News and Information from American Banker

There's no designated lender of last resort for nonbank stablecoin issuers in either the recently-passed stablecoin bill or the crypto market structure bill being considered, which experts say could mean bailouts down the road.

QNB's proposed $41 million deal to acquire The Victory Bancorp in Limerick, Pennsylvania, is set to create a community bank with $2.4 billion of assets.

The operation washed checks stolen from USPS boxes and used "money mules" recruited on Instagram, causing financial and personal distress for victims.

The money transfer fintech expanded its Austin office 200% to 90,000 square feet as it looks toward accelerating growth in North America. The company also separately inked a new partnership with Upwork to add Wise Platform as an infrastructure provider for freelancer payouts.

Federal Reserve Chair Jerome Powell said in a speech Tuesday that the central bank's policy stance is "modestly restrictive," a stance that will give the central bank flexibility to react to an uncertain economic future.

The credit score provider has developed "focused" language artificial intelligence models purpose-built for tasks like detecting payment fraud, assessing risk and recommending next best actions.

Students are collaborating with credit specialists at the lending platform to build agentic AI models for small business lending and for helping small business owners manage their finances.

Six class action lawsuits seek over $5 million after an insider accessed sensitive records.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that steeper interest rate cuts should be on the table if the labor market continues to show signs of decline.

Excluded from the stablecoin revolution by law, banks deserve the opportunity to participate in the evolution of digital finance. Regulatory clarity on the treatment of tokenized deposits is an essential first step.

A Small Business Administration policy enacted during the second Trump administration blocks not only people who are in the country illegally, but also legal temporary residents and even some U.S. citizens, from accessing government-guaranteed loans.

The deal will give the bank $1.1 billion of loans in a new segment of the equipment finance business.

The Supreme Court will hear a case in December that could overturn a longstanding precedent bolstering regulatory independence. Should the court strike down that precedent, it could have major implications for the independence of the Federal Reserve.

Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president's immigration and fiscal policies will exert downward pressure on inflation.

The credit card giant has reached an agreement to settle a class-action lawsuit involving its coupon-finding browser extension. Content creators had accused Capital One of stealing their sales commissions.

The company is selling its Genius platform to large restaurant and entertainment companies in an attempt to counter the wave of improvements from its rivals.

The agency's announcement that it will consider debanking as part of Community Reinvestment Act examinations is the latest in a series of mystifying pivots by federal banking regulators.

Federal Reserve Bank of St. Louis President Alberto G. Musalem would not directly say whether central bank independence is under threat, instead highlighting that the topic has received more attention.

Stablecore, a recently founded fintech, completed its first funding round with the goal of bringing stablecoin technology to banks and credit unions.

A credit union CEO takes issue with the narrative that the purchase of community banks by credit unions is a dangerous trend. In fact, he argues, it's rare, and when it happens, it benefits the communities those banks serve.

Prior to this week's Federal Open Market Committee meeting, many onlookers thought a Trump-aligned and oppositional voting bloc could emerge, complicating the central bank's message. But the quarterly economic projections show that not to be the case.

Triumph Financial took steps to guard and move scores of cars backing its $23 million loan to Tricolor Holdings after the subprime auto lender filed for bankruptcy last week.

Comerica announced the promotion of Kristina Janssens to be its next chief risk office; Washington Trust hired James "Jim" Brown, an executive from Berkshire Bank, as its chief commercial banking officer; Citizens Financial pledged $20 million to support workforce development programs; and more in this week's banking news roundup.

Between 2021 and 2025, the Japanese bank SMBC has raised its stake in the U.S. investment firm from 4.5% to 20%.

The U.S. Department of Justice declined prosecution after BofA Securities self-reported the violations and fixed major compliance gaps.

PayPal, Google and Mastercard in recent days expanded support for agentic AI commerce. Card issuers will need to respond quickly to compete, payment experts say.

The Treasury Department proposed a rule delaying investment adviser AML requirements to 2028 and sought public comment on implementing regulations for a stablecoin bill passed earlier this summer.

Banks need to recognize that agentic AI is almost certain to upend their traditional business models. Early adopters may be able to grab an advantage, while laggards will be fighting over diminished profits.

AIB was on the verge of collapse when it was bailed out by the Irish government in 2010. Why did its turnaround, which hit a key milestone earlier this year, take so long?

