Cullen/Frost’s investment in Texas expansion soon to pay off
The San Antonio-based company plans to remain in state borders, but sees opportunity for growth in major markets.
As the credit union industry booms, who’s watching?
A dramatic boardroom purge at the NCUA has unleashed a fierce debate over the future of credit unions, and whether they’re still serving their original mission.
Wells Fargo to name Scharf chairman
The decision to rejoin the CEO and chairman roles comes roughly two months after regulators removed an asset cap that had stunted the San Francisco-based company’s growth for seven years.
Banks assess security measures in wake of NYC shooting
In New York City and elsewhere, financial institutions are taking stock of their office-building security protocols following the killing of four people, including an investment bank executive, in Midtown Manhattan. Security experts say that layers of protection are essential in all office buildings.
Five FDIC officials engaged in workplace misconduct: report
The Federal Deposit Insurance Corp. withheld bonuses from former FDIC Chair Martin Gruenberg and four senior officials, whose names were redacted from the report, as part of ‘corrective action’ for allegations of misconduct.
White House lays out plan to crack down on illicit crypto
A White House working group is calling for updated crypto regulations, AI-powered fraud detection and clearer guidance for banks.
Former Flagstar CEO accused of ‘brazenly illegal’ conduct
In a new lawsuit, a former Flagstar compliance officer says Alessandro DiNello fired him for investigating his suspected misconduct. In one lurid example, the former CEO allegedly revealed sensitive company information as a junior employee sat on his lap.
How Sathish Muthukrishnan keeps Ally’s data safe from gen AI
The bank’s chief information, data and digital officer shared an update on AI initiatives across the company and how he’s been securely scaling them.
Klarna weighs U.S. IPO revival as soon as September
Klarna Group Plc is considering reviving its potential New York initial public offering as soon as September, people familiar with the matter said, following a recent surge in fintech stock prices and strong debuts of US listings.
A2A payments are picking up. What banks need to know.
A2A, or pay by bank payments, are an alternative to card networks, a lower-cost option that is catching on with consumers and merchants.