Long Island’s Dime plans to buy Staten Island bank
Dime Commercial Bancshares agrees to acquire ES Bancshares, Mary Elizabeth Taylor joins Block as head of Americas public policy and government relations, Bank of America names Jim Fitterling and Bill Thomas to its board of directors, and more.
Blaming rates, Flagstar says turnaround will take more time
The New York-based regional bank now expects to achieve its strategic objectives in 2028, a year later than previously expected, as higher interest rates weigh on profits.
Wells Fargo private wealth head taps firm’s full capabilities for clients
Since stepping into her position as private wealth director, Krista Goryl has been busy traveling the country to help advisors harness the firm’s offerings — from tax planning and trusts to specialty assets and family dynamics — to better serve wealthy clients.
First Citizens is open to buying more branches post-BMO deal
First Citizens executives touted the success of the company’s recent deal to acquire 138 BMO branches. They signaled openness to similar transactions in the future.
Banks dodge early damage from PHP2Shell flaws
Attackers fired millions of attempts at two critical PHP flaws. One credit union briefly went dark, but no U.S. bank has reported a compromise.
Licensing process is key to yield in OCC stablecoin rule
The Office of the Comptroller of the Currency dropped a presumption against yield arrangements in its final stablecoin rule, leaving the licensing process as the venue for issuers to find out if their yield arrangements pass muster.
Independents lag on AI. Here’s how they can catch up
Larger firms have the governance, vetting and training to deploy AI. Smaller firms are racing to catch up.
American Express touts AI, plans 5% downsizing
The financial institution did not link the reduction directly to new technology, saying it needed to “reduce layers.”
How bank compliance leaders are engaging with regulators
Risk and compliance executives shared how they’re responding to rapid changes in bank regulation at American Banker’s Most Powerful Women in Banking Conference.
Stablecoins are essential to the health of the federal balance sheet
Stablecoin issuers back their dollar-pegged assets with short-dated U.S. Treasuries. As the industry expands, they are picking up the slack left by traditional buyers who have soured on U.S. government debt.