Lendistry, one of the nation's fastest-growing SBA 7(a) lenders, is getting a $25 million infusion from TD's community development arm.

The fintech, which powers debt collections for banks and credit unions, received a "strategic investment" from Vista Equity Partners to expand into agentic AI.

Bankers face a "critical limitation" due to the vast number of oversight agencies and institutions, like social media companies and telecom institutions, that a fraudster might touch on their way to scam a consumer.

The payments company has used an acquisition of digital asset firm Bridge to gain ground, reminiscent of how fintechs have honed in on banks' payment turf for years.

President Donald Trump asked the Supreme Court to reverse a lower court ruling allowing Federal Reserve Gov. Lisa Cook to remain in office pending the outcome of her lawsuit challenging Trump's move to fire her late last month.

The Toronto-based bank named Rahul Nalgirkar as incoming finance chief. Nalgirkar, who joined BMO in 2022 from Fifth Third, will succeed the retiring Tayfun Tuzun, who came to BMO in 2020 after working at Fifth Third.

Alan Childs pleaded guilty to using straw borrowers and falsified loan records to help a timber businessman secure millions in fraudulent loans.

Former employees at First Horizon Bank and M&T Bank committed crimes by misappropriating customer data and stealing money from a customer's bank account.

Andrew Foster, the bank's chief data officer, explained how he has been instilling data discipline across the organization and making the bank's data AI-ready.

The Office of the Comptroller of the Currency will announce Senior staffers overseeing large, regional and community banks early next month, apparently reversing the unified approach to supervision it implemented earlier in the year.

Stablecoins don't compete with payment platforms. They do, however, provide a turbo-powered springboard for new projects that will, just as incumbents are adapting to the new tools.

Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.

Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.

St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.

The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.

State regulator says blockchain tools are key to detecting money laundering and sanctions violations.

The Bank of England may cap ownership, drawing ire from crypto groups that claim that will hinder innovation.

Visa is introducing a premium service to the Middle East, and Lloyds Banking says its cash protection product is showing results. Plus, Brex teams up with Doordash and more in the American Banker global payments and fintech roundup.

A report from Democratic staff on the Senate Permanent Subcommittee on Investigations said accounting firm KPMG gave Silicon Valley Bank, Signature Bank and First Republic clean audits despite internal warnings, fraud allegations and apparent risks of failure.

We must build a small-business finance sector where business coaching is integrated and accessible. Philanthropy can ignite progress in the private sector and banks and community lenders can drive it forward.

Each year, American Banker chooses five teams that embody the spirit of collaboration and illustrate how teamwork can have a substantial impact on a bank's top and bottom lines.

The goal of the regional banking team members is to partner across their respective business lines or service areas to bring in more clients to BofA and to better serve existing clients.

Led by chief SBA lending officer Anna Chung, the team oversees Hanmi's Small Business Administration lending operation, a longstanding component of the $7.8 billion-asset company's business model.

Led by Jennifer Warren, who serves as the head of Wilmington Trust, the teamwork resulted in over $2 billion in revenue expansion for the institutional client services division.

The bank launched Business Essentials, a bundled suite of banking and payment services, following more than a year of development by a cross-functional team from business banking, branch and small business banking, payments, sales and technology teams.

Since the completion of the One Ally project in the first half of 2025, the bank reported 10.5% net deposit growth from customers who initially were not deposit holders.

Market watchers expect the Federal Open Market Committee to announce a 25 basis point rate cut today, but are also watching for signals of more cuts to come and how many members push for a larger 50 basis point cut.

A bill on reciprocal deposits passed the committee unanimously, while another measure on custodial deposits passed by a wide, bipartisan margin.

The payment company has made a series of moves to bolster its stablecoin and other coins to build a market for digital assets. Its Links feature adds to the strategy.

Google has launched its Agent Payments Protocol, an open protocol that establishes a payment-agnostic framework for users, merchants and payments in agentic AI. Payment companies such as Adyen, American Express, Mastercard and PayPal helped develop the protocol.

Prosecutors say Daryl Heller lured 2,700 investors with promises of safe ATM profits but misappropriated $185 million.

The companies have signed a new data-sharing agreement that includes an undisclosed pricing structure. Plaid said it will not pass the new costs on to its clients.

