Unrelenting interest income pressure weighs down PNC’s earnings
The Pittsburgh-based regional bank also emphasized expense control for the first quarter and throughout 2024 as it manages credit quality vulnerabilities and higher charge-offs, particularly among office loans.
NYCB’s new CEO fills out his team amid strategy revamp
New York Community Bancorp CEO Joseph Otting has added three former colleagues to the embattled company’s leadership team. The hires come six weeks after the Long Island bank got a $1 billion capital infusion, which led to Otting’s appointment as CEO.
Warren, Blumenthal press OCC on NYCB-Flagstar deal approval
Sens. Elizabeth Warren, D-Mass., and Richard Blumenthal, D-Conn., detailed how New York Community Bank grew to exceed the $100 billion threshold that triggers tougher bank requirements and set the bank on a path to market turmoil via a series of deals that were approved, in part, by the Office of the Comptroller of the Currency.
Inside FIS’ use of AI to weed out false-positive card fraud alerts
When its broad-spectrum payment card fraud-detection filters generated too many false alarms, FIS implemented AI to help banks prioritize which types of fraud to investigate first, in part by muting lower-risk notifications.
Bank of America tops estimates as traders notch best quarter in decade
Bank of America and other banks’ balance sheets have remained resilient despite higher interest rates, though uncertainties remain, including inflation and attacks in the Middle East.
Betsy Cohen and Sallie Krawcheck on innovation, fintech and investing
The co-founder and CEO of Cohen Circle (and former founder of The Bancorp Bank) and founder of Ellevest (and former CEO of Smith Barney, Citi wealth management and Merrill Lynch wealth management), shared their morning routines, their leadership styles and their takes on the future of fintech at an Arizent-hosted event during Fintech Week.
RBC is expanding its U.S. business with a cash-management offering
The Toronto-based bank has spent the last two years gathering client input and building a platform for customers to manage the flow of payments and receivables, pay taxes in the most efficient jurisdictions, balance currency risks and more.
Press Release: Principals of U.S., European Banking Union, and U.K. Financial Authorities Meet for Regular Coordination Exercise on Cross-Border Resolution Planning
PRESS RELEASE | APRIL 16, 2024 PRINCIPALS OF U.S., EUROPEAN BANKING UNION, AND U.K. FINANCIAL AUTHORITIES MEET FOR REGULAR COORDINATION EXERCISE ON CROSS-BORDER RESOLUTION PLANNING WASHINGTON – The heads of resolution, regulatory and supervisory authorities, central banks, and finance ministries of the United States, the United Kingdom, and the European Banking Union are among leaders […]
Beware the banking industry’s diversionary tactics on Basel
The Basel III proposals are a major step in completing the implementation of global agreements to ensure large banking organizations are appropriately capitalized to better withstand all manner of economic disruption.
Barclays, Citi are among banks testing tokenized deposits in U.K.
Industry body UK Finance is expanding its pilot of an experimental shared ledger to track banking payments, hoping to join some of the dots in the nascent world of digital assets.