Banking

Adam Metz has spent the past decade in senior management roles at Pennsylvania-based Orrstown. For the past year, Metz, served as chief operating officer and the designated successor to departed CEO Thomas Quinn.

Most banks are unprepared to stop or report an AI model run amok, a Wolters Kluwer study found.

The National Credit Union Administration proposed amending its common-bond provisions to allow the agency to approve some associations whose membership relies on the purchase of a product or service, a move banks say undermines the rationale for tax-exempt credit unions.

The digital bank released a treasury management system for its business users powered by a robo-adviser.

The bank's first institutional fundraising round brought its total funding to $222 million.

Chair Travis Hill wants to shift resolution planning away from lengthy bank-generated narratives and toward rapid access to critical operational data during failures.

Citi, DTCC and others are quietly using Hyperledger Besu as a neutral, enterprise-grade blockchain for tokenized deposits and collateral. Daniela Barbosa, general manager of decentralized technologies at the Linux Foundation, explains why.

Capital Community Bank is preparing to launch its fintech-focused rebrand by the end of this month.

OceanFirst Financial and Hanover Bancorp are among the banks paring back their exposure to the rent-regulated multifamily loan market in New York City. Mayor Zohran Mamdani has appointed six of the nine members of a board that's scheduled to vote later this month on a rent freeze.

Cathy Bessant, who was Bank of America's vice chair of global strategy when she retired, is joining Truist's board of directors and will sit on the company's risk committee. Bessant was American Banker's Most Powerful Woman in Banking for three consecutive years.

Brian Moynihan spoke of the challenges of developing and maintaining Erica, the bank's main internal AI model, with precision.

A private credit fund got suckered into the Aspiration Partners fraud; is that an 'it could have happened to anybody,' or a sign that the industry has low standards?

The corporate finance fintech now has a $44 billion valuation and is building out an AI token spend management offering for its 7,000-plus enterprise customers.

Research from the New York Fed suggests that the legalization of sports betting has important implications for consumer lenders.

Republican Sen. Joni Ernst is calling for more scrutiny of 10 lenders that were ejected from a Department of Agriculture program. Several of the lenders are pushing back, questioning officials' characterizations of their lending results and announcing appeal plans.