Federal Reserve holds benchmark interest rate steady
The nation’s central bank held interest rates steady in its first decision of the year.
Trump eyes Biden’s green bank, EV tax credits amid freeze
The Office of Management and Budget issued a sweeping directive Monday to overhaul the federal government to align with the Trump administration’s priorities.
Plumas Bancorp strikes deal to acquire peer in California
The Reno, Nevada-based buyer said it would pay $64.6 million in cash and stock for Cornerstone Community Bancorp, and it expects to close the transaction in the second half of the year.
Global banks make little headway in addressing climate change
Banks have faced considerable criticism for continuing to profit handsomely from their partnership with Big Oil in the face of a planetary climate crisis.
CFPB, Treasury union urge staffers to ignore Trump buyouts
The National Treasury Employees Union and the chief of staff at the Consumer Financial Protection Bureau told employees not to respond to the mass email asking federal workers to resign.
Great leaders make sure there’s no such thing as a thankless job
Effective bank leaders recognize that the success of any team relies not just on those in the spotlight but also on the numerous unsung heroes working behind the scenes.
WSFS beats analysts’ expectations on strong wealth performance
Executives at the Wilmington Delaware-based bank are optimistic about 2025. Its results in the final three months of last year were hurt by an “isolated” incident in its 26-year-old ATM servicing business.
Wells Fargo exits consent order. Is more regulatory progress coming?
Analysts say the termination of a 2022 consent order with the CFPB is a sign that the bank’s days under an asset cap may be numbered. But the consumer bureau, still led by Director Rohit Chopra, says Wells is still being scrutinized as a repeat offender.
Synchrony takes hit from investors after charge-offs rise
Synchrony Financial’s fourth-quarter earnings results missed analysts’ forecasts and investors pummeled the stock due to a jump in charge-offs.
USAA sues Regions Bank in latest mobile deposit lawsuit
USAA claims to have developed the mobile capture deposit technology and has already successfully sued Discover and Truist, among others.