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A former Wells Fargo executive will replace Bair next month as part of a broader shakeup of the government-sponsored lender's leadership ranks. Chief Executive Hugh Frater is also stepping down.

Higher interest rates are generally helpful to the industry, but they are also leading to unrealized losses in banks’ bond portfolios. Trust banks such as Bank of New York Mellon, State Street and Northern Trust may take relatively large hits when they announce their first-quarter results.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

Robert Sarver, who is majority owner of the Phoenix Suns basketball team, will retire from his longtime role on the board of directors of Western Alliance Bancorp. in June, the company said. Sarver and the Suns are being investigated by the National Basketball Association regarding allegations of racism and misogyny within the Suns organization.

April and Column Tax are among the startups capitalizing on the idea that taxes are part of a person’s financial life and banks are most suited to help with tax preparation and filing.

Bank-issued prepaid benefits cards were supposed to help state governments deliver these funds more efficiently. But the pandemic scrambled the economics of these programs.

Citigroup and Bank of America are partnering with four large European banks to create a methodology for assessing how well companies in the air-travel sector are doing in meeting climate-related targets.

The banks that own the peer-to-peer payment network are reportedly considering a retail launch that could fend off rival payment methods — or simply cannibalize the sizable revenue issuers get from credit and debit cards.

The Cincinnati bank is joining other large and regional banks in scrapping nonsufficients-fund fees. The move comes amid continued regulatory pressure on the industry to curtail overdraft fees and related charges.

In a letter obtained by American Banker, the Senate Banking Committee chair called on the Federal Reserve and Office of the Comptroller of the Currency to reform their bank merger review processes.

Banks report cyber events to their boards and regulators more than twice as often as they notify their customers and the general public, according to a recent survey. New reporting requirements could change the equation.

A group of state attorneys general is asking JPMorgan Chase, Bank of America, Wells Fargo and U.S. Bancorp to scrap the controversial charges entirely, as competitors like Citigroup and Capital One have done. The four banks targeted have all announced significant changes that will likely reduce their overdraft revenue.

Vocal in their opposition to some restrictive state laws in recent years, most institutions are silent on similar laws being pursued today. Why?

The Consumer Financial Protection Bureau argues borrowers in the case had a right to answers even if the inquiries were origination related and foreclosure litigation was pending.

New York Fed researchers found that banks operating in areas hit by tornadoes, floods and other calamities weren’t financially hurt by those disasters. That surprising result comes with significant caveats, however.

The bank's CEO, Mike Butler, finds signs of fraud using software from FiVerity that identifies suspicious behavior patterns across its client network.

The newest version of the Mastercard gives users the most cash back for checking out with their PayPal accounts instead of for spending in specific categories.

Louisiana's Transportation Secretary and the former Assistant to the President for Infrastructure discuss the state of play in the U.S. P3 sector, the impact of the new infrastructure law, and what's in store for the next decade.

Institutions are hiring aggressively or buying up competitors to take part in an equipment finance boom as the economy continues to heal.

Join Onfido CEO Mike Tuchen and Okta Regional Chief Security Officer Ben King as they present exclusive joint research on how customer attitudes have changed over the past year. Five thousand respondents from the U.K., U.S., France, Germany and the Netherlands told us how they feel about digital access across a range of industries.