Agencies push back on court’s narrow definition of CRA authority
Federal banking agencies asked the Fifth Circuit to lift an injunction on new community lending regulations, arguing that the court misinterpreted the scope of the Community Reinvestment Act’s reach.
Trump vs. Harris: What it means for banks and credit unions
Following Sunday’s news of President Biden’s decision not to seek reelection, see how the past two administrations handled banking reforms and what the future might hold.
Mastercard adds more partners in push for open banking
Nine international fintech companies are participating in the credit card network’s accelerator program.
Bankers should link arms, at least figuratively, with oil protestors
Arrested four times for blocking the entrance to Citigroup, a veteran climate protester wonders why more rank-and-file bankers don’t make common cause with activists trying to prevent the funding of fossil fuel development.
Truist’s net income sinks amid steep securities losses
Second-quarter profits at the North Carolina bank declined 33% from the same period a year ago following $6.7 billion of securities losses.
Arkansas bank seeks to escape the CRE doom narrative
Bank OZK is the latest commercial real estate-heavy bank to announce plans to diversify its business. CEO George Gleason emphasized that he’s confident in the bank’s loan portfolio, but said he thinks misperceptions are dragging down the stock price.
American Banker news quiz: July 22
In this edition of American Banker’s news quiz, test yourself on the latest items covering FedNow’s progress since launch, the merger between Capital One Financial and Discover Financial Services and more.
Biden drops out of race, endorses Harris
Vice President Kamala Harris, the most likely choice to replace President Joe Biden on top of the Democratic presidential ticket in November, has a long and complicated history with the banking industry.
Biden exit leaves markets asking what’s next for ‘Trump Trade’
Investors are set to start the week scrambling to decide if President Joe Biden’s decision to end his reelection campaign and endorse Vice President Kamala Harris increases or decreases Donald Trump’s chances of regaining power.
Bank regulators call for enhanced customer oversight in illicit finance update
The agencies are considering a rule change that would impact their policies on money laundering and terrorism finance. The proposal comes as the Financial Crimes Enforcement Network considers a similar update.