Banking

Bank trade groups filed a motion for a preliminary injunction to stop the Consumer Financial Protection Bureau's $5 overdraft fee rule from going into effect late next year.

The integration of artificial intelligence into financial services demands a human-centered approach. This is both a moral obligation and a strategic necessity.

The Pennsylvania-based buyer said it would pick up nearly $350 million of assets and a commercial-focused loan portfolio as part of the $54.6 million deal.

For the third time in five years, the Office of the Comptroller of the Currency issued an enforcement action against the beleaguered bank. It bars USAA from adding new products or loosening its membership criteria without evaluating the risks of getting bigger.

The Federal Reserve and OCC approved the company's plan to buy Independent Bank Group in Texas, putting the deal on track to close early next year as expected. In an atmosphere of M&A delays for banks, the deal is on a relatively smooth path.

As the Biden administration comes to a close, the agency called out "bait-and-switch tactics" by card issuers. It also announced a new tool allowing consumers to comparison shop for credit cards.

This year, American Banker reporters dove deep into topics such as gambling addiction, Citigroup's rebuild, the Small Business Administration, fraud and monetary policy for its feature articles. Check out the most consequential articles of the year.

When combined, the top five states have roughly 23.9 million households classified as unbanked according to the Federal Deposit Insurance Corp.

We've seen what can happen when BaaS providers fail to adequately protect consumers. Across the industry, we need to institutionalize the principles of safe banking, both inside and outside of traditional banks.

New bureau research digs into the fees that bettors get charged when they use credit cards to fund gambling accounts.

The populist strain that has long animated the left wing of the Democratic party seems to have migrated to the Republican center, benefiting President-elect Donald Trump in this year's election. We're about to find out whether right-wing populism is as earnest as its left-wing predecessor.

The Columbus, Ohio-based bank said its all-stock bid for Penns Woods Bancorp would expand its footprint and give it $1.7 billion of deposits and $1.9 billion of loans.

Months of painful restructuring may be paying off as the Charlottesville, Virginia-based company reported a modest third-quarter profit after more than a year of losses.

There are many ways for the incoming administration to overturn the Consumer Financial Protection Bureau's final rule slashing overdraft late fees to $5. But the politics of nullifying the rule is a challenge to an administration that promised lower prices.

The Georgia-based bank plans to hire 85 relationship managers over the next three years to support growth in commercial and middle-market lending and private wealth. "The biggest risk is not being able to hire the bankers," said CEO Kevin Blair.

The bank ends the year with a substantially different profile from early 2024, which brought new leadership, a significant reduction to its mortgage operations and a corporate rebrand.

The combination would create a Northeast regional bank with nearly $24 billion of assets. It would rank as the eighth-largest bank in the Boston metropolitan area by deposit market share.

The Long Island bank is the latest financial institution to use new equity to restructure its balance sheet and unload low-yielding assets. Its stock price tumbled after the shares were priced at a considerable discount.