U.S. bank M&A deals that were terminated in 2023
The calling off of the TD-First Horizon deal drew the most headlines, but 14 agreements involving the purchase of a bank were canceled last year.
CFPB $8 credit card late fee rule comes amid White House fee crackdown
The Consumer Financial Protection Bureau will release a final rule Tuesday that is expected to save consumers $10 billion a year in credit card late fees. The rule is part of a larger effort by the White House to crack down on illegal fees and price hikes that President Biden will address in the State […]
Troubles at NYCB highlight pain in rent-regulated real estate
Long Island-based New York Community Bancorp has a large concentration in loans on New York City apartment buildings with rent restrictions. Property values in that sector have tanked amid higher interest rates, inflation and 2019 revisions to state law.
Puerto Rican bank seeks $150 million in damages in Fed lawsuit
Banco San Juan Internacional is suing the Federal Reserve Bank of New York and the Board of Governors in Washington claiming they wrongfully terminated its access to the federal payments system.
The AI bringing zen to First Horizon’s call centers
A large language model detects signs of agent burnout and sends stressed-out employees calming videos created by Ariana Huffington’s company Thrive Global.
J.P. Morgan hires three ex-Citi employees as it moves to beef up munis
The bank has also hired some analysts to its infrastructure group over the past several weeks as it plans to beef up its muni team.
Zelle transactions reached $100 million an hour in fourth quarter
The peer-to-peer network moved $219 billion in the final three months of 2023, with scams and fraud accounting for about 0.1% of all volume, according to Early Warning Services, which operates Zelle and is owned by a consortium of banks.
JPMorgan’s Anu Aiyengar on what lies ahead in M&A
Anu Aieyengar, Global head of M&A at JPMorgan discusses her career and her outlook for M&A activity in the year ahead.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | MARCH 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 December 2023. […]
Decoding the CFPB’s puzzling position on earned wage access programs
The Consumer Financial Protection Bureau says it is in favor of consumer choice, but its shifting position on earned wage access calls that commitment into question.