Commercial banking
The Mississippi bank would take a big hit to capital and income but avoid the risk of a bigger payout from a guilty verdict in litigation against banks that did business with Allen Stanford's disgraced financial empire.
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At the start of 2022, banks sat atop a flood of deposits. But as the year progressed, they faced greater pressure to pay higher rates, and the trends that drove the rapid shift show no signs of abating.
December 28 -
Two long-awaited developments — the Consumer Financial Protection Bureau's data access proposal and the Federal Reserve's faster payments network debut — are slated for next year. The combined effect on consumer banking might be more consequential than we now know.
December 27
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In his first American Banker interview since becoming CEO two years ago, Thomas Cangemi talks about the company's transformation into a full-service commercial bank now that it has completed its twice-delayed acquisition of Flagstar Bancorp.
December 23 -
A shareholder group that is pushing the nation's largest banks to conduct racial equity audits criticized JPMorgan Chase's effort, while giving a more favorable review of a Citigroup report. Banks small and large launched racial equity initiatives in 2020 in the wake of protests sparked by the murder of George Floyd.
December 20 -
The business being sold to Madison Dearborn Partners provides trustee and administrative services to asset managers and retirement plans.
December 19 -
Bible spent 14 years at BB&T and Truist before announcing his retirement earlier this year. He will replace Darren King, who will remain at M&T in a new role.
December 15 -
The overwhelming majority of top leaders at large U.S and Canadian banks expect a prolonged downturn in 2023, according to a recent survey. Almost none of them expect it to be particularly harsh, though.
December 12 -
William Demchak, the Pittsburgh bank's CEO, is leery of acquiring banks amid elevated regulatory scrutiny. KeyCorp Chief Executive Chris Gorman has similar concerns, citing economic uncertainty in addition to the long waits for approval.
December 8 -
Executives at the Minneapolis company said Wednesday that they expect earnings-per-share accretion to be higher than they previously anticipated. But their estimate for merger-related expenses also rose.
December 7
