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CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.

Lawmakers questioned Treasury Secretary Janet Yellen on concerns including bank consolidation, the systemic risk exception and the need for regulation of cryptocurrency during Tuesday's House Financial Services Committee hearing. During the hearing lawmakers highlighted gaps they see in post 2008 financial regulations at a time when they say big banks wield growing influence on the system.

Sen. JD Vance, R-Ohio, lambasted the Federal Reserve for increasing the dominance of "too big to fail" banks and failing to rein in systemic risk. He asked whether the Office of the Comptroller of the Currency is a better regulator than the Fed.

Just as the United States is getting good news in its war against inflation, the picture is very different across the pond. Some of that is bad luck, but there are lessons on what not to do as well.

State Employees Credit Union in Raleigh, North Carolina, named Leigh Brady as its new chief executive. Outgoing CEO Jim Hayes will run State Department Federal Credit Union in Alexandria, Virginia.

Michelle Moore, head of consumer digital at Wells Fargo, uses three principles to try to create user interfaces customers will come back to.

House Financial Services Committee Chair Patrick McHenry, R-N.C., said that two new bills would make the Financial Crimes Enforcement Network more accountable to the public as it moves toward implementing its beneficial ownership reporting requirement rule.

Gotsch is one of American Banker's Most Influential Women in Fintech.

The Roseville, California institution is expanding into the Bay Area in hopes that it can land new clients and lenders in the wake of two large regional failures there this year.

Pesto, a San Francisco-based startup, invites consumers to ship their diamonds, gold and valuable jewelry to be appraised as assets backing a secured Mastercard. The firm has raised $11 million — and the eyebrows of some consumer advocates.

Young people aging out of foster care don't often have the documents or relationships necessary to open an account. First Tech is making changes to address this all-too-common issue.

Banks that haven't built a plan to implement the Federal Reserve's new real-time payments system still have time to make up lost ground.

New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.

The additions allow the Rhode Island bank to expand its wealth management footprint along the East Coast and in San Francisco, where the recently shuttered First Republic was based.

The credit card company says it could raise interest rates, charge new fees and implement penalty-based pricing if late fees get capped at $8. But its ability to maneuver is constrained by a 14-year-old federal law.

Consumer Financial Protection Bureau Director Rohit Chopra warned that "powerful firms" must not dominate the new open banking landscape.

UBS Group AG poached nearly a dozen of the firm's top technology bankers, while others have left for Pickering Energy Partners and Jefferies Financial Group Inc.

Hafize Gaye Erkan becomes Turkey's first female central bank governor and faces the unique challenge of working for a president who believes that cheaper money leads to slower inflation.

Bank of America had been considering a bid for First Republic after it was seized by regulators, but ultimately dropped out of the process.

Bond traders have overestimated month-over-month headline inflation heading into four of the last seven Consumer Price Index releases, says strategist Raghav Datla.