Banking

Financial institutions such as U.S. Bank and USAA are seeing high engagement with their customers via the mobile app. Experts say banks need to do a better job of capitalizing on this interest.

Federal banking agencies asked the Fifth Circuit to lift an injunction on new community lending regulations, arguing that the court misinterpreted the scope of the Community Reinvestment Act's reach.

Following Sunday's news of President Biden's decision not to seek reelection, see how the past two administrations handled banking reforms and what the future might hold.

Arrested four times for blocking the entrance to Citigroup, a veteran climate protester wonders why more rank-and-file bankers don't make common cause with activists trying to prevent the funding of fossil fuel development.

When the superregional bank sold its insurance business for $10.1 billion, it laid out three ways to use the proceeds: buybacks, a balance sheet repositioning and loan growth. The latter plan is so far proving to be elusive.

Bank OZK is the latest commercial real estate-heavy bank to announce plans to diversify its business. CEO George Gleason emphasized that he's confident in the bank's loan portfolio, but said he thinks misperceptions are dragging down the stock price.

In this edition of American Banker's news quiz, test yourself on the latest items covering FedNow's progress since launch, the merger between Capital One Financial and Discover Financial Services and more.

Deanne Zettler is taking on a newly created role at PCI SSC; Wisconsin's Landmark Credit Union is opening a new, tech-forward branch; Mo Assomull is named co-head of investment banking at Morgan Stanley; and more in this week's banking news roundup.

The Alabama-based bank also said that its outlook for net interest income is brightening. Several other regional banks have offered similarly upbeat guidance in recent days.

Lenders and financial institutions should allow consumers to report nontraditional financial activities in an effort to adopt and validate newer, more inclusive credit scoring models.

Indirect auto loan originations at the Ohio-based bank rose by 31% from the first quarter. Huntington sees the business as an opportunity at a time when numerous other banks have been pulling back.

The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau's plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.

The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.

The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.

The Georgia-based bank recorded a $257 million hit after unloading a bundle of securities that it expects to redeploy into higher-yielding assets. It also forecast a resumption of loan growth in the second half of the year.

Financial services supervisors should revisit the concept of regulatory sandboxes. Doing so would allow fintechs to gain needed experience in the world of banking, while fostering innovation.

The Cleveland-based regional bank continues to benefit from strength in investment banking, though concerns about stalled loan growth emerged as CEO Chris Gorman described demand as tepid.

Payroll advances would be considered consumer loans under an interpretive rule by the Consumer Financial Protection Bureau that would require disclosures of annual percentage rates and fees under the Truth in Lending Act.

See which bank topped American Banker's annual ranking of the best-performing midsize institutions.