John Gorman, CSBS general counsel, dies after battle with cancer
Known by his nickname Buz, John Gorman helped the Conference of State Bank Supervisors launch its nationwide cooperative agreement in 2006 and the National Multistate Licensing System for mortgage lenders two years later.
Midwest deal marks fifth credit union-bank combination of 2024
In a bid for scale and diversification, Illinois-based Empeople Credit Union said it would expand in Wisconsin with the planned acquisition of TSB Bank.
Citadel among hedge funds that got Morgan Stanley’s block-trading leaks
Beyond Citadel, recipients of stock tips described in legal documents — without being named — include people at block-trading specialist CaaS Capital Management, Segantii Capital Management and Evolution Capital Management, according to people with knowledge of the matter.
Banking-as-a-service banks: ‘There is a reckoning’
Financial institutions’ fintech partnerships are facing higher levels of scrutiny. More consistent and direct monitoring of their partners can put them in a better position.
What’s weighing down bank stocks — and likely to keep doing so
Just weeks ago, prospects seemed strong for bank stocks to regain ground after a volatile 2023. But renewed credit concerns stemming from issues at New York Community Bancorp, and the increasing odds that interest rates will remain high for months, have dampened that outlook.
The Climb: Women leaders on their careers in banking and finance.
Anne Clarke Wolff, a longtime Most Powerful Women in Banking honoree, on why she left big banking to start her own investment bank advisory firm.
Virgin Money downsizes, ACI builds payment rails in Nepal
Virgin Money has cut about 150 jobs and 39 branches thus far in 2024, the Central Bank of Nepal has hired ACI Worldwide to build a payment switch to enable interoperable card payments for merchants, and more.
Virtual assistants are the future, but some banks are falling behind
As virtual assistants become central to banking, financial institutions of all sizes must embrace and leverage this transformation to redefine the customer experience.
Jack Ma-backed Ant’s profit fell 92% from higher investment loss
Ant, the company that operates Alipay, saw its quarterly profit fell 92% as the fintech pioneer founded by Jack Ma struggles to revive a business wracked by an economic downturn and more than a year of regulatory scrutiny.
20 banks and thrifts with the largest commercial and industrial loan portfolios
The top five banks and thrifts have more than $1 trillion in combined commercial and industrial loans as of September 30, 2023.