Wintrust strikes $510 million deal to acquire Michigan bank
Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.
Q&A: Rep. French Hill on his bid to lead Republicans on the HFSC
The Arkansas Republican is currently the vice chairman of the House Financial Services Committee and has a deep background in the banking industry and policy.
M&T shows progress reducing its CRE exposure
The Buffalo, New York-based bank set a goal four years ago to limit its commercial real estate loan portfolio to 160% of its capital and reserves, and it’s closing in on that target, says Chief Financial Officer Daryl Bible.
Democrats slam U.S. Chamber over credit card fee lawsuit
Democratic Sens. Elizabeth Warren, Mass., and Sheldon Whitehouse, R.I., decried the U.S. Chamber of Commerce’s suit against the Consumer Financial Protection Bureau’s credit card late fee rule, saying the suit is an example of the kinds of frivolous litigation it opposes elsewhere.
Why Goldman Sachs CEO David Solomon has become an AI believer
The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an “unprecedented” opportunity in financing clients’ needs as they invest in AI.
Europe may have an answer to U.S. wire transfer fraud questions
In an ongoing case, Citi and the New York attorney general are disputing who is responsible for wire transfer fraud that drained a customer’s retirement savings.
9 ways AI is transforming the payments industry
Companies are taking vastly different approaches to how they implement generative AI, whether it’s to empower employees or to overhaul the way they bring products to market.
Schwab revenue tops estimates following last year’s tumult
The company reported $4.74 billion in net revenue in the first quarter, down 7.3% from a year earlier but exceeding analysts’ estimates of $4.71 billion.
Goldman’s Wall Street machine revs up driving surprise profit surge
The company’s 28% increase in first-quarter net income was led by its traders — who eluded the slowdown at chief rival JPMorgan Chase — and bankers who cashed in on a resurgence in dealmaking activity.
Basel delay won’t diminish banks’ appetite for synthetic risk transfers
The Fed’s willingness to rethink the Basel endgame is good news for banks, but many large institutions are still going to want to push forward with credit-linked notes and similar strategies.