetary policy would remain restrictive even if the central bank cuts interest rates by another quarter-point this month.

Banks have been returning some funds to fintech customers affected by the Synapse collapse, but a multimillion-dollar discrepancy between how much Synapse says customers are owed and how much the banks say they have remains.

The two bills would require banking agencies to study artificial intelligence and its application in the banking sector, and would codify findings from an earlier AI working group formed by the committee.

As 2024 comes to a close, trends such as open banking, fights over credit card fees and the future of faster payments are still in flux.

Several companies filled leadership posts throughout the country, including Clarion County Community Bank's hiring of Travis Heiser to become its CEO.

The technology has the potential to democratize access to knowledge about financial services, but like any tool, it must be used carefully and responsibly.

Wall Street has cheered President-elect Trump's selection of Scott Bessent to lead the Treasury because of his moderating influence and expertise, but his profile as an establishment figure in an anti-establishment administration could undermine his authority.

As the banking industry becomes increasingly technology-dependent, wise bank leaders recognize that a bank is not solely defined by its buildings, technology or pricing. It is human connections that truly set a bank apart.

Items include estimations of President-elect Donald Trump's impact on fintech funding, the fallout from VyStar Credit Union's tech moves and more.

The U.S. is well behind other countries in implementing open banking and delivering its benefits to customers. Brazil's success in that area can serve as a useful model.

Oden, head of U.S. wealth, private banking, asset management and premier banking at HSBC, was one of the first in the industry to build an online wealth management platform.

The inquiry by securities regulators came in response to reporting that bank employees pushed products in ways that misled customers as they sought to meet their sales targets.

The Consumer Financial Protection Bureau has long been a target for conservative ire, but dismantling it would require Congress' cooperation.

The company's stock price has jumped 23% since the election, as investors bet that federal student loans will get curtailed, providing more opportunity for the private sector.

The Boca Raton, Florida company is seeking to attract deposits with a product that more closely resembles the strategy many fintechs typically employ.

Buy now/pay later firms launched new products and announced new operational strategies this week as they prepare for an expected increase in demand this holiday shopping season, while Revolut's CEO laid out plans for 2025.

November's roundup includes consumer doubts plaguing the reputation of USAA, reviews of the Consumer Financial Protection Bureau's actions and more.

The founder of a bank whose mission is to reduce atmospheric carbon dioxide is undaunted by the prospect of a more fossil-friendly Trump administration.

"Too big to fail" banking giants like to masquerade as community banks when it suits their purposes, but they will never be able to replace real, local bankers with deep ties to their customers.

The Sandy, Utah-based credit union opted to part with its two New Mexico branches to focus on other geographies. At least one expert expects an uptick in branch sales as more credit unions seek to "right-size" their networks.

In a string of speeches last week, the top federal banking regulators outlined goals and framed their thinking about artificial intelligence in financial services, but the biggest questions around liability and widespread adoption remain unanswered.

Micro-, small- and medium-sized businesses have traditionally been a tough nut to crack when it comes to serving up actionable insights. Payment data is helping to change that.

Median growth among small U.S. lenders was 1.2% for the third quarter. Bankers are hoping lower interest rates will boost demand, but borrowers aren't jumping.

The Knoble, a nonprofit that brings banks, credit unions, payment networks and law enforcement together to detect elder and child exploitation and human trafficking, has worked with more than 600 banks.

The National Credit Union Administration lacks the authority to regulate third-party vendors that supply vital services to the industry. This creates a major risk to credit union customers and the broader U.S. economy.

Banks like Fifth Third have increased security measures at their branches, while some potential robbers are turning to cybercrime.

The president-elect had billed his hardline stance on the border and promised deportations as a solution to tight housing markets. Experts say those policies, at least in terms of housing, could do more harm than good.

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Ana Botín's fireside chat with Chana Schoenberger at the American Banker Most Powerful Women in Banking Conference will delve into her extensive career

Delve into the complexities of navigating financial regulations within today's dynamic economy.

California Department of Financial Protection and Innovation Clothilde "Cloey" Hewlett will step down Dec. 30.

