Banking

There is fundamental work involved in laying a modern data foundation and adopting a flexible, data-driven, cloud-based IT architecture suitable for AI implementation. Most banks aren't there yet.

OakNorth Bank in London is eager to utilize the data it's collected from providing risk management software to American banks over the past five years. Its growth plans include eventually acquiring a charter here and making commercial real estate loans.

Thousands of consumers had to wait more than 90 days for funds after their accounts were suddenly closed, according to the Consumer Financial Protection Bureau.

As the Federal Housing Finance Agency considers revising Federal Home Loan bank membership standards, it should consider the benefits of scale that large member banks make possible.

The Consumer Financial Protection Bureau's overdraft proposal would set fees at $14. With fee income under attack from many sides, bankers say they would have to further restrict credit.

The $1.1 billion-asset Vibrant is working with the San Francisco-based distributed ledger development firm Metallicus through its Metal Blockchain Banking Innovation Program to examine use cases.

A veteran Canadian bank analyst says Toronto-Dominion Bank's role in an alleged money-laundering scheme has made the "worst-case scenario" more likely — a huge fine for the lender and years of restrictions on its U.S. growth.

Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.

The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.

A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.

In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.

A group of HSBC Holdings Plc investors wants the bank to set a funding target for renewable energy amid concerns its current green pledges are too vague.

Former Silicon Valley Bank exec Floyd Kessler joins Comerica as executive vice president and chief business control officer; Melissa Holding succeeds Michael Robinson as head of wealth management at Huntington; Goldman Sachs' Alexander Mayer is set to take on a senior position at JPMorgan Chase; and more in this week's banking news roundup.

Banks maintain lists of consulting firms that they trust to help troubled commercial borrowers to fix their businesses. These specialists say they're getting more calls, especially in areas such as multifamily and CRE, from business owners who need help.

Nearly 15 years ago, Les Lieberman and other organizers of Porticoes Capital used a shelf charter to buy a spate of failed banks. Now they're hoping to replay the strategy.

The financial services company has found that engineers report higher satisfaction and save time when using a copilot to assist with coding.

Toronto-Dominion failed to submit suspicious-transaction reports in cases where it was reasonable to suspect the transfers were tied to money laundering or terrorist financing, along with other violations, according to the Financial Transactions and Reports Analysis Centre of Canada.