A group of Democratic Senators led by Elizabeth Warren, D-Mass., urged regulators to keep the 2023 Community Reinvestment Act overhaul, saying the rule was carefully crafted with bipartisan input.

The Denver-based bank-holding company's pending acquisition of Vista Bancshares in Dallas is an opportunity to expand into key fast-growing Texas markets and deepen its talent bench, CEO Tim Laney told analysts.

The White House said it will appeal a circuit court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the central bank board while her lawsuit challenging her dismissal is litigated.

SMS-based multifactor authentication is now so badly compromised that it has become a major vector for fraud. But there's a potential solution, and it's in every bank customer's pocket.

Early Warning Service's peer-to-peer payments network saw payment volume growth accelerate in the first six months of 2025, buoyed once again by small-business payments.

As President Trump calls for scrapping quarterly earnings reports and switching to a six-month schedule, industry observers wonder whether the time saved would be worth the potential loss of transparency.

The Senate voted 48 to 47 to confirm Stephen Miran to the Federal Reserve Board, just ahead of the central bank's rate setting committee meeting.

The Minneapolis-based bank has rolled out payroll and bill pay features four months after unveiling a service to monitor card spending. An accounts receivable solution is on deck.

An alleged scandal involving the LA Clippers is just the latest reputation hit to the beleaguered fintech.

When JPMorganChase said it planned to charge aggregators for its customer data, it sparked strong feelings on all sides.

The card brand has added several tools that expand "agentic commerce," which adds artificial intelligence-based automation to shopping, service and checkout, innovation that's becoming popular with payment companies.

The Federal Housing Finance Agency director should spend less time on partisan attacks and social media posting, and more on trying to resolve the housing crisis.

The perennial effort by state-level lawmakers and regulators to impose their will on national banks risks damaging a well-balanced system that has allowed the U.S. economy to thrive.

Execs say other banks are still more of a rival for deposits than the digital currency.

First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.

The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.

The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.

City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.

The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.

The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.

The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.

Biometrics for in-store payments are taking off; the next logical step is e-commerce. Here's how that may work.

Pious claims about the importance of free data are a smoke screen. What the fintech industry really wants is to stick banks with the bill for organizing, securing and delivering customer data on their behalf.

The Office of the Comptroller of the Currency's recent bulletin warning banks that past debanking actions could affect supervisory reviews is the latest effort to put the president's executive order on debanking into action. But industry sources say the order itself forces banks to choose between pleasing their regulators and taking on unwanted risk.

At a banking conference this week, there was growing optimism that a key regulatory threshold will be raised from $100 billion to $250 billion.

The White House's appeal of a lower court injunction allowing Federal Reserve Gov. Lisa Cook to remain on the Fed board is urging the court to rule in its favor ahead of the Federal Open Market Committee meeting on Sept. 16 and 17.

The cross-border transfer platform is broadening its business model with a subscription-based membership and products like a digital wallet and cash advances.

Origin Bancorp, Renasant Bank and Triumph Financial are the latest financial institutions to report exposure to the bankrupt auto lender Tricolor, joining a list that includes Fifth Third, Barclays and JPMorganChase.

First internet Bancorp, which has recently been grappling with credit quality issues, has agreed to sell an $869 million portfolio of single tenant commercial real estate loans to Blackstone.

A 2024 hospital ransomware breach highlights what Wyden calls Microsoft's systemic failures, urging the FTC to take action.

The Ohio bank sees 10% to 15% cost reductions coming from using generative AI in software development, customer service, personalization and other areas.

Block's transfer service partnered with fundraising and donor management platform Givebutter for philanthropic payments in an effort to capture even more young consumers' payment volume.

The Consumer Financial Protection Bureau told its staff to expect an upcoming reduction in force because the agency's budget was cut in half by the president's recently passed tax and budget bill.

The bank is selling a bundle of products that enable businesses to store global currencies inside the U.S. in FDIC-insured accounts, lowering foreign exchange risk and reliance on third parties.

The White House has appealed a D.C. District Court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the Fed board pending the outcome of her challenge to President Trump's moves to fire her.

Noelle Acheson points out that crypto custody is about more than incorporating new assets into an established service; it's about reshaping how we see standard financial concepts and using the resulting innovations to rethink client relationships.

