Banking

Paul Taylor, one of the company's directors, will become president in anticipation of succeeding Matthew Wagner, who has been chief executive for 22 years and plans to retire at the end of 2023.

Edwin L. Williams, who has been at the helm since 1997, will step down as president and chief executive at the end of the year.

The founder and CEO is being recognized during American Banker's Digital Banker of the Year program for establishing one of the true banking-as-a-service platforms at the New York-based Piermont.

Constraining consolidation will only hurt the goal of expanding consumers' access to banking services and credit.

With household expenses and borrowing costs spiking, banks are bracing for depositors to demand more interest. The only question is how much longer bankers can hold out.

The rules, which come almost four years after California lawmakers passed a landmark disclosure law, require lenders to inform borrowers about annual percentage rates. Some lenders have pushed back, arguing that APRs don’t make sense for certain types of financing.

John Madigan, a Citigroup veteran, is leading one of five new private-client banking groups at Signature Bank. The moves are designed to enable the company to expand its footprint throughout metro New York.

The smaller credit union, Dearborn County, sought a merger partner as a way to address its aging technology and shrinking membership pool.

The two regional banks announced plans to abandon nonsufficient fund fees and make other moves that will reduce the revenue they collect from cash-strapped consumers.

Data as of Mar. 31, 2022. Dollars in thousands.

Data as of Mar. 31, 2022. Dollars in thousands.

Brian Brooks, an acting head of the Office of the Comptroller of the Currency during the Trump administration, says the CEO of one of the largest U.S. banks considered barring customers from using its cards to buy firearms.

Accounting for roughly $1.2 trillion of assets, many credit unions are physically and financially endangered by climate change, according to a new study.

The crypto lender Celsius Network’s shock announcement that it’s freezing withdrawals sparked a rush by companies in the digital-assets sector to reassure markets about the health of their operations.

The agency’s proposed data collection and reporting requirements would disproportionately burden community banks, which lead the nation in small-business lending.

Allan Rayson of Encore Bank has been named American Banker's Digital Banker of the Year for leading a tech transformation and working with fintech partners that help the Arkansas bank serve commercial customers.

JPMorgan Chase and Bank of America both lost substantial business in the state's lucrative municipal finance market following the passage of laws that ban discrimination against the firearms and energy sectors, according to new data.

The Biden administration’s continued extension of a student loan payment moratorium and the uncertain future of a debt forgiveness plan are causing confusion and uncertainty.

With the industry facing increasing pressure around climate disclosures, a new report highlights the challenges in measuring financed emissions as well as the potential payoff for banks that choose to be proactive.

The American Bankers Association’s credit conditions index fell sharply, as economists foresaw dampening loan demand. The weaker outlook lines up with major bank CEOs’ increased worries over a possible recession.