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One large bank accused the former lender of commingling mortgagor payments in its general operating accounts instead of delivering those funds to a lockbox.

But high costs and any downturn in the economy could weigh on lenders and their commercial borrowers in coming months, economists caution.

City National Bank has tapped Howard Hammond, a 17-year veteran of Fifth Third Bancorp, as CEO of the Los Angeles-based bank, replacing Kelly Coffey, who will move to a newly-created role as CEO of the bank's entertainment unit.

In addition to expense-reduction measures, the Wisconsin-based regional bank is selling almost $2 billion of mortgages and securities and will invest in its lending and deposit-gathering capabilities.

The banking industry's campaign against proposed capital requirements has reached a new dimension, with a group called Center Forward buying a Sunday Night Football ad arguing that the proposals would raise consumer costs.

UBS joined rivals such as HSBC in allowing clients in Hong Kong to trade some crypto-linked exchange-traded funds amid a push by the city to foster a digital-asset hub.

In its biannual report on supervision and regulation, the Federal Reserve Board noted an uptick in governance issues with large banks. Regional and community banks, meanwhile, were plagued by IT problems and risk management struggles.

The Wyoming bank has launched its signature service, amid a legal tug-of-war with the Federal Reserve.

Federal Housing Finance Agency Director Sandra Thompson is pushing for a quick launch of pilot programs at the 11 Federal Home Loan banks to help underserved communities after its report this week prescribed major reforms to the system.

The market stayed open four extra hours to allow participants to reroute trades Thursday after an attack by cybercrime group Lockbit.

Superintendent Harris led the takeover of Signature Bank after it failed this spring. She joins Editor-in-Chief Chana Schoenberger to reflect on the lessons of this year's banking crisis, and how she is modernizing supervision.

Flagstar Bank promotes newly hired Jason Birnbaum; Finstar Financial tops $1billion-asset threshold with acquisition of Sitgler; digital platform Bluevine launches checking account for high balances; and more in the weekly banking news roundup.

The technology, which has its roots in cryptocurrency, could make corporate transactions more flexible.

Building on technology it acquired with cloud-banking fintech Finxact, Fiserv aims to play matchmaker between its bank partners and merchants.

As we look ahead to fresh innovations in fintech, we should try to reconnect with a deeper, more intentional set of human relationships foundational to our experience of money.

Banks across the spectrum of size and location serve small businesses — but they all do it differently. At American Banker's Small Biz Banking 2023 conference in Nashville from November 13-15, banks of all sizes will come together to share ideas, learn from experts and hear from bankers in the field who are doing it best. 

Changes being considered by the Federal Housing Finance Agency would make liquidity more expensive and complicated to obtain. But first, those reforms will have to overcome the political power of a wide range of financial institutions that benefit from the status quo.

The Cincinnati-based bank, which purchased a solar lender last year, is facing an investigation from 17 state attorneys general over the acquired company's lending practices and contractor network. One solar panel installer has gone bankrupt and faced complaints across the country.

Los Angeles-based Lendistry — in less than two years — became the largest Black-run 7(a) lender. Its CEO credits a concerted effort by the Small Business Administration to reach out to minority lenders and businesses, whose participation in the lending program is growing.