Is cash becoming extinct?
Myriad payment innovations are cutting into old-school cash payments, changing how funds are accessed, spent and received for purposes ranging from in-store payments to accessing disaster recovery funds. Will these changes bring new communities into banking, or will it leave them behind?
CFPB’s $5 overdraft rule presents populist challenge to GOP
There are many ways for the incoming administration to overturn the Consumer Financial Protection Bureau’s final rule slashing overdraft late fees to $5. But the politics of nullifying the rule is a challenge to an administration that promised lower prices.
Synovus looks to add bankers amid stiff competition in the Southeast
The Georgia-based bank plans to hire 85 relationship managers over the next three years to support growth in commercial and middle-market lending and private wealth. “The biggest risk is not being able to hire the bankers,” said CEO Kevin Blair.
Flagstar promotes Lee Smith to CFO
The bank ends the year with a substantially different profile from early 2024, which brought new leadership, a significant reduction to its mortgage operations and a corporate rebrand.
The biggest data breaches of 2024 in financial services
Data breaches in 2024 exposed billions of records, impacting financial firms, banks and consumers alike.
Credit unions bought a record-breaking 20 banks in 2024
The unprecedented number of deals came in a year when banks struggled to find merger partners in their markets.
Joint Press Release: Federal Bank Regulatory Agencies Release 2023 Small Business, Small Farm, and Community Development Lending Data
JOINT PRESS RELEASE | DECEMBER 16, 2024 Federal Deposit Insurance CorporationFederal Reserve BoardOffice of the Comptroller of the Currency Federal Bank Regulatory Agencies Release 2023 Small Business, Small Farm, and Community Development Lending Data The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, […]
‘Something great with crypto:’ Trump affirms bitcoin reserve
The president-elect confirmed that he will pursue a strategic reserve of the flagship cryptocurrency as part of a broader push for the U.S. to champion the digital asset industry.
Boston banks Berkshire, Brookline to merge in $1.1 billion deal
The combination would create a Northeast regional bank with nearly $24 billion of assets. It would rank as the eighth-largest bank in the Boston metropolitan area by deposit market share.
The banking industry should take the lead on modernizing regulation
If the Trump administration is really planning to trim back regulations on banking and financial services firms, the industry needs to get out in front of the process by identifying necessary reforms.