Office loan woes bite a pair of banks
An uptick in problem loans within the heavily scrutinized office sector pushed down share prices at Rhode Island-based Washington Trust and Bank OZK in Little Rock, Arkansas, even though both banks reported solid profits.
Citizens, Frost blame vendor after data breach claim
Both banks deny their networks were breached. Experts say the data likely points to a single vendor that was compromised.
NY AG Letitia James sues prediction market providers
James filed a pair of lawsuits against Coinbase and Gemini arguing that they violated New York’s sports gambling laws.
Credit risk transfers earn bipartisan praise
Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.
SoFi enters HELOC market amid home equity surge
The addition of HELOCs at SoFi comes alongside the launch of a new advisory group, as the company heightens its focus on real estate lending.
Banks and credit unions say they’re growing more fluent in AI
American Banker’s 2026 AI Talent Shift survey found that half of all respondents said they are at least moderately literate in AI.
Bessent says CDFI Fund ‘had lost its way’
Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president’s 2027 budget, telling the Senate Appropriations Committee that the program had pursued a “partisan wish list.”
KeyCorp bulks up investment banking with purchase of UK firm
The Cleveland-based regional bank plans to acquire Clearwater UK, a middle-market investment banking advisory firm. The transaction marks Key’s first entry into the Western European market.
Visa deepens outreach to content creators with TikTok collaboration
The card network and the video platform are issuing a credit card in the U.K. to address irregular compensation patterns for creators.
Tether, Rain, MoneyGram expand stablecoin game
Tether launches a wallet, Rain issues a crypto card and MoneyGram extends stablecoin services in El Salvador. That and more in American Banker’s global payments and fintech roundup.