Consumer prices rose 0.4% in August, up from 0.2% in July, as weak job growth and lingering tariff uncertainty reinforce expectations for a September Fed rate cut.

Bill Pulte, director of the Federal Housing Finance Agency, may have violated federal privacy laws by releasing personal information on mortgages taken out by Federal Reserve Gov. Lisa Cook — actions that served as a basis for President Trump's efforts to remove her from office late last month.

Tricolor Holdings had been showing some cracks leading up to its bankruptcy filing Wednesday. Fifth Third, which had funded the company, said that the problem is a "one-off."

From FedNow to Venmo, banks are tapping QR codes for speed and security. Scammers are also exploiting the blind trust they elicit.

The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.

The U.K.-based super app expanded its partnership with Google Cloud as it looks to advance account-to-account payments; Global Payments launches Genius platform in the U.K.; and more in this week's global payments roundup.

At a hearing on deposit insurance reform, Republican lawmakers concluded that only the largest banks would oppose a proposal to raise insurance for business accounts to $20 million.

The agency's proposal to remove the requirement that banks provide public notice of plans to open new branches short circuits a key means of holding banks accountable for their obligations under the Community Reinvestment Act.

A recent court ruling found that the Federal Reserve had grossly overstepped in its implementation of the Durbin Amendment. The resulting changes to interchange fees will dramatically shift the debit card landscape.

For the first time, this list of banking's rising stars aged 40 and younger is presented in ranked order, highlighting the depth and performance of the industry's top talent.

Ferris joined SMBC Nikko Securities America after leading CLO Primary at JPMorganChase.

Rohrkemper attributes her success at the bank to her engineering and teamwork mindset.

As the chief growth officer, Wu is tasked with customer acquisition and improving customer experience at the fledgling commercial bank, where she was an early employee.

To meet client demands for active strategies, crypto exposure and AI-themed funds, Auriault is helping transform Goldman's trading infrastructure.

Last year, Lane redesigned the bank's financial control testing system and helped implement its new accounting platform.

This corporate "lifer" is building a rich legacy that's going to be hard to beat, but she's committed to helping others follow her playbook.

The firm's 'management-as-a-service' philosophy fuels Ferris' achievements.

A penchant for asking questions led to Cheslin's promotion to managing director.

Levine built BNP Paribas' cash equities business three years ago and now trades billions of dollars daily for clients.

In her role, Honeycutt has to challenge business line leaders to ensure the bank's capital is deployed appropriately.

Naroditsky is leading initiatives that combine how faster payment processing improves the bank's delivery of products through partners.

Sherwood leads direct-to-consumer auto and personal loans, cards and secured lending at the bank where she's spent her whole career.

As part of her role, Taylor manages a $22 million annual budget for four teams.

Carta said that she and her payments team are "almost maniacal" about customer experience.

The "huge nerd on data" relies on strategic plans with strict deadlines to complete complex projects. That attention to detail shows in her YoY numbers.

Mattera built ConnectOne Bank's project management office from scratch over the past two years and recently deployed it for an M&A-driven tech integration.

A global focus is no longer a nice-to-have. Every deal requires a worldwide lens—crucial with $50 billion worth of them projected over the next 12 months.

Volunteering for more responsibilities put this tech exec in line to run software projects of increasing importance to her bank.

Hired as a litigator, Harris switched to operations to add new technology to UMB's legal department.

Kearney-Lederman is on a mission to make economics "cool again."

Andress credits her success as a trader, in part, to being a "very genuine, down-to-earth" Midwesterner.

New client acquisition was standout in 2024. Scarry's "intensity" is unwavering as she looks to grow the EMEA equity long-short client base in the year ahead.

Transforming philanthropy to have lasting impact requires "igniting innovation" — not just throwing big money at problems.

Colleagues see her as a "standout leader in the Texas banking scene." Her tailored approach to HNW mortgages is one reason why.

The self-described strong-willed kid who never wanted to be told what to do has carved out a career placing big bets and giving 'no' for an answer.

The Swedish lender best known for buy now/pay later financing in the U.S. became a public company Wednesday, five months after it delayed its IPO due to President Donald Trump's tariff policy.

Opposition is building against a bipartisan bill that would raise deposit insurance for business accounts, with increased deposit insurance premiums a chief concern.

