Where Citi Ventures is placing its fintech bets in 2025
Arvind Purushotham, head of Citi Ventures, shares where he and his team see opportunities and how they vet tech startups.
Fifth Third sees stable quarter, pays charge in years-long litigation
The Midwest bank saw fees boost revenues, though most of its metrics told a story of stability in its fourth-quarter earnings report.
Key swings to quarterly loss on securities repositioning
The Cleveland parent company of KeyBank reported a net loss of $279 million for the fourth quarter, reflecting a one-time charge of $657 million from the sale of bonds.
Press Release: Statement from Acting Chairman Travis Hill
PRESS RELEASE | JANUARY 21, 2025 Statement from Acting Chairman Travis Hill WASHINGTON – On January 20, 2025, Travis Hill became Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Acting Chairman Hill issued the following statement: “It is my honor and privilege to serve as Acting Chairman of the FDIC. While the FDIC faces […]
GSE privatization could help pay for tax cuts, but not easily
Ending the 17-year-old federal conservatorship of Fannie Mae and Freddie Mac could help offset the cost of renewing President Trump’s 2017 tax legislation, which expires this year. But getting to that point is difficult, especially with a budget battle just months away.
Acting leaders take the reins of agencies as Trump sworn in
Federal Deposit Insurance Corp. Vice Chair Travis Hill has assumed the duties of FDIC chair, National Credit Union Administration Vice Chair Kyle Hauptman took over as NCUA chair and Securities and Exchange Commission member Mark Uyeda will serve as acting chair of the SEC.
The Federal Home Loan banks should be preserved as a liquidity source
Some reforms to the system might be necessary, but it would be unwise to eliminate a critical source of funding for banks across the country.
Klarna’s pre-IPO moves: Expand Stripe alliance, dump loans
The enhanced fintech partnership would build merchant scale, and selling U.K. and U.S. portfolios would free up cash.
Trump’s day one: fire Chopra, reset CFPB, elevate crypto
A one-page outline of priorities for Trump’s inauguration day obtained American Banker includes financial policy items, including firing Consumer Financial Protection Bureau Director Rohit Chopra, issuing a “reset” of that agency and designating crypto as a “national priority.”
Pulaski Savings Bank fails, Millennium Bank assumes deposits
The Chicago-based bank, which failed Friday in the first bank failure of 2025, caused a $28.5 million hit to the Deposit Insurance Fund. The FDIC was appointed receiver and Millennium Bank will assume all deposits.