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The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.

Canaccord Genuity Group hires Nadine Ahn, who was fired from Royal Bank of Canada in April; Citigroup establishes a new banking executive team to oversee its commercial and investment banking work under Vis Raghavan; and more in this week's banking news roundup.

The Supreme Court ruled this year that companies facing civil money penalties have the right to request a jury trial. The ruling is going to change the way regulators and companies think about enforcement actions.

Experts at Citi, Morgan Stanley and the London Stock Exchange have written a governance framework banks can use to mitigate the risks of generative AI.

While companies trust banks and typically maintain their core relationship with small businesses, the industry's dominant position is hardly set in stone, according to a survey by American Banker.

The Canadian bank's stateside retail operations will be hamstrung by a massive anti-money-laundering settlement. But executives said the company can lean on both its Wall Street business and lines of revenue north of the border.

The Canadian bank is indefinitely prohibited from growing assets at its two U.S. subsidiaries as the result of a sweeping settlement over money-laundering violations. While only the second imposition of such a penalty ever, experts say it will not be the last.

The giant card network and the global bank are combining their scale to boost real-time cross-border transfers as fintechs target the market.

President Joe Biden called on Congress to return to Washington to make sure Small Business Administration loans don't run out after Hurricanes Milton and Helene devastated large swaths of the Southeast.

The Conference of State Bank Supervisors cast doubt on an initiative unveiled by Treasury Under Secretary for Domestic Finance Nellie Liang that would establish a federal regulatory framework for domestic payments, saying that state-level supervision "does not … constitute a regulatory gap."

The issue of how private equity interacts with consumer-facing businesses is getting more scrutiny among Democratic lawmakers and policymakers, including Democratic presidential nominee and Vice President Kamala Harris.

The investing platform disclosed a data breach this week, offering few details on the impact or how customer accounts could cause such damage.

The sweeping enforcement actions will be a watershed event for TD Bank's U.S. subsidiary, which had previously been a promising growth engine.

Los Angeles dispute resolution platform Ejudicate was banned by the Consumer Financial Protection Bureau for forcing borrowers into arbitration with an affiliated creditor.

Now that earnings season has kicked off, investors will be paying close attention for signs of loan growth and deposit pricing relief, though analysts don't expect improvements to materialize right away.

He will succeed Kevin Riley, who previously announced plans to step down this year. Reuter retired last spring after leading FirstBank Holding in Colorado since 2017.

Toronto-Dominion Bank will pay the penalties and agree to restrictions on its U.S. growth in a settlement with regulators over its failure to catch money laundering, the Wall Street Journal reported. Regulators are likely to announce the settlement Thursday.

Wall Street banks are expected to capitalize on ultra-low credit spreads and strong demand from investors after they report quarterly results.

The Federal Reserve Bank of Chicago president stuck by his view that the U.S. central bank has moved past its singular focus on price pressures.

The varied perspectives that people of different generations bring to the issues facing a growing business can be a deep and rich source of support for entrepreneurs.