There’s no right way to set minimum bank capital
A recent white paper from former Federal Reserve Gov. Daniel Tarullo suggests that the stress testing regime should be decoupled from bank capital requirements. But if stress testing isn’t an effective means of assigning minimum regulatory capital levels, what is?
German American Bancorp sells insurance unit, amplifies deal trend
The Indiana bank said it struck a $40 million cash deal to sell its insurance brokerage to the Hilb Group. It joined a growing number of lenders announcing such transactions.
Data breach at debt collector affects more than 3.2 million people
Financial Business and Consumer Solutions disclosed a February breach in April and recently disclosed an expanded victim count. The company faces a class action lawsuit.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | JUNE 4, 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 March 2024. […]
Senior bank leaders must articulate a clear strategy for adopting AI
Integrating artificial intelligence into banking operations needs to be done with a clear business purpose in mind, and the articulation of that purpose needs to come straight from the top of the organization.
Press Release: FDIC Survey Highlights Potential Bankable Moments at IRS’s Volunteer Income Tax Assistance Providers
PRESS RELEASE | JUNE 4, 2024 FDIC Survey Highlights Potential Bankable Moments at IRS’s Volunteer Income Tax Assistance Providers WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) released a report today providing insight into the role the Internal Revenue Service’s (IRS) Volunteer Income Tax Assistance (VITA) providers have in helping unbanked Americans access banking products and services. […]
Plaid deploys AI to spot unconventional consumer cash-flow sources
The San Francisco fintech’s newest product seeks to improve lenders’ underwriting decisions by identifying gig-work wages, buy now/pay later loans and other income streams gleaned from bank-account data.
Plummeting bonuses led to decline in bank CEO pay last year
Total direct compensation for the CEOs of large and midsize banks declined by 6.6% in 2023, and annual bonus payouts tumbled by 30%. The decreases came as banks grappled with the fallout from last spring’s banking crisis.
California digital bank reaches $1 billion deposit mark in six months
Though Jenius Bank hasn’t reached break-even, it’s evidencing solid progress gathering deposits and making loans as it gets ready to celebrate its first birthday.
Supreme Court, siding with the NRA, wades into the de-banking debate
The National Rifle Association bagged a key victory in a case against a former top New York state official. The high court’s ruling could make it harder for regulators to discourage financial institutions from doing business with specific industries.