FDIC adds banker to regulatory appeals board in final rule
The Federal Deposit Insurance Corp. Thursday finalized a framework for banks to appeal supervisory determinations, replacing the agency’s existing appeal committee with an independent three-member panel, one member of which must have industry experience.
Crypto cards are booming, but what they mean for the future is unclear
Crypto-linked cards are seeing strong volume growth despite offering little more than a crypto add-on to traditional payments systems — but familiarity is often a backdoor to more profound changes.
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How Bank of America’s Erica does the work of 11,000 people
The bank’s AI-based virtual assistant, which began development ten years ago, is now used by 42 million customers and more than 200,000 employees. It does everything from sending wire transfers to unlocking corporate phones.
Truist settles 15-year-old legal saga, causing earnings hit
The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.
Ally beats estimates but sees economic trouble ahead
The auto lender’s earnings mostly surpassed expectations in the fourth quarter, but in 2026 it expects higher unemployment and a weaker labor market.
Bank OZK says spike in chargeoffs is no cause for alarm
Though fourth-quarter net chargeoffs reached a level not seen since the financial crisis, the Little Rock, Arkansas-based regional bank is forecasting better results in 2026 and an even stronger recovery in 2027.
$12 billion crypto scam market Tudou shuts down
The collapse of the illicit escrow marketplace disrupts a major hub for “pig butchering” scams, though experts warn the ecosystem will likely fragment.
Citizens lays out tech overhaul, says profit goals are close
The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.
Fiserv bets on Japan’s digital initiative; Klarna deepens Walmart ties
The bank technology seller’s deal with Sumitomo Mitsui Card Company is an opportunity to cash in on a government initiative to reduce cash — and comes on the heels of an earnings miss. Plus, Klarna plans to offer more credit options through a partnership with Walmart-backed OnePay, Revolut embraces agentic AI protocols and more in […]