Top payment execs on how to manage tech buzz
Honorees from American Banker’s Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
First Interstate takes bigger-than-expected hit on loan
The action rids the Montana bank of a $62.8 million loan that’s long been on its watchlist. It comes as First Interstate’s new CEO looks to put his own stamp on the bank.
CFPB issues new fintech sandbox and no-action letter policy
The Consumer Financial Protection Bureau issued two separate policy statements on so-called “sandbox approvals,” and “no action” letters for fintechs — measures whose longevity is questionable with the incoming Trump administration.
Texas Capital Bancshares promotes Aimee Williams-Ramey
Texas Capital Bancshares promotes Aimee Williams-Ramey to chief human resources officer; M&T Bank hires Wells Fargo veteran Krista Phillips for newly created post of chief customer officer; Paul Connolly and Paul Speiss age out of their positions on Eastern Bankshares’ board; and more in this week’s banking news roundup.
FDIC’s Hill aims to cut regulation, halt climate efforts
In a speech outlining his priorities for the FDIC, Vice Chair Travis Hill stressed the need for a more flexible regulatory approach, addressing capital requirements, digital assets, climate policy, and bank oversight, while emphasizing transparency and timely action.
Pennsylvania community banks to merge in $214 million deal
Clearfield-based CNB Financial’s planned acquisition of ESSA Bancorp in Stroudsburg would create an $8 billion-asset company with 49 branches and nearly $5 billion of deposits in the Keystone State.
CFPB seeks input on protections for digital payments, crypto
The Consumer Financial Protection Bureau issued an interpretive rule and a separate request for information aimed at Big Tech companies, digital payments and crypto assets.
Data breaches are intensifying, and banks need a better game plan
An alarming percentage of cyberattacks in 2024 exposed eight or more pieces of sensitive customer information, a notable increase in severity. Banks need to have both proactive and reactive strategies in place to protect customers.
Strong job report bolsters odds of a Fed pause this month
The Labor Department estimates the economy added 256,000 jobs in December, indicating a resilient economy and labor market. For the Federal Reserve, which was already signaling a slowdown in rate cuts, the reading could justify holding rates steady.
Here’s the agenda for banks this earnings season
Regulatory shifts and loan growth are some of the hot-button topics banks will seek to address as they start sharing their fourth-quarter reports next week.