Banking

The CFPB is still without a permanent director, KeyBank has completed its acquisition of Clearwater UK, Flagstar's private bank has launched an insurance agency and a suite of discretionary managed investment portfolios, and more in this week's banking news roundup.

Return-to-office mandates in the financial services world are based more on senior executives' "gut" feelings than on real data. In many cases their main effect is to add stress to the lives of front-line employees.

Augustus National Bank, which is working to fulfill the conditions for its de novo OCC charter, was approved for federal deposit insurance by the FDIC.

A report released this week by Sen. Ron Wyden, D-Ore., shines a light on what is required of banks when high-net-worth clients engage in suspicious activity.

The latest consumer conditions study from the American Financial Services Association paints a less-than-rosy picture of how lenders expect the second half of the year to play out.

The online lender said its national bank will become the "primary originator," displacing the banks that are lenders of record. Loan buyers keep their role.

Supporters of mutual banks are lining up behind a proposed regulatory overhaul. The Fed's plan would make it easier for depositor-owned banks to raise capital.

Having a trust bank will allow the stablecoin company to offer custody products and to have flexibility in where and how it issues its stablecoins.

The fintech's network lets banks and fintechs share results of KYC and KYB checks, known bad-actor lists and other customer information. A key use case: helping sponsor banks monitor their fintech partners' compliance with banking regulations.

The latest in a new breed of bank competitors is Zaria, a servicer of traditional and digital asset-backed loans for institutions, which has requested a national trust bank charter from the OCC.

A new Federal Reserve Bank of Boston report shows bank lending to private credit has grown over the past decade, though insight into the opaque lending market is limited.

If the Federal Reserve wants to keep the U.S. dollar competitive in the 21st century it must move boldly to declare dollar-backed stablecoins equivalent to other forms of money.

Neither company would say how many patents the deal covers, whether either paid the other or whether USAA pressed its claims first.

Banco Santander's pending acquisition of Webster Financial got approval from the Federal Reserve Board about five months after the deal was first announced.

Big banks, including San Francisco-based Wells Fargo, are eager to defend themselves from the competitive threat posed by stablecoins, analysts say.

Looking at the competitive structure of the core-provider business illustrates why challengers have such a hard time winning business from the big three.

Consumers increasingly trust third-party AI tools nearly as much as their own bank, according to recent survey data. Industry experts lay out what banks need to do now to keep their edge.

A portfolio review initiated by BCB Bancorp's new CEO, Tom O'Brien, led to a spike in nonaccrual loans at the Bayonne, New Jersey-based bank.