Banking

An internal Consumer Financial Protection Bureau memo says the agency will shift enforcement and supervisory work to the states and cease oversight of all nonbanks and Big Tech firms.

The firing of National Credit Union Administration board members further erodes the political independence of bank regulators, experts say, in a way that could trickle up to the Federal Reserve.

The regional bank is offloading a $1.9 billion student loan portfolio in order to focus on its relationships with existing customers, said CEO Bruce Van Saun.

Nashville-based FB Financial announced the opening of a new office in Asheville, North Carolina, a week after striking a $381 million deal for an Alabama-based community bank.

One day after taking the helm as CEO, Gunjan Kedia was candid about the company's lagging stock price, telling analysts that she is "not happy" with it.

The Memphis-based bank said the pace and quantity of interest rate cuts will be a determining factor in its performance. In the first quarter, its deposit costs continued to fall, but those strides were offset by soft loan growth.

President Donald Trump has ousted Todd Harper and Tanya Otsuka, Democratic board members of the National Credit Union Administration, before the end of their Senate-confirmed terms in the latest example of bipartisan regulator boards being undermined in Washington.

President Trump's first administration laid the foundation for open banking in the United States through market-oriented principles. His second administration now has the opportunity to build upon this foundation.

President Trump's tariff regime and resulting price shocks may put additional pressure on small banks, requiring an already undermanned Federal Deposit Insurance Corp. to turn to assisted M&A deals to resolve failed banks, accelerating consolidation in the industry.

A federal judge in Texas found that the Consumer Financial Protection Bureau had violated the CARD Act by barring banks from charging late fees for credit cards.

Bunq Tuesday announced it applied for a broker-dealer license with FINRA and the SEC and had a 65% increase in year-over-year profits.

The financial services industry is uniquely positioned to advocate for collaborative AI leadership. As a sector that depends on trust, transparency and global cooperation, financial institutions have a vested interest in ensuring that AI development aligns with these principles.

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.

A string of senior resignations and scrutiny over share sales rocked Bank of America's local operations last year.

The Pittsburgh bank has been looking for the right target to acquire at the right time. But top company executives said Tuesday that deals are likely off the table in the near term because of uncertainty about the direction of tariff policy and interest rates.

Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.

The Buffalo, New York-based bank also said Monday that the commercial real estate lending market has started showing signs of life, but that the renewed competition is crimping its loan growth.

The U.K. challenger bank's Engine tech unit has registered in Delaware and will soon begin hiring a small staff on the East Coast. It faces the stiff challenges all new core banking software providers face in this country.

Just as two North Carolina universities have dominated college basketball in recent decades, two banks from the Tar Heel state have dominated much of U.S. banking since 1990, turning Florida, especially, into a "banking colony."