How First Interstate is responding to activist pressure
The Billings, Montana-based bank finds itself in the crosshairs of a high-profile activist investor. On Thursday, it stuck to its organic growth plan and said it isn’t interested in using its excess capital to restructure its securities book.
John Bell III, former VA mortgage program executive, dies
Until August, Bell was the executive director for loan guaranty service at the Department of Veterans Affairs, where he was credited with growing the program.
Mortgage rates tick down following Fed’s cut
The 30-year rate dropped just 0.2 percentage points, as Federal Reserve Chair Jerome Powell’s recent comments caused Treasury yields to rise.
Top SBA lenders left in the lurch by government shutdown
Top SBA lenders are warning about the impact of a prolonged shutdown. NewtekOne skipped providing fourth-quarter guidance after its CEO said the situation was too cloudy to forecast.
Starling rolls out new AI scam advisor tool
The U.K. bank’s “Scam Intelligence” tool uses Google’s Gemini to analyze images and texts for red flags, aiming to reduce losses from authorized push payment fraud.
Insurers likely to exclude gen AI, startups wait in wings
A commonly used standard for property and casualty insurance will offer a carve-out for generative AI liability starting in January. Startups like Testudo, Vouch and Armilla AI stand by to scoop up that business.
Kennedy threatens ‘no’ vote for Hill over workplace scandal
Sen. John Kennedy, R-La., asked acting Federal Deposit Insurance Corp. Chair Travis Hill, who has been tapped to lead the agency permanently by President Trump, for a report within 30 days about progress made in the agency’s sexual harassment scandal, saying his vote is contingent on that report.
Mastercard makes agentic AI a star of its services strategy
During Thursday’s earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.
Behind the cover shoot for The Most Powerful Women in Banking 2025
Honorees gathered at Tiffany’s Landmark building in New York City, where American Banker interviewed them about the industry’s trajectory and leadership lessons they’ve learned in their careers.
Consumers urge CFPB to protect data in open banking plan
In comment letters on the Consumer Financial Protection Bureau’s new rulemaking on personal financial data rights, consumers begged the agency to protect their data from misuse.