Truist announces departures, First Horizon reveals succession plans
Truist Financial’s top executive leadership team announces departures; First Horizon’s chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
Comerica says its AI bot performs work of six IT helpdesk agents
The Dallas-based regional bank tapped a client for its copilot capabilities, where employees can message a bot instead of a human to get tech assistance.
Wells Fargo bond saleswoman claims pay bias in ‘boys club’ team
Big banks have long faced allegations of bias against women, with several high-profile cases coming in recent years.
How a Tennessee credit union uses generative AI to foster fair lending
Leaders of ORNL Federal Credit Union are piloting Zest AI’s new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
American Express’ consumer spending thrives, but small business lags
Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
Is the Fed board eroding regional Fed banks’ independence?
For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue at the expense of regional bank independence.
A love for data jump started the career of Citizens’ chief experience officer: The Climb
Beth Johnson, a self-described math geek, is driving the bank’s ESG strategy and training its employees to keep pace with industry trends.
Allow private capital to provide liquidity to Ginnie Mae servicers
Banks and other private lenders could help ease the liquidity crisis facing some companies that service Ginnie Mae mortgages, but are currently prevented from doing so by the agency’s rules. A simple fix would benefit everyone involved.
Key is downbeat on U.S. economy, upbeat on its own outlook
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
Texas Capital reports 53% jump in criticized loans, plans for more
The first-quarter increase stemmed from higher interest rates, partial charge-offs and certain problem loans, many involving commercial real estate, executives at the Dallas bank say. Further CRE deterioration is anticipated.