Industry observers say the U.S. securities industry's migration to next-day settlement in May 2024 was a technology success story, which has encouraged the U.K. and the EU to follow suit.

The use cases are growing and banks don't want to risk being left behind, especially with younger customers who are more open to the technology.

St. Paul, Minnesota-based Bremer Financial agreed to sell for $1.4 billion in cash and stock. It followed a yearslong legal battle between the bank and its largest shareholder that ended with a settlement this year.

Reps. Andy Barr, R-Ky., and French Hill, R-Ark., leading Republicans on the House Financial Services Committee, pushed back against Federal Deposit Insurance Corp. Chair Martin Gruenberg's characterization of the Synapse collapse in his July brokered deposits proposal.

Natural disasters are becoming more frequent and more severe, and victims will always require support from their banks. A plan for delivering that support needs to be in place before disaster strikes.

While companies tend to amp up warnings to consumers about fraud and scams during the holidays, institutions may also need to bulk up their defenses.

The top five community banks averaged a return on average assets of 6.27% as of June 30.

Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.

While the risks, benefits and magnitude of artificial intelligence's impact on financial services remain unclear, agencies should keep an open mind toward the technology and avoid reflexive risk aversion in bank supervision, Federal Reserve Gov. Michelle Bowman said.

The Dallas bank's new CEO, Thomas Shafer, served in top roles at a number of banks that were subsequently acquired before he stepped away from the industry in 2022.

In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial system vulnerable to shocks.

The Columbus, Ohio-based regional launched Lift Local Business in October 2020 with a $25 million ceiling. Four years and $133 million later, the program is still going strong.

The bank and payment company are using the technology that underpins digital assets to improve interoperability for international transactions, a major point of friction in trade finance.

The Federal Reserve released additional information about its periodic review of its monetary policy strategy, tools and communications framework; TD Bank Group announced Michelle Myers will succeed Anita O'Dell as global chief auditor; Provident Financial Services will expand its commercial lending team; and more in this week's banking news roundup.

The Federal Reserve released the volume of activity on its instant payments network since its launch last summer, showing a surge in usage between July and August.

A punitive tax on payments sent overseas to the families of immigrants would have a cascading set of consequences — all of them bad.

The niche buy now/pay later firm is looking for differentiation in a crowded market with recognizable brands like Klarna, Affirm and Afterpay.

The 2.0 version, expected to launch next year, will provide more detailed responses based on more complex, humanlike thought processes.

The breach, which occurred earlier in November, did not directly impact customer operations, but a threat actor stole data meant for customers.

The North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western part of the state.

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.

The contract gives the nation's oldest bank access to more than $3 billion in deposits a month. Comerica, the current administrator, has received a three-year extension of service to help with the transfer.

The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling victim to a crypto scam.

Acting Comptroller of the Currency Michael Hsu said that while artificial intelligence is a potentially transformative technology, regulators should be wary of waiving liability for its use in banking.

Existing efforts to reform the Federal Home Loan Bank System may look dead on arrival in a Trump administration, but the proposed Department of Government Efficiency may not be able to resist such low-hanging fruit.

The embattled crypto bank announced that it will reduce operations and move to preserve capital after losing its banking partner earlier this month.

Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.

The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.

A new chief risk officer was among the appointments announced Wednesday, as CEO Michael Rhodes began to put his imprint on Ally.

The Federal Reserve governor said the Supreme Court ruling could bring needed transparency and efficiency to regulatory policymaking.

Whoever is named SEC chair by the president-elect is likely to take a lighter hand on crypto, AI and "regulation by enforcement."

Sen. Mike Rounds, Rep. French Hill and former FDIC Chair Jelena McWilliams were among the speakers Tuesday at the American Fintech Council's Policy Summit.

In a congressional hearing, top officials from the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency said no new rules will be adopted or proposed this year.

The payment company is using its Xoom transfer app to bring PYUSD to a broader market; while Barclays is reportedly in talks with Brookfield Asset Management to sell a portion of its payments business. That and more in our global payments news roundup.

