Banking

The group behind the proposed Georgia Skyline Bank says recapitalizing a 24-year-old Virginia bank offers a faster path to success than a new charter would.

IDScan.net removed the pages naming its bank and credit union integrations after KrebsOnSecurity traced 153 million license scans to the company.

A consortium of international FIs are planning to issue a U.S. stablecoin in early 2027; London-based OpenPayd has entered the U.S. through its acquisition of MSB USA; the U.K. fined Citi £4.7 million ($6.3 million) for hundreds of transactions in breach of sanctions against Russia; and more in this week's banking news roundup.

The controlling owner of Santa Fe-based Century Financial Services Corp. wound up in bankruptcy court. Now his 71% stake is on the verge of being sold to an Oklahoma bank.

The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.

The digital bank announced a collaborative partnership with the crypto exchange platform as it continues to expand its overall digital asset strategy.

One of the benefits of the Clarity Act is that it would codify much of digital asset firms' anti-money-laundering responsibilities. This is good news for banks that have been understandably nervous about counterparty risk.

A new consortium of community banks plans to offer deposit insurance above the FDIC's $250,000 limit. But skeptics say such private-sector efforts have a spotty history.

The agency approved a full-service national bank but gated four product lines behind separate sign-offs, a condition advisors say is unlike other approvals.

Equity Bancshares in Wichita, Kansas, had been looking for a way to establish a significant Iowa presence. By acquiring Lincoln Bancorp, which has 16 branches in the state, it's found a way in.

The instant payments company announced a $155 million fundraise and has filed to acquire Transact Bank, which it wants to convert into TabaPay Bank.

Settlement services, whose debt-reduction models require advising borrowers to default on their loans, wreak havoc on their customers' credit ratings, often leaving them worse off than they were before.

Banks are more prone to say artificial intelligence model performance has a high level of risk than credit unions, according to new American Banker research.

The bank's strategy for getting from experimentation to measurable ROI is a model others should consider.

The core provider says ShinyHunters' breach affected fewer than 10 financial institution clients.

First National Bank of Omaha's planned acquisition of InBankshares in Denver comes less than three months after it agreed to acquire a Kansas City-area bank.

The claim that community bankers are somehow being manipulated into supporting changes to the CLARITY Act that would benefit big banks is wrong. The threat to deposits from stablecoin yield is real and dangerous.

Farmers & Merchants Bank of Long Beach took an $85 million loss on the sale of $1 billion worth of municipal bonds. It plans to reinvest the proceeds into higher-yielding loans and investments.

Princeton Professor Markus Brunnermeier warned bank regulators to get ahead of the risks AI poses to banks and markets.

The Republican proposal would bring the CFPB under congressional appropriations and curb several of its regulatory powers.