English

americanbanker.com

Friday, Nov 1

00

Townstone Financial agrees to settle redlining case

The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.

22

CFPB threatens Meta with lawsuit over finance-related ad data

The company disclosed the potential for legal action 'in the near-term' by the bureau in a recent earnings disclosure.

Why Marqeta became a BNPL matchmaker

The payment company is connecting installment lenders with borrowers who may be looking for a product instead of a specific company.

20

US Bancorp splits payments biz; Flagstar ups tech and risk oversight

U.S. Bancorp is splitting its payment services business in half; Flagstar Financial continues to fill out its leadership with an eye toward tech and risk management; First Horizon authorized an additional $350 million in stock buybacks for…

CFPB penalizes credit union over 'botched' digital banking upgrade

The agency said VyStar customers took on fees and credit report demerits because they could not access banking functions for months following an attempted upgrade.

19

HomeStreet readies backup plan after regulators block deal

HomeStreet and FirstSun are working to devise a new formula after the Texas Department of Banking and the Federal Reserve declined to approve their merger application.

Don't fix what isn't broken at the Federal Home Loan banks

The Home Loan banks have been a stable source of community bank funding for generations. An unnecessary regulatory crackdown now puts that reliability in question.

17

Mid Penn Bancorp strikes deal to acquire rival, expand in Philadelphia

The buyer said it would pay $127 million in stock to acquire William Penn Bancorp in suburban Bristol, Pennsylvania.

16

We need both supply and demand strategies to address fair housing

Systemic racial inequality has long been a drag on the U.S. economy, and nowhere is that more apparent than in the housing market. There are smart strategies that would even the playing field.

14

Weak October jobs report gives Fed ammo for rate cut

Initial employment data shows virtually no job growth in October. With the Federal Reserve's focus on the labor market, the reading could seal the deal for a November rate cut.

12

Ex-Trump Treasury Secretary eyes more voting power at Flagstar

Former Treasury Secretary Steven Mnuchin and his investment firm Liberty Strategic Capital are seeking to more than double his indirect ownership stake of Flagstar Financial — formerly New York Community Bank — to 22.9%, according to…

Thursday, Oct 31

00

CFPB considers enforcement action against Capital One

www.americanbanker.com

The regulatory scrutiny involves online savings accounts that allegedly deceived consumers into believing they were receiving high rates.

22

When a bank fails after engaging in redlining, who's responsible?

www.americanbanker.com

Republic First Bank allegedly discriminated against minority borrowers before it went under in April. New Jersey officials want both the acquirer of its remains, Fulton Bank, and the FDIC to assume some responsibility.

21

How to apply for the Best Places to Work in Fintech for 2025

www.americanbanker.com

American Banker and Best Companies Group are gearing up for their annual ranking of fintech companies that keep their employees happy.

20

Capital One, Mastercard leaders seek a return on their gen AI efforts

www.americanbanker.com

As firms rush to roll out viable use cases, developing an effective internal governance structure is key, companies said at Money 20/20.

19

Republican lawmakers urge caution in BaaS regulation

www.americanbanker.com

House Republicans called on regulators to balance the need for more rules around bank-fintech partnerships with the need to foster innovation and consumer access and emphasized collaboration with state regulators.

Central Pacific's deal talks for American Savings in Hawaii stall

www.americanbanker.com

The Honolulu-based banks were reportedly in advanced discussions. But the would-be buyer said "the parties are no longer currently engaged in discussions."

Zelle fraud, JPMorgan Chase's AI race: Top tech news October 2024

www.americanbanker.com

This month's roundup features news about the rising concerns of Zelle fraud, JPMorgan Chase's AI arms race with Capital One and more.

18

TD money-laundering, CFPB rule 1033: Top banking news October 2024

www.americanbanker.com

This month's roundup includes items on TD Bank Group's asset cap and $3 billion in money-laundering fines, the Consumer Financial Protection Bureau's final rule on open banking and more.

17

'Nothing spooky here': Mastercard bullish on strong spending

www.americanbanker.com

Transaction volume and nonpayment services boosted earnings, and the card network expects these trends to continue into 2025.

16

Don't ask for lower capital requirements; demand better capital rules

www.americanbanker.com

Banks are not likely to see their regulatory capital requirements decline any time soon. But the way capital levels are calculated could be made more reflective of real risks.

15

September headline inflation gives Fed flexibility on raising rates

www.americanbanker.com

Core PCE held steady as service costs rose, but the overall report maintains the central bank's flexibility ahead of next week's Federal Open Market Committee meeting.

12

Exclusive: Warren slams DOJ for side-stepping tougher action against TD

www.americanbanker.com

Sen. Elizabeth Warren said in a letter that the Department of Justice intentionally avoided threatening TD Bank's charter to operate. The Massachusetts Democrat also pressed the agency to prosecute bank executives.

02

Cantero ruling takes center stage in Illinois swipe fee suit

www.americanbanker.com

A Supreme Court ruling from earlier this year regarding national bank preemption is already playing a prominent role in the banking sector's challenge to a state law on charge card fees.

Wednesday, Oct 30

22

Global Payments CEO: 'We lost a little focus'

www.americanbanker.com

The processor's sale of medical software firm AdvancedMD comes as it prioritizes small-business payments, according to Cameron Bready.

New beginnings for seasoned warehouse lending executive

www.americanbanker.com

Drey Roberts and his team move to de novo warehouse lender Primis Bank as former home Independent Bank makes a strategic exit.

20

Western Union buys a digital wallet; MoneyGram gets new CEO

www.americanbanker.com

The global transfer companies made big moves this week, with Western Union buying Dash from Singtel Singapore, while former Walmart executive Anthony Soohoo will be the new boss at MoneyGram.

Why Provident in N.J. is bullish on loan growth

www.americanbanker.com

The $24 billion-asset bank fully integrated its acquisition of Lakeland Bancorp during the third quarter, and that milestone has positioned the bank for growth, executives said.

Citadel redlining case shows credit unions should be under CRA

www.americanbanker.com

Leaving credit unions exempt from the Community Reinvestment Act preserves a gaping hole in regulations designed to make sure that financial services firms make loans available in underserved communities across the country.

18

First Horizon goes it alone — together

www.americanbanker.com

When TD Bank's $13 billion acquisition fell through, First Horizon was forced to quickly come up with a plan. Here's how the bank's culture of sharing ideas and inclusion helped.