CEO Jamie Dimon has called the AI initiative, which includes a vast hiring campaign, "critical to our company's future success."

Longstanding factors such as the share of local deposits held by each bank will no longer be the main considerations in determining the competitive effects of a deal, said Assistant Attorney General Jonathan Kanter. His speech was interpreted as a hint that banks seeking merger approvals could face tougher times ahead.

California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That's wrong and short-sighted.

Smith joined the bank in January after serving as president of Keller Home Financial Services and heading Citi's U.S. mortgage business.

The American Bankers Association's credit conditions index remained near historic lows despite a slight uptick in the most recent quarter. Pessimism pervaded the outlook for both business and consumer lending.

Discover Bank launches financial health fund, Cross River Bank climbs past real-time payment transaction benchmark, Webster funds financial education at youth-focused nonprofits and and more in this week's banking news roundup.

For years, the Japanese-owned bank engaged in deception with respect to three different kinds of fees, regulators found. U.S. Bank inherited the liability when it acquired MUFG Union last year.

Tony Macchi will be in charge of the Massachusetts community bank's ongoing digital transformation

Both regional banks announced weaker guidance for net interest income than they had foreseen two months ago. The disclosures highlighted pressures that figure to take up a lot of the oxygen during second-quarter earnings season.

Earlier this week, Wilson and his team of strategists said in a note that they expect S&P earnings to drop 16%, compared to predictions for a decline of just 2.4% for 2023 from sell-side analysts who have boosted their earnings expectations.

State Employees Credit Union in Raleigh, North Carolina, named Leigh Brady as its new chief executive. Outgoing CEO Jim Hayes will run State Department Federal Credit Union in Alexandria, Virginia.

Hafize Gaye Erkan becomes Turkey's first female central bank governor and faces the unique challenge of working for a president who believes that cheaper money leads to slower inflation.

Bank of America had been considering a bid for First Republic after it was seized by regulators, but ultimately dropped out of the process.

The firm reached an "agreement in principle" to settle the proposed class action filed by an unnamed Epstein victim late last year, JPMorgan said in a statement Monday.

PacWest Bancorp has completed the first part of the sale of a $5.7 billion loan portfolio to the real estate investment company Kennedy Wilson Holdings as the U.S. regional bank takes steps to shore up liquidity.

A West Virginia homeowner is suing the banking giant for charges incurred when paying by phone, claiming breach of contract and violation of consumer protection laws.

Five Star Bancorp expands into San Francisco, American Express to integrate with data aggregators Plaid and Yodlee, Bank of America reworks leadership in its investment banking unit and more in this week's banking news roundup.

Binance.US told users its payment and banking partners had signaled an intent to pause support for the exchange's dollar channels as early as June 13.

Years of consolidation have damaged competition in the banking sector. Regulators should be more, not less, restrictive about approving mergers.

Citigroup, Bank of America, Wells Fargo and KeyCorp are part of a coalition that last year pledged to move $1 billion of deposits to minority depository institutions and community development financial institutions. On Thursday, organizers announced that the group has reached its goal.