Banking

Some proposed changes to uniform mortgage-backed securities, apartment loans and derivatives will be made while one involving credit reports and scores was pulled.

OneMain Financial, which mainly offers consumer installment loans, is paying $115 million to buy a small subprime auto lender from the investment bank Jefferies.

Mago, who was fourth on American Banker's Most Powerful Women to Watch list this year, succeeds Brian Fishel, who is retiring.

Shifting from earlier plans, the FDIC has established a special committee to investigate allegations of harassment and a toxic workplace culture at the agency. It will be led by directors Jonathan McKernan and Michael Hsu and may include as many as three nonvoting members from outside the agency.

Bankers are hopeful that several factors could strengthen profits next year, including higher loan demand and more stable funding costs as the Fed holds the line on — or even lowers — interest rates.

Only 65.8% of surveyed households said they would be able to come up with $2,000 if an unexpected need arose within the next month, according to the NY Fed's latest survey of consumer expectations and credit access,

Unions have historically had little success organizing bank employees, but recent high-profile gains for the labor movement have fueled hopes that will change. The two elections at Wells Fargo will be a test.

Toyota's auto finance arm allegedly delayed customer refunds and provided false information to credit-reporting companies. The company must pay $48 million to compensate consumers, plus a $12 million fine.

A medical services company is suing the nation's largest bank, alleging that it refused transactions, closed accounts and erroneously told customers that the company was subject to sanctions by the U.S. Treasury Department. JPMorgan declined to comment on the suit.

In our ongoing battle against financial fraud, we need a holistic overhaul of the regulatory landscape to safeguard the financial industry and its stakeholders effectively.

This year 90 banks made American Banker's 11th annual Best Banks to Work For ranking. The leaders of these institutions explain what it takes to be an employer of choice.

West Plains Bank and Trust in Missouri, No. 11 on this year's Best Banks to Work For ranking, wins high marks for constructive training, employee development, team culture — as well as excellent benefits.

The financial institutions in American Banker's Best Banks to Work For ranking are skilled in hiring new talent and ensuring those employees want to stay.

Credit problems in business loans have risen in recent months, as companies that are in a weak financial position have started closing up shop. The difficulty in gauging which banks will face the most trouble is prompting many investors to stay away from the sector.

The banking-as-a-service pioneer has been reeling from the business since an enforcement action from a federal regulator last year.

The Federal Deposit Insurance Corp. has finalized a special assessment that is slightly pricier than originally proposed for banks with uninsured deposits of more than $5 billion. Trade groups voiced concerns that the largest banks are paying to clean up a mess created by regional banks.

Financial institutions can deploy generative artificial intelligence to connect with young consumers and turn them into customers for life.

Diebold Nixdorf is using artificial intelligence to spot trouble proactively — a move that has already increased ATM uptime by up to 3.5%.

2023 proved to be a rocky year for large regional banks. But under CEO Bill Demchak's guidance, the Pittsburgh-based company has navigated the turmoil better than many of its peers.

The chief executives of U.S. Bancorp, PNC and Comerica say that fraud, regulatory uncertainty, technological challenges and other concerns are making them approach the adoption of real-time payments with caution.