Banking

The largest U.S. bank by assets has elevated Jennifer Piepszak to chief operating officer, in preparation for Daniel Pinto's retirement in 2026. But Piepszak is not interested in being CEO, the company said.

Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.

The bank didn't give some existing customers the higher rates it was offering new customers, the agency alleged. The bank said it would fight the suit, which comes just days before the Trump administration takes over the regulator.

The top five banks and thrifts had combined assets of more than $13 trillion as of Sept. 30.

New regulatory changes have created the potential to enable smaller institutions to compete more effectively with their larger peers — if they're willing to seize the opportunity.

The bank said it would acquire Bank of Idaho for $245.4 million in stock. It marked the 12th bank deal for Glacier over the past decade.

The Consumer Financial Protection Bureau's research found that the majority of buy now/pay later users are subprime borrowers, holding high credit card balances and multiple loans, suggesting the offering is riskier to lenders than previously assumed.

Beau Cummins, a longtime Truist executive, stepped into the chief operating officer role in 2023 to help reposition it after years of lagging performance. The bank says he won't be replaced.

The Federal Deposit Insurance Corp. granted nonbank investment firm BlackRock an extra month to come to an agreement with the agency over its substantial stakes in certain FDIC-regulated firms, a matter that Republicans and Democrats have both expressed concern about.

Mutual Federal Bancorp nixed its planned acquisition of Pulaski Savings Bank. It did not disclose a reason for the deal termination.

Standing on the sidelines when it comes to the implementation of artificial technology in the investment banking sector is no longer a viable strategy. Companies must move ahead, or risk being left in the dust.

The Federal Reserve Board on Friday approved UMB Financial's pending $2 billion acquisition of Heartland Financial.

The action rids the Montana bank of a $62.8 million loan that's long been on its watch list. It comes as First Interstate's new CEO looks to put his own stamp on the bank.

Texas Capital Bancshares promotes Aimee Williams-Ramey to chief human resources officer; M&T Bank hires Wells Fargo veteran Krista Phillips for newly created post of chief customer officer; Paul Connolly and Paul Speiss age out of their positions on Eastern Bankshares' board; and more in this week's banking news roundup.

Clearfield-based CNB Financial's planned acquisition of ESSA Bancorp in Stroudsburg would create an $8 billion-asset company with 49 branches and nearly $5 billion of deposits in the Keystone State.

Regulatory shifts and loan growth are some of the hot-button topics banks will seek to address as they start sharing their fourth-quarter reports next week.

The San Antonio-based insurer and bank has named Juan Andrade as its next CEO. The company's bank has suffered a series of regulatory penalties.

As the flames continued to spread, banks closed more branches while others donated to relief efforts.

The Bethesda, Maryland-based company called its success in luring a team from Capital One as its most "newsworthy" move to date executing a strategy aimed at diversifying its lending operation.