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.
USAA’s new CEO tasked with fixing regulatory issues
The San Antonio-based insurer and bank has named Juan Andrade as its next CEO. The company’s bank has suffered a series of regulatory penalties.
Los Angeles banks react, give back as wildfires continue
As the flames continued to spread, banks closed more branches while others donated to relief efforts.
Fed’s Bowman preaches pragmatism for regulation, supervision
Seen by many as a logical pick for the Federal Reserve’s next vice chair for supervision, Gov. Michelle Bowman wants the institution to focus on safety and soundness issues, tailoring and transparency.
New hires accelerate Eagle Bancorp’s turn to C&I
The Bethesda, Maryland-based company called its success in luring a team from Capital One as its most “newsworthy” move to date executing a strategy aimed at diversifying its lending operation.
Debt collectors sue the CFPB for ‘overreach’ on medical debt
Debt collection trade group ACA International and Specialized Collections Systems, a Houston-based debt collector, filed a lawsuit against the Consumer Financial Protection Bureau alleging its medical debt rule is outside its authority.
How AI is changing banking jobs: Rise of the ‘AI whisperer’
Rumors that generative AI would kill banking jobs so far seem greatly exaggerated, but the technology is spawning new job titles.
House banking committee leadership takes shape
Rep. Bill Huizenga, R-Mich., will take the No. 2 spot on the House Financial Services Committee, while Reps. Bryan Steil of Wisconsin, Dan Meuser of Pennsylvania and Mike Flood of Nebraska are elevated to subcommittee leadership.