As banks continue investing in technology to boost productivity, they aren't losing sight of their call centers' human sides. Even as AI grows in importance, agents are more important than ever

The fintech's Cash Out product charges the equivalent of 300% interest, the Attorney General alleged.

Robert Thompson was charged with using nonpublic information about New York Community Bank and Capital One to execute stock trades. His guilty plea could come with up to 25 years behind bars.

Banks solved the issue of consumer data sharing years ago. Why is the Consumer Financial Protection Bureau stepping in now, with a rule that could make sharing data less safe and secure?

By adding Affirm, major now/pay later partner, to its Flexible Credential, the payment network is deepening its embrace of a popular product that's not going away.

The five-part framework suggests both technical and governance solutions to protect consumers from losing money to scammers and fraudsters.

Small Business Bank in Lennox, Kansas received another cease-and-desist order from the Federal Reserve for failing to comply with anti-money laundering and Bank Secrecy Act requirements for the second time in 14 months.

Lower borrowing costs, reduced exposure to the urban office sector and flattening vacancy rates could collectively save lenders from beleaguered corners of the commercial real estate market.

The companies held out hope that they'd get skeptical regulators to sign off on their $286 million deal before determining that canceling it was in their best interests.

In a Senate Judiciary hearing Tuesday morning, some Republican lawmakers signaled openness to joining their Democratic counterparts in supporting the Credit Card Competition Act.

The Cleveland-based bank now has commercial lending teams in both markets, including a team it recently hired away from Huntington Bancshares.

Industry Bancshares has been bogged down for years with unrealized losses. The Federal Reserve issued a cease-and-desist order against the firm, following similar actions by other agencies.

Gruenberg, the Federal Deposit Insurance Corp.'s longest-serving board member, will step down in January, marking the end of an era after nearly 20 years on the agency's board of directors.

The Most Powerful Women in Credit Unions honorees discuss their response to inflation and the challenges facing underserved communities.

The U.S. is alone among G7 nations in not allowing nonbanks direct access to vital central bank payments rails. It's past time for regulations to catch up with clear consumer preferences.

The next Republican-led FDIC board will inherit a legacy of sexual misconduct and low morale brought to light last year. Despite the breadth of that challenge, industry watchers believe the agency's new leadership can deliver meaningful change.

This year's honorees demonstrate the courage and experience necessary to address the rise of digital commerce, AI, bank and fintech rivals.

Buy now/pay later popularity has been on the rise as more consumers are turning to short-term installment lending to finance everyday purchases. The Swedish financier will find out if that momentum will be a winner with investors in the U.S.

The Securities and Exchange Commission accused a former supervisor with the Federal Reserve Bank of Richmond of trading New York Community Bank and Capital One stock based on material nonpublic information.

The pro-business, deregulation-friendly administration is taking office at a time when economic conditions are improving for fintechs and their investors.

While many banks and financial service companies play out on the global stage, the industry itself can be smaller than it seems. Many of the honorees on this year's list worked at the same companies during their careers. Here is a look at those connections.

Some lenders are once again hiring mortgage lenders, but memories of the painful staffing cuts they were forced to make over the past two years remain top of mind.

Huge portfolios of outstanding private credit, issued by lenders completely free of banklike supervision and safety and soundness requirements, are almost certainly of lower quality than banks' loan portfolios. If they implode, the damage could be extensive.

Enforcement actions from the Consumer Financial Protection Bureau still fresh in the mind of financial leaders have renewed hopes that a second Trump administration will favorably alter the agency's future.

Consumer Financial Protection Bureau Director Rohit Chopra said it is "fundamentally unfair" that uninsured depositors at Silicon Valley Bank and Signature Bank got a reprieve from regulators while those at First National Bank of Lindsay did not.

Join Arizent and American Banker experts as they discuss whether bankers and other financial professionals got what they wanted from Trump's victory at the polls.

Elevations Credit Union is paying athletes at the University of Colorado Boulder by way of a new credit card. The annual fee, plus two cents per transaction, will go to a collective that provides financial support to Buffaloes players.

The bureau suggested this week that states should remove the exemptions banks enjoy from data privacy laws. California is a prime candidate to act.