States score win as Flagstar denied escrow rehearing
The federal court rejected Flagstar’s attempts for both a panel rehearing and an en banc hearing to overturn California’s interest on mortgage escrow rule.
What’s on tap for this year’s Payments Forum?
Can banks win at agentic commerce? What’s next for real-time payments? And where are mobile wallets headed? The industry’s top experts will dive into these issues at American Banker’s Payments Forum from May 4-6 in San Francisco.
Bank of America settles with Epstein victims for $72.5 million
The nation’s second-largest bank agreed to the massive settlement to avoid a looming trial in May over accusations that it enabled suspicious, multimillion-dollar transactions — including a staggering $170 million payment from the former Apollo CEO Leon Black — to Epstein.
The linchpin of cybersecurity is at risk
A database that holds the details about every attack on databases is itself at risk of being compromised, which would leave banks and other businesses on their own when it comes to network defense.
Banks should avoid the self-inflicted wound of negative messaging
It may seem tempting to make use of advertising that plays up the negative aspects of your competition, or tries to set your organization apart from a less-than-appealing stereotype, but such messaging rarely lands well with consumers.
A cyberdefense ‘pillar’ for banks faces ‘existential crisis’
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
Iran war-fed inflation is taking rate cuts off the table
Two former members of the Federal Open Market Committee said in interviews that they expect the Federal Reserve to keep rates steady amid uncertainty over the ongoing war with Iran and the resulting upward pressure on inflation.
Property tax revenues jumped 5% in 2025
The latest rise in property tax collections at the end of last year continued a nine-quarter streak of increases, according to the National Association of Home Builders.
Goldman Sachs’ Epstein confidante gets $25M
Goldman Sachs Chief Legal Officer Kathryn Ruemmler received an 11% pay hike last year, bringing her total compensation to $25 million; U.S. Bank promoted Toby Clements to chief operations officer; Klarna is expanding its forward-flow and whole-loan sale deal with Elliot Investment Management to $2 billion; and more in this week’s banking news roundup.
Loan sale cuts bank’s thorny ties to West Va. lawmaker
Carter Bankshares in Martinsville, Va., sold more than $200 million of loans made to companies controlled by Sen. Jim Justice and his family, closing out a once close relationship that later descended into rancor and litigation.