Banking

The $736 million Orange County bank had faced a smattering of enforcement actions over the years, including for concentration risks, governance issues and questionable insider transactions.

The Canadian bank's U.S. operations experienced challenges following a large acquisition on the West Coast. But the bank is now making good progress, according to a top BMO executive.

FiCare Federal Credit Union says callers passed Fiserv's verification with stolen data and got fraud blocks lifted. Five others reported the same.

George Boyan is named CEO of New Jersey-based Unity Bancorp as James Hughes announces his retirement; the American Bankers Association has elected Iowa banker Matt Lujano as chair of the association's Community Bankers Council; fintech-turned-digital bank SoFi's stablecoin settlement partnership with Mastercard is now live; and more in this week's banking news roundup.

The Republican-led bank, which touts itself as "pro-America," has struggled to turn a profit. The Federal Deposit Insurance Corp. said Old Glory failed to respond to a prior warning about capital deficiencies.

Artificial intelligence could be a powerful tool, but it seems that just about everybody using it has realized one thing: It is not inherently trustworthy.

Recent federal guidance stopped short of issuing rules for banks' artificial intelligence use, but bank examiners already have some tools they can deploy to make sure these systems operate safely.

Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.

While bankers generally seem to support a draft rule that would make larger companies eligible for SBA loans, smaller firms and Democratic lawmakers have panned the proposal.

Sixteen percent of consumers took out a buy now/pay later loan in 2025, according to the Federal Reserve, as more low-income consumers turn to the short-term installment loans for everyday expenses such as groceries. That's creating a blind spot for banks that underwrite consumer credit.

Scott Powell, who was hired by CEO Charlie Scharf to help fix the bank's regulatory problems, is moving into the chief risk officer role.

In conversations about small-business banking, ChatGPT, Gemini and Perplexity recommended Mercury far more often than licensed financial institutions. 

The leak has gripped Asia's investment banking industry this week after one of Morgan Stanley's top bankers accidentally sent an email to some clients containing a list of more than 100 deals the Wall Street firm was working on and monitoring.

The bank was determined, by multiple industry rankings and experts, to be the best mobile banking provider in the U.S.. Bank of America took second place.

The move came 12 days after Canada's bank regulator said tokenized deposits are not legally distinct from ordinary deposits.

WestStar Bank of El Paso is acquiring Albuquerque's Southwest Capital Bank, bringing it six new branches in New Mexico.

The U.S. economy is expected to keep growing despite nagging inflation, according to the latest consensus report from the American Bankers Association's Economic Advisory Committee.

Several proposed updates, including lower risk-weight floors for certain securitizations and corporate loans, could make it more attractive for banks to finance or hold certain private credit-related assets, experts say.