How Five Star Bank aims to fill gap left by San Francisco failures
The Sacramento-area institution moved quickly and decisively to fill the gap created by the loss of First Republic and Silicon Valley Bank. A first-quarter rise in Bay Area deposits is a sign of bigger gains to come, San Francisco Bay Area President DJ Kurtze says.
Chevron reversal could factor into Custodia appeal
The lead lawyer on the case that overturned the decades old doctrine penned an amicus brief arguing that the lower court ruling raises constitutional questions about the Federal Reserve.
Is generative AI the answer to core modernization?
Consultants at McKinsey and Accenture are offering to use gen AI to understand legacy software and write new code. Experts say this idea has merit, up to a point.
Treasury may expand its oversight of land deals near military sites
The agency has proposed a rule that would give it and the Committee on Foreign Investment in the United States broader authority over real estate transactions near military installations in 30 states.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | JULY 8, 2024 FDIC ISSUES LIST OF BANKS EXAMINED FOR CRA COMPLIANCE WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in April 2024. […]
Bidenflation? Trumpflation? No. The real problem is Covidflation.
The most important issue on voters’ minds is inflation, and the inflation blame game has heated up with the upcoming presidential election. Putting politics aside, an objective economist would blame neither candidate, since the underlying cause of our inflation, like so many other problems today, was COVID-19.
How Capital One is using Stripe, Adyen data to fight fraud
The bank is working with Adyen and Stripe to improve the transaction information that feeds AI-powered payments crime fighting. Can it convince other firms to join?
American Banker news quiz: July 8
In this edition of American Banker’s news quiz, see if you know the latest updates on JPMorgan Chase’s fraud prevention methods, Supreme Court rulings on swipe fees, the woes of former Silvergate Bank executives and more.
Banc of California is selling $2 billion of residential loans
The bank acquired these business purpose non-qualified mortgage loans originated by Civic Financial Services in the PacWest Bancorp deal.
Executive moves: Bank of America, JPMorgan Chase, Cullen/Frost
Cullen/Frost’s CFO is retiring, a top JPMorgan research analyst is leaving, and both UBS and JPMorgan hire tech dealmakers in this week’s banking news roundup.