A federal district court judge granted an injunction allowing Federal Reserve Gov. Lisa Cook to remain on the central bank's board pending the outcome of her legal challenge to President Donald Trump's move to fire her late last month.

The Treasury Department has designated Fifth Third as the financial agent for its Direct Express prepaid card program. The decision marks a reversal from late last year, when BNY reached a five-year agreement with Treasury.

The CEOs of Pinnacle Financial Partners and Synovus Financial — two banks that recently announced a deal to join forces — say they've ironed out all the critical sticking points that bedeviled previous mergers of equals.

Bill Demchak said at an industry conference that PNC effectively "bought Colorado" with its recently announced plan to acquire the $27 billion-asset FirstBank.

The Office of the Comptroller of the Currency announced that Stephen Lybarger will assume the role of Senior Deputy Comptroller for Chartering and Will Giles will be Principal Deputy Chief Counsel amid a surge in fintech and crypto trust charter applications.

Researchers warn the Android banking trojan can steal money, drain crypto wallets and enable NFC relay fraud.

Republicans on the House Financial Services Committee voted to table a motion by Rep. Joyce Beatty, D-Ohio., to compel the Treasury Department to provide unredacted financial records related to the late child sex trafficker Jeffrey Epstein, effectively quashing the subpoena.

CEO Curtis Farmer tried to assure skeptics Tuesday that the Dallas-based bank is focused on shareholder value and profitability, even as an activist investor group prepares to launch a board fight.

Zelle secured a deal with Alacriti to help Alacriti's bank clients adopt person-to-person payments; Paze teamed up with Canadian payment processor Nuvei to expand merchant use of the wallet.

Congress can and should enact meaningful deposit insurance reform, but the current proposal before lawmakers is misguided. The deposit cap is excessive and the funding mechanism creates systemic risk.

The Office of the Comptroller of the Currency is telling financial institutions that they must safeguard customer data even when federal agencies request information in criminal investigations, addressing Republican concerns about debanking that arose after the Jan. 6 Capitol attack.

The Columbus, Ohio-based regional bank announced plans to acquire Dallas-based Veritex Financial in July. On Monday, a Huntington executive called the deal a "springboard" for additional organic growth.

Bank clients of Jack Henry's digital platform provider Banno can offer stock rewards programs directly to their customers via a partnership with Bits of Stock.

The Office of the Comptroller of the Currency said in a bulletin to banks that it will consider whether firms engaged in "politicized or unlawful debanking" when considering bank's licensing applications and Community Reinvestment Act reviews.

Predators often target boys ages 14 to 17, demanding money or using deepfakes to extort them.

White House National Economic Council NEC Director Kevin Hassett endorsed insulating the Fed from political pressure but echoed Trump allies' calls for reevaluating its mission.

The appointment ends a seven-month search for a permanent CEO. Milotich was named interim CEO in February following the resignation of former CEO and director Simon Khalaf.

After 60 years as a Fed watcher with the last 30 as a Fed critic, some would say Fed basher, Ken Thomas has developed a Q&A screening tool that President Trump should use for vetting Federal Reserve governors and the Senate should use for confirming them.

The Pittsburgh-based company's plan to buy FirstBank marks its first bank deal since its purchase of BBVA USA in 2021, which rapidly propelled its presence in the South and Southeast.

How can lenders stop elder fraud when a scam is already underway? One approach, allowed by a growing number of state laws, is to contact someone the client trusts. It's a tactic that can work quickly — or backfire.

A critical U.S. cybersecurity law sunsets Sept. 30, and banks say losing it would weaken defenses against hackers.

The megabank will continue its international retail strategy by opening business in Germany next year, starting by offering savings accounts to consumers.

The Consumer Financial Protection Bureau has released a packed agenda centered on rewriting rules ranging from small business lending to open banking while rescinding several rules finalized under the Biden Administration last year.

A cohort of U.K.-based fintech founders are fundraising to launch a digital bank for high net worth individuals, known internally as "Project Arnaud."

Equity Bancshares is expanding into Nebraska with the proposed acquisition of Omaha-based Frontier Holdings; Valley National Bancorp taps Patrick Smith as its new president of consumer banking; Northern Trust in Chicago promoted Michael Hunstad to president of asset management; and more in this week's banking news roundup.

