Truist settles 15-year-old legal saga, causing earnings hit
The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.
Ally beats estimates but sees economic trouble ahead
The auto lender’s earnings mostly surpassed expectations in the fourth quarter, but in 2026 it expects higher unemployment and a weaker labor market.
Bank OZK says spike in chargeoffs is no cause for alarm
Though fourth-quarter net chargeoffs reached a level not seen since the financial crisis, the Little Rock, Arkansas-based regional bank is forecasting better results in 2026 and an even stronger recovery in 2027.
$12 billion crypto scam market Tudou shuts down
The collapse of the illicit escrow marketplace disrupts a major hub for “pig butchering” scams, though experts warn the ecosystem will likely fragment.
Citizens lays out tech overhaul, says profit goals are close
The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.
Fiserv bets on Japan’s digital initiative; Klarna deepens Walmart ties
The bank technology seller’s deal with Sumitomo Mitsui Card Company is an opportunity to cash in on a government initiative to reduce cash — and comes on the heels of an earnings miss. Plus, Klarna plans to offer more credit options through a partnership with Walmart-backed OnePay, Revolut embraces agentic AI protocols and more in […]
Bankers wary of nonbank payment rivals in 2026
Executives surveyed by American Banker said companies vying to wrestle market share from banks are a major threat to operations in the coming year.
Banks that fail to rebuild themselves as AI-native risk irrelevancy
The future of banking will see core bank systems rebuilt around artificial intelligence tools that inform decisions about everything from underwriting to compliance. Banks must begin the transition now.
Justices wary of Trump’s urgent need to remove Fed’s Cook
The Supreme Court Wednesday appeared skeptical of the Justice Department’s argument that removal of a Federal Reserve governor is unreviewable or that the president’s preference for Fed governors outweighs the harm to the Fed from curbing the central bank’s political independence.
Trump, again, calls on Congress to cap credit card rates
President Trump in Davos, Switzerland talked about his call for lower credit-card interest rates and more affordable housing in a lengthy speech that mostly focused on his plan to take over Greenland.