Citi’s profits fall as it gets closer to exiting Russia
The megabank’s net income declined by 13% during the fourth quarter as a result of a $1.2 billion pre-tax loss on sale related to the divestiture of its remaining operations in Russia.
Trump’s CCCA boost is misguided; the bill would harm military families
The heads of two associations representing military-serving financial institutions argue that the Credit Card Competition Act, as well as the president’s demand for credit card rate cuts, would harm troops by reducing access to credit.
Bank of America inches past estimates, buoyed by net interest income
In the fourth quarter of 2025, America’s second-largest bank posted earnings that came in just above Wall Street’s forecasts.
Regions Financial’s longtime CFO announces his retirement
David Turner has overseen Regions’ finance function since 2010. The Birmingham, Alabama-based company tapped Controller Anil Chadha to replace him.
What U.S. Bank’s innovation leaders liked at CES this year
Virtual reality and agetech devices were among the consumer electronics devices that caught the attention of U.S. Bank Chief Innovation Officer Don Relyea and Head of Research and Development, Innovation Todder Moning.
U.S. Bancorp to pay up to $1B for the investment bank BTIG
The Minneapolis-based bank has collaborated with BTIG since 2014. The investment bank’s leadership team will join U.S. Bancorp following the deal’s expected completion in the second quarter.
Citi to cut about 1,000 jobs this week as Fraser trims costs
“These changes reflect adjustments we’re making to ensure our staffing levels, locations and expertise align with current business needs; efficiencies we have gained through technology; and progress against our transformation work,” the company said in a statement.
Crypto-friendly lender Old Glory to go public through SPAC
The bank, which has ties to prominent right-wing political figures, is touting its intention to embed cryptocurrency into loans, deposits and investment offerings.
Trump backs Durbin-Marshall swipe fee bill
President Donald Trump said that lawmakers should support legislation that would require credit cards issued by most large banks to offer merchants the choice between two unaffiliated card networks, one of which cannot be Visa or Mastercard.
Global Payments closes Worldpay purchase, issuer sale to FIS
The $24.3 billion acquisition and $13.5 billion divestiture deal enables Global Payments to focus more on its core payments technology.