Jeffrey Stanley and Mark Paverman have been charged with mismanaging Synapse Brokerage accounts and failing to preserve emails and instant messages, among other things.

A Republican-led effort to raise Bank Secrecy Act reporting thresholds gains momentum amid debanking rhetoric as lawmakers eye must-pass defense authorization as vehicle for financial regulatory reform.

There is conclusive evidence that stablecoin adoption does not lead to deposit runoff at community banks. This should give bankers the confidence to grow their businesses by offering stablecoin-related services.

The Canadian institution plans a U.S. tokenized deposit, contending that it can help banks keep and grow deposits amid threats from fintech-issued cryptocurrency. Founder and President David Taylor is encouraging others to do the same.

Founder and executive chairman Edward Nigro will step back into the top executive spot after Ryan Sullivan informed the company he didn't plan to renew his employment contract.

The Bureau of Labor Statistics reported that the economy added 22,000 jobs in August, raising the unemployment rate to 4.3% and providing additional cover for the Federal Reserve to lower interest rates in September.

Fintechs are rolling out business financing tools that are packaged as buy now/pay later and earned wage access in the hopes of capturing momentum from the budding consumer finance industries.

Both Fannie Mae and Freddie Mac made similar changes to their policy when it comes to disclosures and retention rules for an appeal of a valuation.

Organizers of the planned Portrait Bank say they're well ahead of initial capital-raising goals as they near completion on leasing a property to serve as headquarters

The payment company is incenting users to adopt Perplexity's Comet Browser, automating subscription management and shopping as card networks and other payment companies ramp up use of generative artificial intelligence.

The wireless service plans join a variety of banking and payment products offered by OnePay, a fintech company backed by the big-box retailer Walmart.

Credit Union of Colorado is using Scienaptic AI to make about 60% of consumer loan decisions. 

The database contained internal user emails, KPI report templates and other internal data, but no personal or financial customer data.

Stephen Miran will take unpaid leave from and might seek to return to President Trump's Council of Economic Advisers, he said, raising conflict of interest questions in his nomination hearing for a seat on the Federal Reserve Board.

Noelle Acheson points out that central bank digital currencies are neither the threat nor the solution many seem to think. What matters is how the technology is applied.

Regional banks lead the comeback, large banks improved and survey respondents indicated firm reputations depend on banks exercising ethical conduct going forward, amid the Trump administration's deregulatory push.

The industry made widespread gains in reputability this year, with regional banks in particular regaining trust and admiration at levels not seen in nearly a decade.

The giant custody bank plans to offer specialized instruction in cybersecurity, AI and other topics to 1,000 community bank executives.

The bank and Chinese technology giant are speeding transaction processing for business payments, Airwallex makes a deal to bolster its payments tech and more in the American Banker global payments and fintech roundup.

The superregional bank, which pulled the plug on bitcoin custody services in 2022, is reintroducing those services following the demise of an unfavorable SEC rule.

The American Fintech Council urged a federal court to deny requests by banking groups to stay the Consumer Financial Protection Bureau's open banking rule compliance dates while litigation is ongoing.

Attackers used stolen vendor credentials to move $130M, underscoring vulnerabilities in real-time payment systems.

The payment company claims the bank is trying to "take advantage" of uncertainty around open banking regulations.

The arguments banking trade groups are raising against granting charters to digital asset firms are the same scare tactics they used against money market funds, online brokers and fintech lenders.

Sen. Ron Wyden says Treasury is sitting on thousands of Epstein-related banking records including wire transfers, payments and suspicious activity reports that could expose the financial industry to scrutiny over its involvement in Epstein's sex-trafficking scheme.

The bank will deploy Nova Credit's Cash Atlas software to determine borrowers' creditworthiness by looking at bank account data, and the vendor's Credit Passport to bank newcomers to the country.

Federal Reserve Bank of St. Louis President Alberto G. Musalem said central bank autonomy leads to lower inflation and stable employment numbers. His comments come amid the Trump administration's attempt to remove a Fed board member for cause.

The Indiana credit union, which was rebranded from Teachers Credit Union in 2023, says it chose Creatio for the low-code/no-code vendor's ease of use.

As state-level regulators rush in to fill the gap left by a shrinking Consumer Financial Protection Bureau, bank products will have to comply with dozens of potentially conflicting state requirements.

