Banking

The senators introduced legislation that would limit the interest rate card issuers are able to charge holders for the next five years.

Small lenders beset by the fallout from high interest rates took losses in the fourth quarter when they unloaded underperforming securities and loans. But they are reinvesting the proceeds into higher-yielding assets.

The Federal Reserve Board lifted two enforcement actions against the megabank dating back to 2011. But the Fed's seven-year-old asset cap remains in effect.

The House Financial Services Committee released a draft resolution under the Congressional Review Act to cancel the Consumer Financial Protections Bureau's rule limiting bank overdrafts to $5 in most cases.

Long-term partnerships between banks and fintechs are the real future of financial services. Pharmaceutical firms' relationships with contract research organizations offer a useful model.

A bill offered by Rep. Roger Williams, R-Texas, would repeal Dodd-Frank Section 1071 and eliminate any data-collection requirements for the Consumer Financial Protection Bureau.

The Bank of America branch in Altadena burned down last month. Now the bank must determine whether customers' prized possessions survived.

Nine bank branches, many belonging to top U.S. banks, were affected by the recent Los Angeles wildfires.

Fairfax-based MainStreet Bancshares is pivoting to the niche business as a means to boost its Avenu banking-as-a-service platform, which has failed to hit deposit and revenue targets.

An IT problem at the bank left thousands of customers locked out of their accounts for several days.

Jon Weiss, Wells Fargo's co-CEO of corporate and investment banking resigned from his position with plans to retire; A new CFPB report says military service members paid more for auto loans and add-on products; City National Bank's Kelly Coffee is leaving the bank after her 2023 demotion; and more in this week's banking news roundup.

Small lenders across the country filled leadership positions, including The Peoples Savings Bank in Ohio, which promoted from within to name its first woman CEO.

Catastrophic weather events illustrate the risks and opportunities for banks.

AI isn't inherently good or bad; its value depends entirely on how it's used. For financial institutions, this means shifting the focus from internal productivity gains to customer outcomes.

The Dallas bank made some headway on its goal to slim down its multifamily loan portfolio, but $17 million in bad loans led to a bottom-line loss in the fourth quarter.

The Long Island-based company, which is in the middle of a makeover, saw its stock price rise sharply after reporting a net loss that was less than what analysts expected.

The Rutherford-based Blue Foundry Bancorp reported an eighth consecutive quarter of red ink, but a widening margin and positive loan growth trends hint at better times ahead.

During fourth-quarter earnings calls, bank leaders said they don't expect borrower demand to pick up until the second half of 2025. But to the extent there's optimism, it involves business lending.

The Reno, Nevada-based buyer said it would pay $64.6 million in cash and stock for Cornerstone Community Bancorp, and it expects to close the transaction in the second half of the year.