The nation's largest banks today are the products of hundreds of mergers. In honor of American Banker's 175th anniversary, we've mapped the genealogy of the top four. Double-click on each merged bank to see its predecessor institutions; double-click again to collapse the boxes.
For the third time in five years, the Office of the Comptroller of the Currency issued an enforcement action against the beleaguered bank. It bars USAA from adding new products or loosening its membership criteria without evaluating the risks of getting bigger.
The Federal Reserve lowered its policy rate but signaled a more "cautious" approach to future cuts in light of higher inflation expectations. Policy uncertainty was one of several contributing factors to that change in forecast.
The Federal Reserve and OCC approved the company's plan to buy Independent Bank Group in Texas, putting the deal on track to close early next year as expected. In an atmosphere of M&A delays for banks, the deal is on a relatively smooth path.
Morgan Stanley and ABN Amro tapped fintechs to improve cross-border transactions. That and a U.K. card fee cap highlight this week's roundup of payments news.
As the Biden administration comes to a close, the agency called out "bait-and-switch tactics" by card issuers. It also announced a new tool allowing consumers to comparison shop for credit cards.
This year, American Banker reporters dove deep into topics such as gambling addiction, Citigroup's rebuild, the Small Business Administration, fraud and monetary policy for its feature articles. Check out the most consequential articles of the year.
