Scattered Spider, a cybercrime gang whose targets include banks, has seen five of its members arrested for SIM-swapping and phishing schemes that stole millions.
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The Consumer Financial Protection Bureau has fined Synapse $1 for its role in a $60 million to $90 million shortfall in fintech users' accounts.
August 22
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Small practices are still mired in paper. Fiserv has joined banks such as JPMorganChase and Citizens in applying new third party transaction technology to the tricky sector.
August 22
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A federal appeals court granted the government's request to pause a ruling that briefly restored Democratic National Credit Union Administration board members Todd Harper and Tanya Otsuka, leaving the regulator with a single board member pending appeal.
August 22
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The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her "if she doesn't resign" over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.
August 22
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Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.
August 22
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Erik Porter will succeed Lisa Oliver as president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are named co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America's global investment banking unit; and more in this week's banking news roundup.
August 22
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Big banks with the strongest financial performance varied in asset size, geographies and services.
Growing loans was a tall order in 2024, but banks that could do just that were able to outperform their peers.
The 5-year-old experiment of tying executive compensation to achieving diversity goals appears to be ending. The abrupt shift comes amid the Trump administration's crackdown on DEI.
The CEOs of smaller regional banks received fatter bonuses last year than their big-bank counterparts, possibly thanks to low performance expectations at the smaller banks after the 2023 banking crisis.
The OCC's approval of SmartBiz buying a bank opens the door to other fintech M&A deals for accessing bank charters, which can help a fintech stay in business.
The 10 winning innovations span categories from AI and payments to risk and compliance. An overall winner will be announced at American Banker's Digital Banking event on June 2.
The Brazilian neobank expanded its bank accounts for minors with new features in 2024 by adding high-yield savings "boxes" and expanding parental controls.
As real-time payments become more common, UBB's partnership with fintech Pidgin offers a roadmap for smaller banks to stay relevant.
As the class action lawsuit settlement industry became overwhelmed with fraud, a bank and a fraud scoring company teamed up to fight back.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
The CEO of First Northwest Bancorp is promising to fight a lawsuit claiming the lender helped a client perpetrate a Ponzi scheme that bilked a hedge fund out of more than $100 million.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
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The banks have invested in gen AI and embedded finance, respectively.
August 12 -
John Buran shares how his New York bank and its small business customers are faring with tariff uncertainty — and how some have quickly changed suppliers and modified business plans — in the latest American Banker podcast.
July 15
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Trump has yet to decide when Fannie Mae and Freddie Mac will return to the market in an IPO that regulator Bill Pulte says could top $1 trillion.
August 21
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Horizon Bancorp said it will raise about $200 million in capital to fund a major balance-sheet restructuring. The move would dilute existing shareholders, and the company's stock price dipped on Thursday.
August 21
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The digital bank gives its business clients the option of feeding their bank account data into Anthropic's large language model, which will then provide answers to their questions.
August 21
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More nonbank digital asset firms are applying for national trust charters, a development that many banking organizations oppose due to what they say is inadequate oversight, lack of congressional intent and no FDIC backstop.
August 21
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The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.
August 20
