Flagstar’s shareholders approve plan to dissolve holding company
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week’s banking news roundup.
Ally beats expectations despite auto industry tumult
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street’s expectations.
Cornerstone Capital to acquire another Texas bank
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
‘Cockroaches’ or ‘isolated events’? Banks face credit nerves
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
US seizes $15 billion in huge bust of cybercriminal group
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
Blowback grows to deposit insurance reform, despite changes
Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.
JPMorgan Payments rides merchant services, B2B to record
The payments division of the country’s largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
Amex touts card refresh; says government shutdown not an issue
SEO Steve Squeri told analysts its Platinum card upgrade has gotten off to a strong start, and added he’s not noticing signs of consumer weakness due to recent political battles.
Reforming the eSLR capital rule is good policy that’s urgently needed
The enhanced Supplementary Leverage Ratio has for too long wrongly penalized low-risk market-making activity by U.S. banks. Targeted reforms come at a time when liquidity is about to be severely tested.
Fifth Third’s earnings fall in line amid credit hits and M&A
The Cincinnati, Ohio-based bank delivered third quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.