BofA insider pleads guilty to $8M money laundering scheme
Renat Abramov, a former relationship manager in Brooklyn, bypassed KYC protocols to open accounts for shell companies involved in a $14.6 billion scheme.
Why one regional bank is shrinking after years of rapid growth
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.
Community bankers distrust the Fed, fear nonbank competitors
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 nudge higher as markets stay jittery
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.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | FEBRUARY 5, 2026 FDIC Issues List of Banks Examined for CRA Compliance WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in November 2025. […]
BofA reworks credit cards to fuel ambitious consumer profit plan
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.
Stablecoins are becoming an instrument of US fiscal policy
Noelle Acheson argues that growing demand for dollar-denominated stablecoins is going to give the Treasury Department increasing influence over the direction of the U.S. economy, perhaps at the cost of the Federal Reserve.
‘This is an arms race’: Banks cope with AI-faked documents
Fraudsters and modestly dishonest employees can use generative AI to quickly create convincing fake utility bills, pay stubs, passports and other documents banks rely on.
Fed’s Cook calls recent inflation numbers ‘disappointing’
Federal Reserve Gov. Lisa Cook said in a speech Wednesday night that the central bank’s credibility depends on its ability to bring inflation back to its 2% target.
SBA re-tightens its eligibility rules, hitting noncitizens
The latest directive, which takes effect in March, allows only U.S. citizens and nationals to seek government-guaranteed financing. It’s drawing criticism from Democrats in Congress, small-business advocates and some lenders.