Comerica hires risk exec, Huntington names wealth management chief
Former Silicon Valley Bank exec Floyd Kessler joins Comerica as executive vice president and chief business control officer; Melissa Holding succeeds Michael Robinson as head of wealth management at Huntington; Goldman Sachs’ Alexander Mayer is set to take on a senior position at JPMorgan Chase; and more in this week’s banking news roundup.
Regulators’ rhetoric about bank failures doesn’t match their actions
On both sides of the Atlantic, regulators have failed to live up to their promises about how they would approach bank failures. Until they do, the industry operates in legal limbo.
American Banker news quiz: May 3
In this week’s edition of the American Banker news quiz, test your knowledge on Colorado banking legislation, the failure of Republic First Bancorp, acquisitions and more.
Secrets of a ‘turnaround guy’
Banks maintain lists of consulting firms that they trust to help troubled commercial borrowers to fix their businesses. These specialists say they’re getting more calls, especially in areas such as multifamily and CRE, from business owners who need help.
These investors are raising $1 billion to be ready when a bank fails
Nearly 15 years ago, Les Lieberman and other organizers of Porticoes Capital used a shelf charter to buy a spate of failed banks. Now they’re hoping to replay the strategy.
JPMorgan details its invisible — and growing — role with Amazon
The embedded banking services Amazon offers to third-party sellers come from the hidden hand of JPMorgan Chase’s corporate payments arm, which markets its services to e-commerce platforms on a white-label basis.
Press Release: FDIC Announces Personnel Changes
PRESS RELEASE | MAY 2, 2024 FDIC Announces Personnel Changes WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) has appointed John F. Vogel Regional Director, New York Region effective January 14, 2024, and Jessica A. Kaemingk Regional Director, Kansas City Region effective May 5, 2024. In these positions, they direct both Risk Management and Consumer […]
American Express unveils its approach to generative AI
The financial services company has found that engineers report higher satisfaction and save time when using a copilot to assist with coding.
TD fined $6.7 million under Canada money-laundering rules
Toronto-Dominion failed to submit suspicious-transaction reports in cases where it was reasonable to suspect the transfers were tied to money laundering or terrorist financing, along with other violations, according to the Financial Transactions and Reports Analysis Centre of Canada.
‘Well-capitalized’ banks keep failing; it’s time for a reality check
What’s the point of regulatory capital rules that ignore demonstrated problems, like unrealized losses? We need to rethink what banks’ disclose to investors and regulators.