Banking

The current interest rate environment advantages banks over their fintech competitors. That can't be allowed to stifle invention.

JPMorgan Chase is planning to launch a digital bank in Germany as its second international consumer outpost, a move that will create a launchpad for the biggest U.S. bank to further expand in Europe.

As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting.

Consumer Financial Protection Bureau Director Rohit Chopra plans to propose a rule to set late fees at reasonable levels and no longer peg late fees to inflation.

The scandal's roots stretch back more than a decade. In a corporate environment that doesn't welcome bad news, problems fester.

The Nebraska Bankers Association says legislation to prevent the state treasurer from depositing public funds in banks that would use them to fund environmental or social causes is "too vague."

The San Mateo, California-based online consumer lender has now laid off some 500 employees in recent months. The downsizing reflects broader challenges in the tech industry, but it also comes as Upstart struggles to get enough funding for its loans.

The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.

In this month's roundup of American Banker's favorite stories: Development of central bank digital currencies gains momentum, ongoing lawsuits against JPMorgan Chase and PNC address the banks' liability and more.

The Virginia Beach-based credit union recently launched Chartway Ventures to invest in fintechs and other organizations.

The Radnor, Pennsylvania-based financial technology company made an unsuccessful bid to buy a bank. Now it is shifting into expense-reduction mode.

Famous for his hand-typed "Guenther-gram" messages, the longtime Independent Community Bankers of America CEO played a critical role in boosting the trade group's political clout after it moved to Washington from Sauk Centre, Minnesota, in 1982.

Rising inventories and the specter of regulation may make it seem like the pandemic auto boom is over, but broader trends could make it a profitable business if banks do it right.

As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door.

First Central Credit Union in Waco, Texas, agreed to purchase the branch and various assets from the bank, which is refocusing on its Harris and Tyler County markets.

The $41.2 billion-asset Los Angeles bank says it will wind down its premium finance and multifamily lending segments and intentionally slow loan growth.

Indexes show heightened expectations for a recession and souring loans. But executives are upbeat about middle-market businesses and overall job growth.

The Rosemont, Illinois-based bank said its longtime CEO Ed Wehmer will retire from the post in May and become executive chairman. Timothy Crane, who joined Wintrust in 2008 and became its president in 2020, will take over the top job.

Banks need to be cautious about negotiating pre-merger Community Benefit Agreements with nationwide activist groups. The deals carry real reputational hazard.

Credit Acceptance Corp., a major name in subprime auto finance, is facing a legal challenge over its lending practices. Some lawyers and analysts say the company's battle with the Consumer Financial Protection Bureau has broader implications for the rest of the industry.