Don’t fall for the false promises of federal preemption
The siren song of greater regulatory uniformity will lead the industry to disaster, as the kind of innovation that benefits consumers is stifled.
Is Target’s ban the beginning of the end for checks?
The big box retailer’s move comes amid a broader decline for the traditional payment option.
NYCB reports quarterly loss, plans to sell mortgage servicing unit
New York Community Bancorp reported a net loss of $323 million for the second quarter as it further boosted its provision for credit losses and recorded a steep increase in net charge-offs. The parent company of Flagstar Bank also plans to sell its residential mortgage servicing business to Mr. Cooper.
Puerto Rico’s Popular trims expectations for loan growth on mainland
The $72.8 billion-asset bank lowered its guidance for net interest income, explaining that while business prospects on the island are relatively rosy, its stateside opportunities for loan growth look weaker.
New York Community leans on CEO’s connections as it revamps leadership
The embattled Long Island-based bank announced the hiring of nine new senior executives. Most of them have ties to CEO Joseph Otting, who previously held the top job at the OCC and OneWest Bank.
Sunshine Meeting Notice: FDIC Board of Directors Meeting
SUNSHINE ACT NOTICE | JULY 24, 2024 The FDIC Board of Directors will meet in open session: Time and Date: 10:00 a.m. on Tuesday, July 30, 2024. Place: This Board meeting will be open to public observation only by webcast. FDIC Board Members and staff will participate from FDIC Headquarters, 550 17th Street, NW, Washington, […]
FDIC’s Hill pushes Basel reproposal, expanded brokered deposits
Federal Deposit Insurance Corp. vice chair Travis Hill has called for a full re-proposal of the Basel III endgame capital standards, emphasizing the need for joint advancement by all three major federal banking agencies and an additional comment period for industry feedback.
How JPMorgan Chase is prepping for Q Day
The bank is developing algorithmic models that will be ready to take advantage of quantum computers when they become powerful and reliable enough to use. It’s also taking steps to defend itself against the day cybercriminals can harness quantum computing to break the encryption protocols everyone uses.
ACNB in Gettysburg to acquire Pennsylvania peer Traditions Bancorp
The $73.5 million all-stock deal, slated to close early in 2025, would create a bank with more than $3 billion of assets.
Santander Lifts Revenue Goal as Botin Sees Efficiency Gains
The Spanish bank recorded its best efficiency ratio in 15 years, Chairwoman Ana Botin said in its quarterly earnings statement.