Special Program Root Tag

The five-year employment agreement with CEO Bryan Jordan follows a failed acquisition effort by TD Bank. The deal suggests that Jordan is seen as critical as the Memphis, Tennessee-based bank charts an independent course in the coming years.

The rapid pace of innovation, reliance on a web of vendors and regulatory scrutiny means fourth-party risk is a more pressing consideration than in the past.

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.

Stax Payments appointed British financial executive Paulette Rowe as its new chief executive officer, making her one of the few Black women to lead a finance company.

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

The Minneapolis company is issuing stock to the Japanese banking giant that previously owned MUFG Union Bank in order to repay part of a $3.5 billion obligation. The move will also boost a key capital ratio, which sagged after the deal was completed, but is expected to cut into U.S. Bancorp's earnings per share.

Board service, philanthropy, and a return to campus as a student: the recently retired MUFG banker is embracing her next act after decades in finance.

While financial markets wobbled after Fitch Ratings reduced the U.S. government's credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poor's in 2011. JPMorgan Chase CEO Jamie Dimon argued that Fitch's action "doesn't really matter that much."

The Department of Housing and Urban Development is reviewing HSBC's lending practices in certain majority Black and Hispanic neighborhoods, the bank disclosed. The regions under scrutiny include New York, Seattle and several parts of California, according to the nonprofit organization whose complaint prompted the investigation.

Consumers with the Apple Card deposited more than $10 billion in Apple Card's high-yield savings account that Goldman Sachs provides, the technology giant said.

Regulators remain skeptical toward digital assets in the wake of major crypto-industry partner-bank failures, but in the absence of legislative direction, oversight of crypto is largely left to the Securities and Exchange Commission. The SEC's approach has been aggressive, but its authority has been muddied by recent court decisions.

Competition in the earned wage access arena is leading to more innovation — and emphasizing the need for regulation, according to a new report from Harvard University researchers.

In 18 states, consumers are not allowed to use trained debt resolution professionals to seek relief from their creditors. That needs to change.

Seibly, a 35-year banking industry veteran, takes over the Jacksonville, Florida, online bank now that private equity investors have purchased it from TIAA.

Banks locked in funding by offering more enticing rates on certificates of deposit last quarter, but rebuilding liquidity came at a cost. Competition isn't dying down either, with a couple of credit unions floating 6% CD rates.

More than 1,000 users reported problems making payments on Tuesday before complaint volumes tapered around midday, according to DownDetector, a site that collects user outage reports. The internal network disruption comes on the heels of another Zelle outage JPMorgan Chase took responsibility for seven days ago.

Michigan State University Federal Credit Union and Nymbus teamed up to design a package of business banking tools with an eye toward credit unions, which historically have tread lightly into this space.

The racially targeted mass shooting at a Buffalo, New York, grocery store in 2022 has renewed conversations about whether banks have a duty to help segregated, impoverished communities that were shaped in part by discriminatory lending practices. What do banks owe the Black community, and what influence could they have?

Median noninterest income at midsize banks rose 7.2% in the second quarter, exceeding expectations. Dallas-based Texas Capital stood out from the pack, reporting a large uptick in fee income thanks largely to its new investment banking platform.

Gateway First Bank, a former nonbank home lender, rode the pandemic era's mortgage wave to No. 1 on American Banker's latest list of top-performing banks based on full-year 2022 data. Now it has to cope with the housing market slowdown.