Banking

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

Banks and credit unions are steering away from stablecoins chiefly due to lack of customer demand, per new American Banker research.

Financial services firms have a responsibility to help more people — especially younger generations — navigate an increasingly complex financial landscape with clarity, confidence and optimism.

Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.

The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.

The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.

AlumniFi, the digital banking arm of Michigan State University's official credit union, is now an official bank partner for the NCAA's Big East conference.

Spring Bank CEO Barry Mann has accumulated a 6% stake in New York City-based Carver Bancorp. Carver has a history of underperforming, but Mann is optimistic about its chances under new CEO Donald Felix.

Real due process in bank supervision is not merely administrative housekeeping — it is fundamental to the credibility, fairness and effectiveness of the regulatory system.

The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.

Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.

In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.

Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.

Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.

The enhanced Supplementary Leverage Ratio has for too long wrongly penalized low-risk market-making activity by U.S. banks. Targeted reforms come at a time when liquidity is about to be severely tested.

The Cincinnati, Ohio-based bank delivered third-quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.

The Charlotte, North Carolina-based bank reported net income of $1.45 billion for the third quarter and earnings per share of $1.04, which beat analysts' forecast of $0.99 per share.

Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.

The Buffalo-based bank said Thursday that the paring of its CRE loan book, which has nearly halved in volume over the last three years, may be near its inflection point.

Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.