First Foundation will use the large investment to shrink its multifamily loan portfolio, which has weighed down its earnings since interest rates began rising.
Maryland-based Forbright Bank, which is led by a onetime Democratic presidential candidate, relied extensively on brokered deposits as it grew after a 2021 rebranding. The bank says it has made changes in response to regulators' concerns.
During a panel discussion at American Banker's Digital Banking conference last week, experts from American Commerce Bank discussed the launch of its virtual banking platform and theorized why other executives might be slow adopters.
With the Federal Reserve holding interest rates at elevated levels through the first half of the year, analysts are sharpening their collective focus on possible fallout from high deposit and borrowing costs.
Silvergate's former CEO and onetime chief risk officer settled allegations that they misled investors about the strength of the bank's anti-money laundering compliance program. Meanwhile, Silvergate's former CFO denied separate allegations…
Ficklin has been the CFPB's only fair lending director since 2011, establishing the office under Elizabeth Warren and pushed fair lending enforcement beyond mortgages into other financial products such as credit cards.
The bank has seen positive returns expanding its national branch network, but it is contending with fraudsters who are increasingly targeting branches.
Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking Committee, told Synapse's partner banks, fintech companies and investors to pool together resources to immediately restore customer's access to deposits frozen in lengthy…
Even as more transactions go fully digital via apps and devices, one card manufacturer is betting that metal payment cards have a long-term future as status symbols — and secure payment devices.
CRTs have changed since the financial crisis. But the eventual credit cycle turn is likely to show again that weaker banks' CRT use merely transformed, but did not eliminate, risk.
In this edition of American Banker's news quiz, test yourself on the Synapse bankruptcy, the growth of alleged violations of the Fair Credit Reporting Act, Funding Circle's sale of U.S.-based assets and more.
Banking experts are divided on how regulators will reshape the capital overhaul and if reported revisions being floated by regulators will meet the banking industry's demands.
Two days after the Fed released the results of its annual stress tests, the nation's eight largest banks all announced plans to supplement their payouts to shareholders. At the same time, most of the banks also said that their capital…
The Tennessee bank is the latest to be punished for lapses in oversight of fintech partners. Unlike most FDIC consent orders, the filing liberally uses the terms "fintech" and "BaaS."
The trade groups said Friday that a proposed rule from CISA would burden firms with overly broad reporting requirements as they scramble to respond to incidents.
Bloom Credit Union and West Michigan Credit Union aim to join forces; Long Island-based New York Community Bancorp plans a reverse stock split; Providence, Rhode Island-based Citizens Financial hires longtime California banker to lead its…
The high court's much-anticipated ruling gives federal courts — rather than executive agencies — the power to interpret ambiguous statutes. The decision is expected to facilitate an increase in litigation over banking regulations.
The Treasury Department's Financial Crimes Enforcement Network issued a proposal mandating banks enhance their anti-money-laundering and counterterrorism financing programs, including measures to address fentanyl trafficking and Russian…
The real test of the value of investments in artificial intelligence and other tech upgrades is the generation of measurable value across a bank's lines of business.
Large and regional banks again proved their resiliency in the Fed's annual exams. But analysts noted that a few lenders faced some negative surprises — a development that may scuttle investor hopes for share buybacks by those banks.
VersaBank plans to use the one-branch Stearns Bank Holdingford in Minnesota as a platform to expand a lucrative niche business acquiring loan and lease receivables from point-of-sale lenders.
The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's…
Leaders that have created virtual "branches" weighed in at American Banker's Digital Banking conference on how to approach implementation and what results have been like.