Banking

The Canadian bank's U.S. unit is restructuring its balance sheet and managing the fallout of anti-money-laundering compliance failures, but there were some positive indicators in last quarter's results.

The largest independent digital investment advisor in the U.S. is buying the automated investing arm of the woman-focused company.

The Consumer Financial Protection Bureau voluntarily dismissed a lawsuit against Capital One brought under the Biden administration alleging the bank failed to honor interest rate promises, costing consumers an estimated $2 billion.

Under grilling from Senate Democrats, Consumer Financial Protection Bureau Director-designate Jonathan McKernan agreed to continue the statutory mandates of the bureau, but refused to comment on Elon Musk, stop-work orders, or litigation that has been dropped against financial firms.

The island's largest bank promoted President Javier Ferrer to CEO, effective July 1. He will succeed Ignacio Alvarez, who will retire from the company at the end of June.

Partnerships between innovative banks and fintechs must adopt a "shared responsibility" model for the safety and soundness of the partnership.

Regulators need to consider the risk and complexity of a BaaS companies and connect the dots to bank safety and soundness and consumer protection.

Changes are needed to shore up the agency's finances and guarantee the integrity of its flagship 7(a) lending program, according to a leading trade group.

The lack of government clarity on stablecoins has prevented traditional financial institutions like large banks from entering the space.

House Financial Services Committee ranking member Maxine Waters, D-Calif., asked trade groups representing large banks to detail how their members' compliance regimes have changed since the Consumer Financial Protection Bureau was effectively shuttered.

Whether addressing a large audience or interacting with individual employees, the most effective communicators are those who leave their audience feeling a little smarter for having listened to them.

In a forum Tuesday, Senate Democrats railed against President Trump and Elon Musk's efforts to shutter the Consumer Financial Protection Bureau as anti-consumer and illegal.

The Illinois company plans to acquire neighboring Bancorp Financial in a cash-and-stock transaction that would form the second largest community bank in the Chicago area.

The Federal Deposit Insurance Corp. said while bank earnings rose in Q4 2024, smaller banks weren't as fortunate amid realized losses on securities sales.

The third-largest Canadian bank by assets is preparing itself and clients for the Trump administration's proposed 25% tariffs on Canada and Mexico.

Brian Moynihan, chairman and CEO of Bank of America, said the future of banking lies in tech.

Big banks are investing in quantum computing. What does that mean for the future of finance? And, more importantly, will they ever become useful?

Brian Moynihan argued Tuesday that the president's allegations of politically motivated debanking stem from the problem of overregulation.

The Champaign, Illinois-based bank said Jeffrey Jones stepped down from his post days before it could close its acquisition of CrossFirst Bankshares. Jones' exit was not deal related, Busey said.

The ABA, BPI and SIFMA are among the groups asking Sacks to make it easier for banks to engage in crypto-related activity.