Federal Home Loan banks’ profits skyrocket from 2023 liquidity crisis
Critics argue the Federal Home Loan Bank System earned record profits last year and should provide a public benefit commensurate with the perks to members.
NYCB’s new risk team fails to calm investors, ratings firm
New York Community Bancorp faced new questions Friday after a flurry of disclosures led to a steep sell-off in its stock. The embattled Long Island-based lender beefed up its risk leadership, but Fitch cut its rating to “junk” status.
Why this community bank used a search firm to find its next CEO
Ryan Bailey’s brief includes refreshing Cambridge Savings Bank’s digital-only brand Ivy Bank. The institution believes his prior stint at USAA has prepared him for the challenge.
With $10M payday, Wells rewards wealth management head
Barry Sommers comes in for high praise amid his firm’s attempts to move beyond the banking scandals of its past.
Truist hires former Citi muni bankers to build ‘national scope’
Truist has made about 20 hires including bankers, traders, and sales personnel from Wells Fargo, Hilltop Securities and T. Rowe Price, to build up its muni team.
FirstBank shakes up exec team, KeyCorp’s new chief accounting officer
The CEO of FirstBank in Colorado will retire at the end of the month, KeyCorp’s chief accounting officer will depart, Fiserv pursues deal to buy Shift4 and more in the weekly banking news roundup.
Metropolitan Commercial to exit the BaaS business entirely
The community bank cites exposure to “heightened, and evolving, regulatory standards” in its decision to wind down banking-as-a-service operations.
How data and analytics can improve pricing in fixed income markets
Lisa Schirf, managing director and global head of data and analytics at Tradeweb, on using AI to build price prediction models for fixed income markets.
Discover buyout, NYCB woes: Top banking news for February 2024
In this month’s roundup of top banking news: The potential impact of Capital One’s purchase of Discover, Citi’s use of generative AI for its developers, the downfall of Heartland Tri-State Bank and more.
BofA data breach, AI importance: Top tech news for February 2024
In this month’s roundup of top tech news: Bank of America’s data breach affects more than 57,000 consumers, banking-as-a-service’s looming reckoning, the downfall of Heartland Tri-State Bank and more.