The White House has tapped former Federal Deposit Insurance Corp. director Jonathan McKernan to lead the Consumer Financial Protection Bureau and attorney Jonathan Gould to lead the Office of the Comptroller of the Currency late Tuesday.
CEO-designate Gunjan Kedia said payments growth is critical to the Minneapolis-based regional's overall success. Dealmaking will take a back seat to organic growth for the time being, she added.
In comments to reporters, Sen. Elizabeth Warren, D-Mass., underscored what she said was a conflict of interest between Elon Musk's DOGE's actions at the Consumer Financial Protection Bureau and his business interests with X Money.
Joseph Otting, who is leading Flagstar's turnaround, said potential buyers may be interested in acquiring the regional bank once it gets past certain challenges.
The superregional in Pittsburgh said banks large enough to attract its attention have yet to put themselves on the sale block. PNC's finance chief said, "We just have to be ready if and when those windows open."
Eric Council, Jr. will spend two years in prison for an identity theft scheme that led to a false post by the SEC on X that bitcoin ETFs had been approved.
In his semiannual testimony before the Senate Banking Committee Tuesday, Federal Reserve Chair Jerome Powell said the effective shuttering of the Consumer Financial Protection Bureau leaves no federal regulator in charge of policing large banks for consumer protection law compliance.
FinTech Forward, a collaboration of American Banker and BAI, brings together the research, media, and event capabilities of banking's top two professional information and education organizations.
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The digital banking software provider recently received $160 million in funding and hopes to grow its bank client list as it upgrades product offerings.
February 10
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Ramp, NerdWallet and Rocket all released commercials at this year's Super Bowl where the Eagles defeated two-time reigning champions the Chiefs.
February 10
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Desmond will be succeeding Pierre Naudé in leading the bank technology provider.
February 4
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Long-term partnerships between banks and fintechs are the real future of financial services. Pharmaceutical firms' relationships with contract research organizations offer a useful model.
February 4
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As Elon Musk and his associates gain access to internal computers, Oregon Democratic Sen. Ron Wyden slammed the move and said it poses a national security risk. Musk said the Treasury system isn't adequately fighting fraud and is also attempting to shut down USAID.
February 3
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The company's software automatically monitored and negotiated bank fees on customers' behalf, with recent expansions into buy now/pay later bill management.
January 31
Mobile phones are only going to become a bigger part of how banks interact with their customers, so several institutions are looking to enhance that experience. They are focusing on better ways of opening accounts, verifying identities, interacting with customers and offering new services and features. Here are some of the improvements announced this year.
In the age of big data, banks should be king. After all, which industry knows more about people and how they behave than the holders of deposits? But all that data is useless without leaders who know how to effectively analyze it. American Banker recently polled data and analytics chiefs at banks about the trials and tribulations of big data and the art of finding insightful information. Here are some of their responses.
The era of banks and fintech companies cozying up to each other is in full bloom. Fintechs realize they can better disrupt the industry from within, while banks are looking for partners to help them navigate the digital world. Here's a look at how banks worldwide are buying, investing in and in some cases lending to fintech firms.