Exclusive: Warren targets narrowed bank risk oversight proposal
A group of Senate Democratic lawmakers warn proposed rule change would handcuff regulators from stopping risky bank behavior before it causes financial harm.
Affirm details new AI tool for merchants
CEO Max Levchin said the lender is testing technology that allows merchants to perform more advanced testing of promotional financing offers.
Why one regional bank is shrinking after years of rapid growth
Unlike some of its expansion-minded regional bank peers, Montana-based First Interstate is reconfiguring its business model to be smaller and more focused on relationship banking. The blueprint is the work of CEO Jim Reuter, who joined the bank 15 months ago.
BofA insider pleads guilty to $8M money laundering scheme
Renat Abramov, a former relationship manager in Brooklyn, bypassed KYC protocols to open accounts for shell companies involved in a $14.6 billion scheme.
CFPB implements new requirements for complaints on its portal
Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.
Anchorage gets $100 million from Tether to fuel crypto race
The support from the stablecoin provider follows a string of tech firm acquisitions as Anchorage Digital broadens its crypto services.
Bessent pressures crypto ‘nihilists’ on market structure bill
Treasury Secretary Scott Bessent appeared to urge the crypto industry to deal with bankers in the yield stablecoin issue during his regular testimony in the Senate Banking Committee Thursday.
Community bankers distrust the Fed, fear nonbank competitors
American Banker’s 2026 Predictions report finds that nonbank entities and check fraud are major threats to local banks in the coming months.
Mortgage rates nudge higher as markets stay jittery
Mortgage rates edged higher after the Fed held rates steady, with markets weighing political shifts, Treasury moves and mixed signals on where borrowing costs head next.
BofA reworks credit cards to fuel ambitious consumer profit plan
This month, Bank of America plans to unveil new incentives for cardholders with higher account balances. Reworking the rewards program is one lever the firm is pulling in its effort to lift the annual profit of the consumer unit to $20 billion by the end of the decade.