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When the superregional bank sold its insurance business for $10.1 billion, it laid out three ways to use the proceeds: buybacks, a balance sheet repositioning and loan growth. The latter plan is so far proving to be elusive.
July 22
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Bank OZK is the latest commercial real estate-heavy bank to announce plans to diversify its business. CEO George Gleason emphasized that he's confident in the bank's loan portfolio, but said he thinks misperceptions are dragging down the stock price.
July 22
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In this edition of American Banker's news quiz, test yourself on the latest items covering FedNow's progress since launch, the merger between Capital One Financial and Discover Financial Services and more.
July 22
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Vice President Kamala Harris, the most likely choice to replace President Joe Biden on top of the Democratic presidential ticket in November, has a long and complicated history with the banking industry.
July 21
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The agencies are considering a rule change that would impact their policies on money laundering and terrorism finance. The proposal comes as the Financial Crimes Enforcement Network considers a similar update.
July 19
As a former Claims Executive, CIO and Head of Innovation, Stephanie has built a career focused on understanding the business pain points of insurance carriers and implementing right-fit technology that improves adjuster and agent efficiency while ensuring policyholder experiences are modern, simple and lovable. Stephanie has experience leading major claims-based digital transformation initiatives, has successfully managed large-scale Guidewire implementations and regularly worked with carriers to architect multi-year claims technology roadmaps designed to reduce expenses without sacrificing the customer experience. Her ability to balance business outcomes with a human-centered design approach has enabled her to partner with insurance executives as they consider how to further streamline communication and collaboration efforts across the insurance ecosystem to drive efficiencies.
Cade Thompson is co-president and chief growth officer of
The Florida company has created a series of programs to coach leaders on motivating employees and avoiding conflict.
The community bank has developed trivia and other Zoom-based games to keep workers engaged during the pandemic.
Many in the industry were adding counseling services to benefits packages even before the coronavirus outbreak spurred demand for assistance with mental well-being.
The agencies are considering a rule change that would impact their policies on money laundering and terrorism finance. The proposal comes as the Financial Crimes Enforcement Network considers a similar update.
Community and advocacy groups opposed Capital One's proposed acquisition of Discover in a hearing held by federal regulators on Friday.
The Alabama-based bank also said that its outlook for net interest income is brightening. Several other regional banks have offered similarly upbeat guidance in recent days.
Cade Thompson is co-president and chief growth officer of
As a former Claims Executive, CIO and Head of Innovation, Stephanie has built a career focused on understanding the business pain points of insurance carriers and implementing right-fit technology that improves adjuster and agent efficiency while ensuring policyholder experiences are modern, simple and lovable. Stephanie has experience leading major claims-based digital transformation initiatives, has successfully managed large-scale Guidewire implementations and regularly worked with carriers to architect multi-year claims technology roadmaps designed to reduce expenses without sacrificing the customer experience. Her ability to balance business outcomes with a human-centered design approach has enabled her to partner with insurance executives as they consider how to further streamline communication and collaboration efforts across the insurance ecosystem to drive efficiencies.
Cade Thompson is co-president and chief growth officer of
- Immigrants transfer billions overseas every year, and that market is dominated by nonbanks, crypto and fintechs. Those services could help banks get more customers in the door, but it’s easier said than done.
- Many fintech companies are offering quality, low-cost services to people who are left out of mainstream banking. But low-income consumers face barriers that technology alone can't solve.
- Learn how digitization can address trade finance challenges such as manual processes, siloed data, the need for resiliency, and meeting ESG goals.
- Community banks sometimes feel that they lack the budget and staff to compete with larger banks and fintechs on things like mobile and online banking, virtual assistants and most recently generative AI. Jim Perry, senior strategist at Market Insights, suggests steps they can and should take to stay relevant technology wise.
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The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.
July 18
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The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.
July 18
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FactSet, Brightwave and Bloomberg are among those offering generative AI models that do research legwork. But Wall Street firms have lately been taking a harder look at the cost and return of generative AI.
July 18
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Two recent Supreme Court rulings, Loper Bright and Cantero, are likely to upend the Office of the Comptroller of the Currency's long-standing approach to federal preemption of state banking laws, experts say.
July 18
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Even though the 30-year fixed rate mortgage is at its lowest level since mid-March, consumers are being cautious in returning to the market, Freddie Mac said.
July 18
