D.C. area bank cuts ties with its branches for a digital future
Forbright Bank in Chevy Chase, Maryland, which has gathered more than $4 billion in online deposits over the past two years, plans to sell its branch network and focus entirely on digital banking.
Dallas man charged with defrauding 16 banks of $40 million
A federal grand jury says Garrett Douglas Johnson borrowed against law-firm trust accounts that never existed, using new loans to pay off the old ones.
CDFIs file lawsuit against Treasury to release funding
A group of Community Development Financial Institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.
As Medicare Advantage satisfaction falls, advisors should review client coverage
A survey found Medicare Advantage customer satisfaction dropped for the second year in a row. Financial advisors can guide clients as they weigh coverage choices.
What banks can learn from Oriental Bank’s top performance
OFG Bancorp, the parent company of Oriental Bank, has steadily climbed American Banker’s rankings of the nation’s top-performing banks. Here’s how the Puerto Rican bank did it.
Bank chief compliance officers need to adjust their risk tolerance
In a shifting regulatory environment, CCOs must move from a posture of constraint toward one of enablement, becoming entrepreneurial strategic leaders.
Beware of fiduciary missteps when making 401(k) rollover recommendations
A new guide from the CFP Board is meant to help advisors through offering 401(k) rollover recommendations, which can be a tricky area for compliance.
For banks, the silver lining in the bond rout is in the margins
Bond yields are rising as the market’s under duress and the national debt’s crossed the $40 trillion mark; but rising yields aren’t all bad for banks.
Are stablecoins coming for your deposits?
With the CLARITY Act stalled in Congress and GENIUS implementation ongoing, experts are questioning how much of a threat the products pose to bank deposits and services.
Deutsche Bank freed from consent order in 2010s FX scandal
A Federal Reserve enforcement action against Germany’s largest bank was the last of the consent orders remaining from the Obama-era violations. Between 2007 and 2013, foreign exchange traders from six banks conspired to manipulate interest rates.