Roland Harbin of First Chatsworth Bankshares in Georgia is part of a trend of bank directors continuing to serve well beyond the traditional retirement age.

Federal Reserve Gov. Lisa Cook's attorneys filed additional motions in her suit against President Donald Trump over his attempt to oust her from the central bank last week. A judge overseeing the case set a Thursday deadline for final briefs.

The Pittsburgh-based bank is bolstering its Southeastern and Mid-Atlantic footprint by adding almost 30 new branches. But is the market already too crowded?

The department is aiming to boost transparency and win Trump's trust after poor economic numbers last month led to a bureaucrat's firing.

Financial technology veteran Steven Pinado, who assumed the fintech's top role this week, says the demand for an easy checkout experience will drive growth.

BNPL lender Klarna officially revived its highly anticipated IPO, and cryptocurrency exchange Gemini also announced plans for a public offering. The offerings follow Chime and Circle's blockbuster IPOs in June.

Three lawmakers led by Senate Banking Committee ranking member Elizabeth Warren, D-Mass., are beginning to assess the impact that the Trump administration's posture toward the Consumer Financial Protection Bureau has had on overdraft fees.

The Kansas City, Missouri-based bank bought the deposits from Old National Bancorp, growing its large base of HSA deposits by 1%.

The American Fintech Council wants Congress to amend the Gramm-Leach-Bliley Act to preempt state privacy laws with both entity-level and data-level exemptions, as well as eliminating restrictions on the secondary use of data.

Rent-seeking banks looking to profit from their monopoly on access to customer data can't be allowed to stymie the development of open banking in the U.S.

Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.

When banks proactively adapt to climate and societal trends, modernize infrastructure and weave environmental, social and governance priorities into decision-making, they enhance resilience and unlock new growth.

The Cleveland-based credit union recently launched a fractional stock rewards program for members ages 18 to 28 through a partnership with Bits of Stock.

Most big banks saw modest reductions in their requirements following this year's stress tests. The results come as the Fed prepares to smooth year-to-year swings with a new averaging rule.

The D.C. District Court held a hearing this morning and defendants filed briefs in a case to determine whether Federal Reserve Gov. Lisa Cook will remain on the Federal Reserve Board after her ostensible firing by President Trump earlier this week. No ruling was issued, but one is expected before the FOMC votes in mid-September.

Buy now/pay later lender Affirm hit profitability goals for its fiscal year 2025 and set aggressive guidance for fiscal 2026 ahead of Wall Street's estimates. Its stock soared more than 10% Friday.

The proposed Berkshire Hills-Brookline merger is expected to finalize on Sept. 1; Flagstar Financial has scheduled a special shareholders' meeting to simplify the bank's regulatory structure; former Credit Suisse executives agreed to settle a suit filed by shareholders claiming they failed to maintain adequate risk management; and more in this week's banking news roundup.

Housing regulator Bill Pulte lodged more fraud allegations against Fed Governor Lisa Cook as she filed a temporary restraining order regarding attempts to remove her.

Online lenders are urging the Office of the Comptroller of the Currency to force banks to disclose all account closures to the agency, following an executive order earlier this month. 

In a letter Friday, U.S. Sens. Elizabeth Warren, D-Mass., Chuck Schumer, D-N.Y., and Cory Booker, D-N.J., called on Pulte to address housing unaffordability instead of concentrating on efforts to destabilize the Federal Reserve.

Finastra is the latest bank tech provider to bring stablecoins to cross-border payments, which experts say is a way banks can use blockchain post-GENIUS Act.

The era of borrowers being able to shift assets into subsidiaries outside the reach of creditors is ending, as AI enables lenders to identify and preemptively block such strategies.

Federal Reserve Gov. Christopher Waller criticized his fellow Federal Open Market Committee members for not cutting interest rates in July, but said he is "hopeful" that easing monetary policy soon can keep the labor market from "deteriorating."

Federal Reserve Gov. Lisa Cook's lawsuit against President Trump is challenging his move to remove her from office because allegations against her do not constitute "cause." How courts weigh in could dictate the future of the central bank's independence from the White House.

As the holiday shopping season approaches, retailers are grappling with how to optimize their inventory and set prices amid higher tariffs. A new Wells Fargo report sheds light on how businesses are adapting.

