Banks’ Q2 profits rise to $71.5B despite lending headwinds
Net income climbed more than 11% from the first quarter, even as banks set aside more money for possible bad credit and wrestled with deteriorating office markets.
ConnectOne to expand on Long Island with $284 million acquisition
The deal to buy The First of Long Island Corp. would create a $14 billion-asset bank with $11 billion of both loans and deposits.
CIBC shuffles leaders again as Hountalas moves to vice chair
Canadian Imperial Bank of Commerce is planning its second executive shuffle in six months, which the CEO says is part of its routine talent-management process.
Kamala Harris has an opportunity to make crypto better for consumers
The Democratic nominee should seize the moment and reset her party's relationship with the crypto industry, focusing on safety, equity and access to financial services.
New Mountain merger to create $3 billion medical payments company
New Mountain Capital is combining three companies in its portfolio: the Rawlings Group, the payment-integrity business of Apixio, and a recently acquired firm called Varis. The new entity would use AI to track health plans' payments to doctors and hospitals.
Banks hint at legal challenge to new interagency security tracking rule
The American Bankers Association says a proposal to replace its own financial security identifier with one owned by Bloomberg exceeds the agencies' statutory authority and could disrupt financial markets.
These U.S. banks closed the most branches in the second quarter of 2024
The top five banks in this list closed a net total of 148 branches in this time period — and 492 branches in the past 12 months.
Former Discover executive says she was ‘scapegoat’ for legal troubles
Diane Offereins retired from a top job last year amid scrutiny of the card network's charges to merchants. Now she's suing Discover over its decision to cancel unvested stock worth $7 million.
Visa, Mastercard and Google go big in India; U.K. interchange suit moves forward
he card brands and tech giants are expanding their payments reach in one of the world's largest markets, while facing a multi-billion-dollar class action complaint by British businesses over fees. That and more in American Banker's weekly global roundup.
TD CEO says the bank’s size helps explain risk management failures
The Canadian bank expects to spend more than $3 billion on U.S. regulatory penalties in connection with its anti-money-laundering problems. "It's easy in a bank of our size to sometimes not look at accountabilities as clearly as we should," CEO