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5 days ago · Read the latest on the banking & finance industries in the U.S. with award-winning analysis and in-depth reporting by American Banker.
American Banker November/December 2024
From Donald Trump to Gunjan Kedia, Jerome Powell to Jamie Dimon, here are the politicians, bankers, regulators, tech execs, lobbyists and lawyers who will impact the industry this year (plus Taylor Swift).
How USAA landed in regulators' hot seat | American Banker
Nov 21, 2024 · Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.
The Most Powerful Women in Banking 2024: Top Teams
Oct 1, 2024 · As many regional banks retrench, Huntington Bancshares, the holding company for Huntington Bank has bet on new markets and verticals.Propelling this expansion are six women in the commercial bank. "It has not been an easy time in banking," said Karen Davies, executive managing director of specialty banking at Columbus, Ohio-based Huntington.
FirstSun's HomeStreet deal is off. What happens now?
Nov 19, 2024 · Analysts say the deal's cancellation means the real estate-heavy HomeStreet is up for grabs for another buyer. The company's stock dropped in 2023 over fears of high interest rates putting pressure on its multifamily loan portfolio, prompting the bank to sign a …
Two lawsuits accuse Ally Bank of failing to protect customer data
Sep 20, 2024 · Data-breach lawsuits have become more common as breaches themselves happen with unrelenting frequency. The number of data breaches in the U.S. rose from 447 in 2012 to more than 3,200 in 2023, according to Statista.In a more recent trend, cybercriminals often publish and sell the stolen customer data on the dark web.
FDIC chair Martin Gruenberg to step down in January
Nov 19, 2024 · Gruenberg's long tenure at the agency became the focus of Congressional Republicans in recent months after numerous allegations of sexual harassment and racial discrimination at the FDIC emerged in news reports and were later substantiated by an independent third-party review. Gruenberg said earlier this year that he would resign upon the confirmation of a successor, though even his political ...
20 banks with the biggest commercial real estate loan portfolios
Jun 30, 2022 · The top five banks in our ranking had a combined commercial real estate portfolio of nearly half a billion dollars at the end of 2021. With several leaders growing by more than a third last year, others saw year-over-year increases of more than 120%. Scroll through to see which banks made the top 20 and how they fared in the 12 months ending in Dec. 31, 2021.
Citi freed from an 11-year-old Fed enforcement action
Oct 1, 2024 · Another FDIC consent order related to Banamex USA followed in 2015. And two years later, Banamex USA agreed to pay $97.4 million to the Department of Justice over anti-money-laundering abuses tied to Mexico-bound remittances. While the action announced Tuesday by the Fed is a positive development for Citi, the New York megabank continues to work on meeting the requirements of a pair of consent ...
Survey finds small-business confidence on upswing
Oct 11, 2024 · Small-business owners exhibit high levels of trust in their primary banking partner, American Banker's research found. In most cases, 68%, retail banks controlled that primary relationship, yet the survey indicated most businesses maintain relationships with additional lenders, including fintechs and credit unions.