Morgan Stanley will have to pay $2 million for failing to flag trading in First Republic Bank by its former CEO. The transactions happened in the lead-up to the regional bank's collapse.
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The Minneapolis-based banking giant is enjoying its biggest year ever for 7(a) lending, with volume up 40%, as borrowers "are still coming to us," its SBA chief said.
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Prophecies about a wave of bank failures caused by sickly CRE loans haven't yet come true. But there are still plenty of caution signs in a saga that will take years to play out.
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Federal Reserve Gov. Christopher Waller said the central bank should lower its target interest rate now and execute a series of cuts in months ahead.
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Federal Reserve Bank of New York President John Williams said he's seen enough data to be comfortable with a rate cut at the Federal Open Market Committee meeting later this month.
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The institutions in American Banker's first grouping of top Credit Unions to Work For in 2024 are proving how important a fun but productive work environment can be.
American Banker's second grouping of the top institutions for 2024 are guided by leaders working to improve not just their offices, but the surrounding communities as well.
Here are some highlights about the largest credit unions that made the 2024 ranking of the Best Credit Unions to Work For.
Here is a look at the honorees from the 20 credit unions that made this year's Best Credit Unions to Work For ranking in this asset category.
Read more about the honorees from the smallest asset class of this year's Best Credit Unions to Work For ranking.
Each year, in advance of our Most Powerful Women in Banking and Finance awards, American Banker puts together a list of 15 women who are rising stars at their banks. The honorees, all women 40 years old and younger, are nominated by an executive at their institution who believes that she has the potential to ascend to the C-suite.
As a managing director within Citi Investment Management, a division that sits within wealth, White is playing an integral part in reshaping that line of business.
Wech worked her way up over the past 16 years from a trainee through the retail division, becoming a branch manager, the manager of multiple locations, a team leader and now a regional head for business banking.
The fintech topped American Banker's annual list this year. CEO Dave Buerger attributed the company's hands-off management style as one reason that draws in and keeps workers around.
DCI in Hutchinson, Kansas, is giving employees unsure about retirement the option to work part-time and gradually ease into the next phase of their lives.
Forty companies made the 2024 edition of American Banker's annual list of enviable workplace cultures in the financial technology space. Here is a look at some of what makes these firms employers of choice.
American Banker's Most Influential Women in Payments share their views on artificial intelligence, hybrid offices, real-time payments and more.
To protect their own talent pipeline, financial companies need to make sure that they're not only protecting the entry-level roles that AI threatens to take over, but getting the enthusiastic buy-in of the people most likely to be affected, according to experts from Fiserv, Segpay and Featurespace.
Ambitious women who feel trapped in their roles sometimes find themselves competing against others with the same goals. An effective way to advance may require stepping off the most obvious path, according to executives sharing their personal experiences at American Banker's Payments Forum.
Banks, payment companies, mortgage lenders and insurance providers are racing to seize an advantage from generative artificial intelligence. Some have been especially aggressive in deciding which workflows — or entire jobs — can be handed off to AI.
The first credit unions enrolled in the Federal Reserve's FedNow instant payments platform say it will fundamentally change the way they serve consumers and businesses across multiple categories.
Multifunction wallet apps will support shopping, loyalty, paying at the pump or EV charging station and crypto asset management, challenging the roles of U.S. financial institutions.
Visa, Mastercard and Global Payments discuss impacts on customer service, web content, security and more.
This year 90 banks made American Banker's 11th annual Best Banks to Work For ranking. The leaders of these institutions explain what it takes to be an employer of choice.
The application deadline for this annual ranking is May 10.
The smallest banks made up more than half of American Banker's Best Banks to Work For ranking this year.
2023 proved to be a rocky year for large regional banks. But under CEO Bill Demchak's guidance, the Pittsburgh-based company has navigated the turmoil better than many of its peers.
OFG Bancorp's CEO José Rafael Fernández has weathered tough times during Puerto Rico's economic downturn. Now he is hopeful that his bank can seize on the better times ahead.
As CEO, Gary Fukuroku has helped turn the Hawaiian-based institution into one of the largest in the state and has raised significant funds to help those affected by this year's wildfires.
Small Business Administration lending is an arena where community banks and nonbanks compete favorably with some of the largest U.S. financial institutions. Here are the biggest SBA 7(a) lenders based on the value of approved loans.
A key gauge of activity that tracks startups most likely to create jobs declined in October, potentially signaling the start of a slowdown after the rapid increase in interest rates. It presents a red flag for community banks and credit unions that are major lenders to small businesses.
Since the end of the Small Business Administration's 2022 fiscal year, the average loan size in its flagship program has dropped more than six figures. The addition of three new nondepository lenders could further drive down this figure.
But high costs and any downturn in the economy could weigh on lenders and their commercial borrowers in coming months, economists caution.
American Banker is proud to recognize the honorees for the second annual Most Powerful Women in Credit Unions.
Executives reflecting on the issues that doomed three banks say the closures stressed the importance of adapting quickly to change, and emphasized the advantages of the credit union business model.
Our annual list of The Most Powerful Women in Banking top teams.
Lisa Rickert and Ruth McCord, who manage branches for Nicolet National Bank, share a passion for connecting with their customers and supporting their communities.
Born in Venezuela, Lolita Peroza initially came to the U.S. to further her education and improve her English. Now 20 years into her banking career, she serves as a branch manager for Amerant Bank in Florida and is described by her boss as "always looking for additional opportunities to give back to the community."
The two branches Julie Celozzi oversees for the Orlando, Florida, bank amassed $400 million of deposits in three years. Such production is often a steppingstone to bigger things, but Celozzi — who began as a part-time teller in high school — says she is "hooked" on branch banking.
Grace Law, a Hong Kong native, seized an opportunity to work in a Chase branch in New York City more than 30 years ago. Today, she seeks ways to ensure her community — immigrants who are frequently overlooked by banks — has access to financial services.
American Banker is proud to recognize, in its third annual Most Influential Women in Payments, Next, the women under 40 who have demonstrated expertise, leadership skills and an ability to adapt in an ever-changing payments industry.
In her day-to-day job directing activities at the card network's Start Path accelerator, Sabrina Tharani helps nurture companies that are developing new payments products and services.
A rising payments star — and photographer — is helping the card network reach content creators and new entrepreneurs.
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The Consumer Financial Protection Bureau was created to protect the people from financial predation. But there are very different interpretations of what that means, and whether the people should be protected by — or from — the government.
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A regulatory proposal to raise bank capital has spurred banks to fight back with a populist appeal to consumers, while regulators say more capital is what's needed to save banks from more crises — and help consumers.
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Jake Donoghue, author of the book "Crypto Confidential," shares some of the worst practices he saw as a founder of a cryptocurrency company.
August 13 - Petrou, the managing partner at Federal Financial Analytics and a longtime observer of banking and regulation, says banks need to do far more due diligence on potential fintech partners and exert more control over these relationships.
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The Dallas company, which has been in transformation mode for three years, recently took a series of actions to try to meet the profitability targets it set for itself.
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Other estimates suggest nonbank mortgage employment grew in July as the industry cautiously added staff to handle incremental growth in demand for loans.
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The deal to buy the First of Long Island Corp. would create a $14 billion-asset bank with $11 billion of both loans and deposits.
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A survey of 135 financial services companies conducted by LexisNexis Risk Solutions, a subsidiary of LexisNexis, found that a vast majority reported increased levels of fraud in 2023.
September 5 -
Between TD Bank's $3 billion anti-money-laundering hurdle and BMO Financial Group's increased provisions for loan losses, here are the earnings highlights for non-U.S. banks.
September 5