American Banker

11/15/2024

The top five banks have more than $71 billion in construction loans as of the end of Q3. Read the rankings for more about the performance of the top 20 banks. https://bit.ly/4fncexi

The top five banks have combined construction loans of more than $71 billion.

11/15/2024

TD Bank faces a long road to recovery as its U.S. banking division seeks to put a recent money laundering scandal behind it. Regulators will be watching very closely, writes John Turley-Ewart, in American Banker’s BankThink.

The bank's U.S. operations will be closely monitored during a yearslong probationary period, during which any sign of backsliding could trigger swift punitive action.

11/15/2024

What is RAG and what does it mean for gen AI? Mastercard's Greg Ulrich spoke with American Banker about the tech and its ramifications.

The card brand uses a new form of generative AI that improves data sourcing, making human involvement less necessary.

11/14/2024

The incoming Trump administration, and state-level government across the country, should treat the election as an opportunity to bring the supervisory treatment of fintech into line with the new reality of financial services, writes Phil Goldfeder, of the American Fintech Council, in American Banker’s BankThink.

The incoming Trump administration, and state-level government across the country, should use the election as an opportunity to bring the supervisory treatment of fintech into line with the new reality of financial services.

11/14/2024

President-elect Donald Trump has cemented his return to the White House, beating banker predictions of Vice President Kamala Harris emerging victorious and sending stock markets into a frenzy. As President Joe Biden's time in office draws to a close, the banking industry is on the precipice of substantial change.

Election survey data gathered prior to Nov. 5 by Arizent, the publisher of American Banker, found that a majority of the 191 bankers polled felt Harris would be the likely winner, despite a separate majority who felt a Trump administration would yield better results for the financial services space.

Dive into the full insights below.

President-elect Donald Trump beat banker predictions to surpass Vice President Kamala Harris on his way back to the White House, leaving many surprised but hopeful for a relaxed regulatory environment.

11/14/2024

Bank of Cadiz, Carson Community Bank, First Financial Bank, TransPecos Banks and Bank of Dade are among the community banks with the highest returns on average equity at the end of June. Read the rankings to see how the leaders fared. https://bit.ly/4hPaUow

The top five community banks averaged a return on average equity of 115.97% as of June 30.

11/13/2024

Comerica Bank is suing the Consumer Financial Protection Bureau, alleging that a bureau investigation into the Dallas-based bank's administration of the federal Direct Express prepaid card program is unlawful.

The Dallas-based bank is accusing the Consumer Financial Protection Bureau of "pursuing an aggressive and overreaching investigation" into its role in a Treasury Department prepaid card program.

11/13/2024

Is the cloud harming bank technology resilience? Here's what U.K. regulators are doing to protect payments and other systems. That and more in the American Banker global payments roundup.

The Financial Conduct Authority plans to regulate specific technology products that banks use to process payments and require testing. That and more in our global payments roundup.

11/13/2024

President-elect Trump's victory has sent shockwaves through the banking industry.

Major banks experienced significant stock price increases, as investors anticipate a relaxed regulatory environment and favorable tax policies.

Stay tuned for insights into the potential changes and the future of financial regulation under the Trump administration.

President-elect Donald Trump beat banker predictions to surpass Vice President Kamala Harris on his way back to the White House, leaving many surprised but hopeful for a relaxed regulatory environment.

11/13/2024

Wells Fargo, J.P. Morgan, Bank of America Bank OZK and U.S. Bank are among the banks with the most construction loans as of June 30. Check out the rankings to see how the leaders fared. https://bit.ly/3O7q36X

The top five banks have combined construction loans of more than $71 billion.

11/13/2024

Bank fees don’t arise from a naked profit-grab, but from an effort to offset current or expected losses. Eliminating one kind of fee just pushes banks to find an alternative method of recouping those losses, writes Joshua Ronen, of NYU’s Stern School of Business, in American Banker’s BankThink.

Bank fees don't arise from a naked profit-grab, but from an effort to offset current or expected losses. Eliminating one kind of fee just pushes banks to find an alternative method of recouping those losses.

11/13/2024

Join this webinar to discover how identity verification and fraud prevention allow financial institutions to stay ahead of emerging fraud threats with ease. https://bit.ly/3UCOvkf

11/12/2024

Simmons First National in Pine Bluff, Arkansas, said on Tuesday that CEO Robert Fehlman will retire at the end of this year and be replaced by a familiar face — former CEO George Makris Jr.

CEO Robert Fehlman will retire at the end of the year and be succeeded by his predecessor, George Makris Jr., the Arkansas-based company said Tuesday.

11/12/2024

In a surprising turn, President-elect Donald Trump returns to the White House, contradicting predictions of a Kamala Harris win.

This outcome has stirred the financial markets, with banks like JPMorgan Chase seeing immediate stock price surges. The focus now shifts to expected regulatory changes and their effects on the banking industry, including potential impacts on the Consumer Financial Protection Bureau and the Federal Reserve.

Discover more about these developments and their potential repercussions in the latest American Banker article.

President-elect Donald Trump beat banker predictions to surpass Vice President Kamala Harris on his way back to the White House, leaving many surprised but hopeful for a relaxed regulatory environment.

11/12/2024

As long as fraud-prevention efforts remain siloed and bank-specific, perpetrators are free to successfully repeat their strategies. Banks need to do a better job of sharing information and collaborating, writes Mykhailo Iakovenko, of Canonical Labs, in American Banker's BankThink.

As long as fraud-prevention efforts remain siloed and bank-specific, perpetrators remain free to employ the same strategies over and over. Banks need to do a better job of sharing information and collaborating.

11/12/2024

JUST RELEASED: American Banker's 12th annual Best Banks to Work For ranking includes 90 banks from around the country, from the 52-employee First Federal Savings & Loan Association in Pascagoula, Mississippi, to SouthState Bank in Winter Haven, Florida, where the workforce exceeds 5,200 people. Check out the full list here.

This year, 90 banks made American Banker's 12th annual Best Banks to Work For ranking. The leaders of these institutions share how they keep their employees happy.

11/12/2024

Client onboarding is a complex—not to mention—time consuming endeavor, however there are advancements in the industry that can make the process less painful going forward. https://bit.ly/4fBn1DO

11/11/2024

The Trump Administration is likely to cancel Biden's AI executive order, but this doesn't mean banks can relax. Regulators will likely continue to require them to comply with existing laws, including anti-bias and fair credit rules, in their use of AI. https://bit.ly/3CncGwR

The Biden administration's executive order on AI may be canceled and replaced with less restrictive policy, but banks will still need to proceed with caution, experts say.