Northwest Bancshares lands $270 million acquisition in Pennsylvania
The Columbus, Ohio-based bank said its all-stock bid for Penns Woods Bancorp would expand its footprint and give it $1.7 billion of deposits and $1.9 billion of loans.
Flagstar to pay $3.5M for misleading about 2021 cyberattack
According to an order by the SEC, the bank negligently under-reported what it knew about a data breach and ransomware attack it suffered that year.
FDIC Board of Directors Meeting
BOARD MEETING | DECEMBER 17, 2024 FDIC Board of Directors Meeting Today the Federal Deposit Insurance Corporation’s Board of Directors met in open and closed sessions. Materials and information relative to the Board actions are available here. Open Session: Proposed 2025 FDIC Operating Budget Discussion Draft relating to FDIC Policy regarding the Annunzio-Wylie Anti-Money Laundering Act […]
Blue Ridge returns to community bank roots after failed fintech foray
Months of painful restructuring may be paying off as the Charlottesville, Virginia-based company reported a modest third-quarter profit after more than a year of losses.
Remittances cost too much and take far too long. We can do better.
Cross-border person-to-person payments are vital to the survival of millions of vulnerable people. Right now, fees eat away at their money, and slow processing times create unnecessary stress. The financial services industry and partners in government can fix this problem.
The banks that implement AI well, from titans to mavericks
Some banks are “punching above their weight,” according to Dan Latimore, chief research officer at The Financial Revolutionist. Here’s how they do it.
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.