Banking

Bank leaders and industry observers are starting to worry about the risk of automation complacency, where glazed-eyed workers fail to see mistakes made by AI models that are right most of the time.

The agency is in discussions with the rent-rewards fintech regarding how it handled a card changeover after Wells Fargo ended its partner bank contract early.

While the move is seen in a positive light, lenders and Trump administration officials are still angling to raise the loan-size limit within the agency's flagship 7(a) program.

While bank CEO pay increased across asset sizes last year, the CEOs of the nation's largest banks received the biggest boosts in total direct compensation, according to a study.

The Federal Reserve's former top regulator said recent efforts to reform regulation and supervision have boosted executive compensation and share buybacks, not the broader economy.

The Omaha, Nebraska-based company announced its second purchase of a Kansas City-area bank in just over a year. It plans to keep expanding in the fast-growing market, according to Chairman and President Clark Lauritzen.

Joseph Sanberg was handed a 168-month prison sentence for two counts of wire fraud after the celebrity-backed ecofintech collapsed last year.

The order asks major AI companies to voluntarily give the government a preview of their latest models. 

Globally, the war had varying impacts on banks' first-quarter provisions, according to a new report. U.S. banks reported limited reserve-building in response to the conflict.

Fintechs grew four times faster than incumbent banks to generate 4% of last year's total global financial services revenue.

BCB Bancorp in Bayonne, New Jersey, is turning to veteran bank executive Tom O'Brien to accelerate its turnaround after reporting significant losses in 2025.

The incredible demand for credit, numbers reaching into the trillions, is luring banks back into the very risk markets that got them in trouble 20 years ago.

The Minneapolis-based bank is offering loans to providers planning to build practices from scratch — a reversal after years of serving only existing practices.

Since Michael Rhodes became its CEO, Ally Financial has gotten bigger by thinking more narrowly. Instead of growing the company's web of businesses, the company has exited some sectors while doubling down on what Ally does best: auto lending.

The global card network is working with cross-border fintechs like PingPong to help business customers use Visa to pay suppliers who don't accept credit cards.

Governor Greg Abbott proclaimed Texas the "financial capital of America" at the Texas Bankers Association's annual convention; Columbus, Ohio-based Northwest Bank named Chad Ballard chief information officer; Deutsche Bank terminated some staff as a result of its client relationship with convicted sex offender Jeffrey Epstein; and more in this week's banking news roundup.

Farmers and Mechanics Federal Savings Bank in Bloomfield, Indiana, last turned a profit in 2023.

People are becoming increasingly wary that things they see, read and hear may be AI-generated rather than authentic. To maintain customer trust, banks need to leave no doubt that they are people-driven organizations.

The Canadian-American bank's first AI agent does the work of gathering any missing documents and verifying data for mortgage applications. 

The narrative of fintechs as dramatic disrupters of traditional finance is wearing thin these days. More and more established fintech firms have discovered the value of respectability, and deemed it to be worth the cost.