On Thursday, the two banks disclosed a presentation that seeks to reinforce the strategic rationale behind the proposed $8.6 billion deal.

Self Financial sees earned wage access as the perfect complement to its suite of credit building products. It's the latest example of EWA being paired with broader financial wellness products.

The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.

Community development financial institutions have a long history of providing vital economic lifelines to communities across the country. Credit unions have always been an important part of that story.

The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.

The agency says the move, which it made pursuant to a Trump directive, reverses Obama-era policies and requires banks to restore access to customers allegedly cut off for political or ideological reasons.

The incident appears connected to recent social engineering campaigns, including attacks tied to Salesforce.

Worries that information can be kept safe is the top issue that's holding back artificial intelligence-driven tech upgrades at regional banks and credit unions.

Federal Reserve Gov. Lisa Cook filed a lawsuit in federal court Thursday morning seeking an injunction against President Trump's "illegal attempt" to remove her from the Fed board. The suit claims Trump has not demonstrated "cause" for her removal under the Fed statute.

Noelle Acheson points out that, while banks are unlikely to issue stablecoins, the related businesses they are likely to end up offering could set the stage for a transformation of their relationship with their clients.

A directive from the Federal Housing Finance Agency would cut the number of board seats for Federal Home Loan Banks, especially in dark blue areas of the electoral map.

Amy Wierenga is taking on the role at a time when the Trump administration and Republicans in Congress are rolling back certain bank rules. She sees opportunities ahead.

By using a public blockchain, a potential digital euro could be made more widely available. Plus, Klarna expands its merchant reach as it resurrects plans for an IPO, Binance faces an audit and more in the American Banker global payments and fintech roundup.

The Canadian bank's stateside unit is hiring bankers and investing in growth, according to RBC Chief Executive Dave McKay, following a rough 2023.

The leader of a major credit union trade group takes issue with a recent BankThink article questioning credit unions' ability to operate as federally recognized Community Development Financial Institutions.

The amount was less than $1 million, but the plot reveals clues that can help spot and fight elderly abuse and other financial crimes.

Whether they plan on it or not, most managers will at some point find themselves in a bubble that bad news fails to penetrate. The best leaders are the ones actively trying to burst it.

Data suggests that the beleaguered commercial real estate market isn't going to get worse. And now that banks have had time to build reserves, any losses they do take shouldn't be disastrous, analysts say.

The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.

The American Fintech Council publicly declared support for California SB 69, which would require "internal expertise" for artificial intelligence regulation.

Four years after its launch, the Mission Driven Bank Fund has ended its fundraising well short of its original $500 million target. Still, organizers are hopeful that the fund's performance will attract other investors to the sector.

U.S. Bank's merchant acquiring unit has expanded its partnership with embedded finance fintech Liberis to offer its small business clients working capital loans.The two companies previously offered loans in the U.K., Ireland and Poland.

Legal experts say President Trump's unprecedented move to fire Cook over alleged past misconduct will likely be hashed out in court, but there is little precedent to determine whether a sitting board governor can be removed for past actions.

Aron Levine, the Canadian bank's new U.S. president, said BMO intends to invest in technology and spend more on branches. The company's moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.

The card brand is reportedly focusing on other markets amid uncertainty in U.S. regulations and as banks consider fees for data sharing.

Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes.

President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.

Bank industry advocates, housing groups and CRA veterans say the rule is overly complexity and burdensome, but even they agree pre-approving CRA-eligible activities was a good idea.

The online gambling operator, which was recently fined $450,000 by Massachusetts regulators, indicated that its new policy is designed to protect customers from cash-advance fees.

The deal will allow Workday to offer Chime Workplace, the neobank's suite of enterprise financial wellness solutions, to its clients. For Chime, the partnership provides a wider reach to new potential deposit accounts.

A banking union calls the reversal by Commonwealth Bank "a massive win," but warns the fight to protect human jobs from AI replacement isn't over.

As stablecoins gain broader adoption in the U.S., they will eat into banks' deposits. As a result, lending in the U.S. may be increasingly funded by the wholesale capital markets.

A bipartisan amendment from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would expand deposit insurance for business accounts, but the industry is split on who should bear higher FDIC premium costs.