Banking

Governor Greg Abbott proclaimed Texas the "financial capital of America" at the Texas Bankers Association's annual convention; Columbus, Ohio-based Northwest Bank named Chad Ballard chief information officer; Deutsche Bank terminated some staff as a result of its client relationship with convicted sex offender Jeffrey Epstein; and more in this week's banking news roundup.

Farmers and Mechanics Federal Savings Bank in Bloomfield, Indiana, last turned a profit in 2023.

People are becoming increasingly wary that things they see, read and hear may be AI-generated rather than authentic. To maintain customer trust, banks need to leave no doubt that they are people-driven organizations.

The Canadian-American bank's first AI agent does the work of gathering any missing documents and verifying data for mortgage applications. 

The narrative of fintechs as dramatic disrupters of traditional finance is wearing thin these days. More and more established fintech firms have discovered the value of respectability, and deemed it to be worth the cost.

The digital bank made its SoFiUSD stablecoin available to all members on Wednesday and plans to launch tokenized deposits in the near future.

The trillions being poured into AI is putting pressure on the hyperscalers to produce a return on the investments.

Housing advocates and compliance firms are suing to block a rule from the Consumer Financial Protection Bureau that they say guts the Equal Credit Opportunity Act.

The Canadian lender's U.S. plan involved selling branches and jettisoning certain noncore relationship loan portfolios. BMO is now positioned to achieve its stateside return on equity target, CEO Darryl White said.

The Federal Deposit Insurance Corp. said banks earned stronger profits and expanded lending in the first quarter of 2026, but at the same time margins shrank and unrealized losses have been increasing.

Spain's largest lender is looking to buy Webster as part of an effort by Executive Chair Ana Botin to expand in the U.S.

Private credit should no longer be evaluated primarily as a yield story. Under current conditions, the underlying structure of deals is playing a much larger role in determining performance.

AI could bring about the worst jobs market in the past century; the good news is we have time to figure out what to do about it.

The average number of days it takes for large bank M&A deals to close has drastically shrunk from the past two years, according to a new report.

Maspeth Federal Savings in Queens has been managed by members of the Rudzewick family, led by long-serving patriarch Ken, for nearly three decades.

The crypto exchange, which closed its original direct deposit service in late 2024, has brought it back for users to set up automated digital asset investing.

The Office of the Comptroller of the Currency has conditionally approved several national trust bank charters for crypto companies. Fabian Dori at Sygnum Bank, which has operated as crypto bank for six years, shares what happens after the charter.

An automated alert system auto-closed "a very high percentage" of suspicious-activity flags at the bank, the OCC said.

The CEOs of JPMorganChase, Goldman Sachs and Standard Chartered said they're reducing some roles due to advances in AI, the same week the Pope spoke of the need to protect workers.  

Tokenization is being adopted from within the system, not alongside it. It's improving how markets operate by making settlements faster, increasing their mobility, boosting transparency and expanding access.