Wells Fargo prevails in pay fight with former CEO Tim Sloan
Sloan, who left the bank in 2019, contended he was owed tens of millions of dollars in deferred compensation. But a San Francisco judge sided with Wells Fargo on Friday.
Supreme Court weighs new hurdle for 401(k) lawsuits
The justices consider what sorts of investment benchmarks plaintiffs have to point to when claiming their retirement savings were directed into imprudent and unnecessarily risky funds.
Colony Bank uses gen AI to shave days off SBA loan approvals
The Georgia bank has been using software from Lama to originate small-business loans, reducing the time needed per loan.
Citizens Private Bank outgrows First Republic’s shadow
Citizens founded its private-banking unit on the ashes of First Republic Bank, which failed in 2023. Three years later, Citizens Private Bank is going places First Republic never went.
Regions drops hint that it may be open to M&A in 2027
Regions CEO John Turner’s musing about a possible deal next year comes more than 15 years after the company completed its last bank acquisition.
America First’s Thayne Shaffer announces retirement
Thayne Shaffer announced plans to retire from America First Credit Unions, Cross River Bank has named Evan L. Russo its new president, Citi’s employees in Saudi Arabia will work from home as confrontation with Yemen’s Houthi militants continues to impact the region, and more in this week’s banking news roundup.
How Mike Lyons, Truist’s new CEO, is plotting a turnaround
In his first public remarks since becoming CEO, Lyons shared a vision to turn Truist, which has struggled with profitability, into “one of the country’s top-performing banks.”
Wise on AML: ‘It’s difficult to get everything right’
The payment firm says it has responded to U.S. regulatory concerns on money laundering protections, adding it is investing in compliance technology.
M&T says it’s monitoring impact of AI agents on deposits
Chief Financial Officer Daryl Bible said Friday that M&T has not yet seen a significant impact on deposit flows from customers using AI agents.
Home equity deal shows VantageScore viable for RMBS ratings
A fintech’s transaction is the first to go through S&P Global’s preliminary rating process with VantageScore 4.0 used to underwrite for 100% of the loans.