Retail & Commercial

Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.

Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.

Unlike some of its expansion-minded regional bank peers, Montana-based First Interstate is reconfiguring its business model to be smaller and more focused on relationship banking. The blueprint is the work of CEO Jim Reuter, who joined the bank 15 months ago.

Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.

The mortgage technology unit at Intercontinental Exchange posted a profit for the third straight quarter, even as lower minimums among renewals capped growth.

American Banker's 2026 Predictions report finds that nonbank entities and check fraud are major threats to local banks in the coming months.

Mortgage rates edged higher after the Fed held rates steady, with markets weighing political shifts, Treasury moves and mixed signals on where borrowing costs head next.

This month, Bank of America plans to unveil new incentives for cardholders with higher account balances. Reworking the rewards program is one lever the firm is pulling in its effort to lift the annual profit of the consumer unit to $20 billion by the end of the decade.

The Spanish banking giant is accelerating its U.S. growth plans with the pending acquisition of Webster Financial in Connecticut. The combined entity will be the second-largest foreign-owned bank operating in the country.