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The bank cut its dividend, raised capital, hired multiple top executives and vowed to reduce its commercial real estate concentration after a bruising first half of 2024.

The credit union has been using Upstart's AI-based loan decision model to help creditworthy consumers consolidate their credit card debt.

The Young Women's Leadership Award grants four $5,000 college scholarships to New York City high school seniors who are first-generation college students.

Consumer Financial Protection Bureau Director Rohit Chopra said regulators urgently need to implement the Basel III endgame bank capital proposal, suggesting his opposition to the revised rule centers on the process of re-proposal rather than more substantive opposition to suggested revisions.

The Consumer Financial Protection Bureau warned companies about modern-day surveillance of workers and requirements to follow the Fair Credit Reporting Act.

While the recent upward movement has dampened borrowing activity, housing researchers reported encouraging signs for business this fall.

With the payments industry looking for signs of consumer distress, the credit card company says spending is starting to stabilize and it's retaining customers at a strong rate.

A federal appeals court this year reversed Townstone Financial's earlier victory, ruling the regulator had authority to apply a lending law to prospective applicants.

The Raleigh, North Carolina-based bank lowered full-year guidance for 2024. Costly deposits are outpacing its yield on loans amid tepid borrowing demand.

McQuown is credited with kicking off a financial revolution with the creation of the first index fund.

New York Attorney General Letitia James asked a state court for permission to issue subpoenas to Capital One as part of an ongoing antitrust probe by the state,

With two excellent real-time payments rails now available in the U.S., enabling QR code transactions is essential. The financial services industry needs to come together and establish uniform standards.

The Wilmington, North Carolina, company reported a breakout quarter for loan production, but profits fell as an increase in nonperforming loans led to higher provisioning.

The American Banker award ceremony, which celebrated 15 women honorees 40 years or younger nominated for having C-suite potential by an executive at their institutions, took place at The Glasshouse in New York City.

Industry groups and consumer advocates are joining forces in support of  proposed regulatory changes.

The new chair of the Basel Committee on Banking Supervision called for member nations to finish the job of implementing post-financial crisis regulations. He also warned them not to put economic goals over safety considerations.

The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

Consumer Financial Protection Bureau Director Rohit Chopra said opposition to the bureau's recently finalized open banking rule should be viewed as banks and other large firms attempting to quash competition and stymie consumer data protection.

McKinsey published a report Wednesday that found banks' technology investments equate to the gross domestic product of Sweden. But this spending is not leading to revenue growth, they and others say. 

The Southern California company beat analysts' expectations, partly by steadily paying less for deposits, as it navigates a classic net interest margin pickle.