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2 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.
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.
American Banker Magazine
The mission of American Banker Magazine is to explore ideas. Our features, news articles, data, rankings and op-eds provide unique analysis of banking trends and strategies.
Glossary of banking terms - American Banker
(1) Initials for asset-backed security. See asset-backed security. (2) The name for a convention used to express the rate of prepayments for an asset-backed security. ABS expresses principal prepayments as a percentage of the original number of loans or contracts in the pool of securitized loans ...
Bessent to be Treasury nominee, Trump taps Turner for HUD
Nov 23, 2024 · "We look forward to hearing more about his views during the confirmation process, and, if confirmed, we look forward to working with him to grow the economy, expand opportunity for all Americans, and put in place a commonsense regulatory framework that allows banks to best serve their customers, clients and communities," Nichols said.
15 most recent bank failures - American Banker
Oct 24, 2024 · Since 2019, 15 banks have failed, with five banks failing in 2023 alone. On October 18, 2024, First National Bank of Linday's demise marked the second bank failure of the year. The collapse raised questions about whether the failure was caused by errors at the bank or by economic issues that could affect other institutions.
FDIC cites three Texas banks over risk management, liquidity
Oct 25, 2024 · The Federal Deposit Insurance Corp. and Texas banking regulators issued consent orders against Industry State Bank, Fayetteville Bank, and Citizens State Bank requiring major overhauls of their management, capital, and risk controls. The banks were among those found to be underwater in their held-to-maturity securities portfolio after interest rates spiked in …
Banks' gripes with big credit unions are gaining momentum
Nov 5, 2024 · In response, credit u nion industry leaders including the New York Credit Union Association President William Mellin and America's Credit Unions President Jim Nussle sent a joint letter to Rep. Tenney pushing back on the member's stance. "We strongly disagree with the notion that credit unions are somehow less regulated than banks.
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 …
Fed's Bowman: Regulators 'must have an openness' to AI
Nov 23, 2024 · When asked following her prepared remarks whether AI could potentially replace regulators' own money-laundering oversight in light of recent enforcement actions against TD Bank and Bank of America, Bowman demurred, saying the technology could certainly be a tool for human supervisors but shouldn't be viewed as an alternative to them.