Banking

The banking industry needs to seriously grapple with the potential — for good and for ill — that generative AI presents for its future.

A London court handed a big win to Deutsche Bank and other creditors holding obscure notes issued by Lehman Brothers before its collapse.

The Port Angeles, Washington-based bank said it has already invested "significant resources" into enhancing its compliance management for fintech partnerships, after self-reporting a problem last year.

Total loans at U.S. banks with less than $10 billion of assets grew by 1.9% in the third quarter, according to S&P Global Market Intelligence data. That was a slowdown from the previous quarter, and concerns about the viability of commercial real estate lending could dampen activity further.

Morais, who leads the auto lender's consumer and commercial banking divisions, is preparing to leave as Ally Financial conducts a search for its next chief executive officer. She had been seen as a potential candidate to replace outgoing CEO Jeffrey Brown.

Small towns, in which community banks are disappearing, have increasingly little to offer nascent businesses in the way of reliable credit.

Synchrony Financial bought Pets Best ahead of a pandemic-driven surge in the pet insurance business. Now it's selling the subsidiary for a $750 million after-tax gain.

The 10 largest credit unions in the nation all saw surges in credit card charge-offs in the third quarter, as a growing number of consumers struggle to make ends meet.

The seller, Merchants and Manufacturers Bank in Illinois, has experienced rapid growth and zero lifetime losses in its niche portfolio. First Busey says that business line was a key reason it decided to buy its in-state peer.

A proposal by the Consumer Financial Protection Bureau to hide medical debt from credit bureaus zeroes in on the unfairness of medical debt, but further reducing credit scores' utility as a proxy for a borrower's ability to repay doesn't do anyone any good.

The smallest banks made up more than half of American Banker's Best Banks to Work For ranking this year.

Two dozen institutions fell into this midtier asset category for American Banker's Best Banks to Work For ranking this year.

Eleven institutions with at least $10 billion of assets made American Banker's Best Banks to Work For ranking this year. Read on to see who made the cut.

Firms including Banco Santander and Toronto-Dominion Bank's U.S. investment banking arms have been adding to their convertible bond teams, anticipating that companies refinancing existing debt will be drawn to the asset class in the next several years.

Financial firms claim a proposal by the Consumer Financial Protection Bureau would restrict lending, raise borrowing costs and result in more denials of credit to consumers.

The pressures and frustrations of daily work lose some of their ability to aggravate when you consider how much real choice you have in the matter.

The big China deals that lined rainmakers' pockets for decades have evaporated. Banks and law firms alike are cutting jobs. Those advisers that remain are chasing smaller deals and taking extended vacations.

The BSBY interest rate benchmark was originally envisioned as a successor to the once-ubiquitous Libor rate. But it failed to gain much traction, and Bloomberg now plans to shut it down next year.

The Champaign, Illinois-based company said it would pay $41.6 million to acquire Merchants and Manufacturers Bank Corp., which has five branches in the Greater Chicago area.

Stress tests suggest systemically important depositories could weather current risks. Meanwhile, single-family arrears remain low, but that business could be impacted.