Risk

The Long Island bank is trying to come back from a month-long spiral that sunk its stock price some 80%.

The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

How the FDIC, the Federal Reserve and other regulators are working to keep banks in compliance through 2024.

The troubled Long Island-based lender laid out steps that it's taking to improve its loan-review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shake-up and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.

Acting Comptroller of the Currency Michael Hsu offered more details about forthcoming interagency rules to establish operational risk standards for large banks, including a focus on "critical operations" and third-party service providers.

Bank of America, Citi and Navy Federal are among banks and credit unions to recently manage through unforeseen challenges.

Bipartisan legislation is ready for consideration in the Senate, but even if that fails, regulators have the tools they need to rein in excessive risk taking.

The Long Island bank plans to balance its loan mix and fix its risk controls. But following a large capital injection led by two former Trump administration officials, the new leadership is asking for more time to formulate its strategy.

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.