JPMorgan shares fall after it reins in expectations for next year
The largest U.S. bank will likely record lower net interest income and higher expenses in 2025 than Wall Street had forecast, a top executive said Tuesday.
Bowman critiques stress tests for volatility, duplicity and opacity
Federal Reserve Governor Michelle Bowman called for reforms to reduce volatility, increase transparency and address overlaps in stress tests and capital requirements for banks.
Rep. Barr floats bill to limit regulators’ freedom to join global groups
A bill from Rep. Andy Barr, chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, would make it harder for regulators to enter into international regulatory agreements like Basel III.
Sunshine Meeting Notice: FDIC Board of Directors Meeting
SUNSHINE ACT NOTICE | SEPTEMBER 10, 2024 The FDIC Board of Directors will meet in open session: Time and Date: 10:00 a.m. on Tuesday, September 17, 2024. Place: This Board meeting will be open to public observation only by webcast. FDIC Board Members and staff will participate from FDIC Headquarters, 550 17th Street, NW, Washington, […]
KeyBank launching AI copilot to help dentists drowning in paperwork
The bank has partnered with a fintech, Zentist, to give dentists a system that automates insurance and billing processes.
Basel III isn’t about SVB anymore, and it never should have been
In his reset of the Basel III endgame proposal outlined Tuesday, Federal Reserve Vice Chair of Supervision Michael Barr deemphasized the connection between last year’s bank failures and raising capital. That makes a world of sense.
Camden National to acquire New Hampshire bank in all-stock deal
The Maine-based bank’s bid for Northway Financial was valued at $86.6 million. It is expected to be finalized in the first quarter of 2025.
Chopra: Technology may cut both ways as refinancing returns
Consumer Financial Protection Bureau Director Rohit Chopra will be looking at whether automation accommodates or undermines potential savings from refinancing.
How payment firms are responding to CFPB pressure
As the Consumer Financial Protection Bureau increases scrutiny of earned wage access, cash back fees and airline rewards, industry lobbyists are pushing back, while some groups cheer the move.
Ally’s stock drops 15% as its credit challenges grow
A top executive at the auto lender said that more borrowers struggled to repay their loans over the summer amid inflation and a tougher job market. Late payments on auto loans rose by more than Ally expected in July and August.