The retail giants are kicking the tires on their own currencies. The potential prize is a way to reimagine prepaid cards and gain a key position as new forms of artificial intelligence-powered payments take off.
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Primis Bank plans to sell an undisclosed amount of its 19% ownership stake in Panacea Financial, a digital-only lender focusing on medical professionals and veterinarians. The deal should yield $22 million.
7h ago
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The impact of President Trump's tariffs is the top concern for most middle-market American businesses, a new KeyBank survey found. But these firms also view the scrambled landscape as a chance to innovate and restructure.
8h ago
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A Trump-appointed judge refused to dismiss a settlement between the Consumer Financial Protection Bureau and a Chicago mortgage lender over lending practices that an appeals court already said violated the Equal Credit Opportunity Act.
11h ago
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In USAA's battle with banks over mobile deposit technology, which it says it invented, a bank has scored a rare victory.
9h ago
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The Federal Reserve Board banned a former relationship banker in Arkansas after he was caught stealing customer funds; Benchmark Federal Credit Union plans to merge with Franklin Mint Federal Credit Union to form a $2.1 billion-asset institution; Robin Vince, CEO of Bank of New York Mellon since 2022, has been elected chairman of the board; and more in this week's banking news roundup.
8h ago
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At a preliminary injunction hearing seeking to determine whether two sidelined appointees are shielded by removal protections, a federal judge pressed both sides on whether the independent credit union agency exercises executive power.
June 13
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.
Two bankers detailed how artificial intelligence is transforming fraud detection and incident response for their institutions. The technology lets analysts ask datasets direct questions.
Brian Minick, who is in charge of cybersecurity for the bank, shared important cyber insights at an American Banker conference this week.
A string of senior resignations and scrutiny over share sales rocked Bank of America's local operations last year.
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.
- Sid Khosla, EY Americas banking and capital markets leader, predicts that, over the next two years, 20% of generative AI cases will drive 80% of the value across financial institutions. In this podcast, he explains what those use cases are and how banks can make the most of them.
- Theo Lau, founder of Unconventional Ventures and author of the new book Banking on Artificial Intelligence, shares a vision of how banks could help consumers navigate financial uncertainties.
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A recent federal road map helps banks implement a security model where no user or device is trusted automatically — a drastic departure from legacy systems.
June 12
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Bankers are finding creative uses for generative AI in their personal lives.
June 12
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A non-bank lender won't ever compete with a bank on price, but can offer flexible underwriting and faster origination times, according to a veteran originator.
June 12
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JPMorganChase CEO Jamie Dimon said he wouldn't invest in the private-credit business if he were in different shoes. Meanwhile, an executive at Zions Bancorp. predicted that the sector's rapid growth will end badly.
June 12
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The Senate voted 68-30 to invoke cloture on the GENIUS Act, which aims to regulate stablecoins, including backing from all Republicans and 18 Democratic lawmakers.
June 11
