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Read the latest on the banking & finance industries in the U.S. with award-winning analysis and in-depth reporting by American Banker.
Fed to consider changes to stress testing | American Banker
Dec 23, 2024 · The Federal Reserve is open to changing its stress-testing practices in hopes of heading off potential future legal challenges. On Monday, the Fed said it would ask the public for input next year on how to make the annual tests more transparent and the capital requirements that come from them less ...
20 highest-paid bank executives - American Banker
Aug 29, 2024 · In 2023, the top five bank executives with the highest total compensation earned a combined salary of more than $147 million. The average salary for the 20 bank executives making the most money in 2023 was more than $21 million.
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.
SouthState's $2B bank deal, the year's largest, clears key hurdles
Dec 18, 2024 · Winter Haven, Florida-based SouthState Corp. announced in May a $2 billion, all-stock bid to acquire McKinney, Texas-based Independent Bank Group.The Federal Reserve Board and Office of the Comptroller of the Currency approved the merger this month, clearing major hurdles on the path toward an expected closing early in 2025.
American Banker November/December 2024
From Donald Trump to Gunjan Kedia, Jerome Powell to Jamie Dimon, here are the politicians, bankers, regulators, tech execs, lobbyists and lawyers who will impact the industry this year (plus Taylor Swift).
Why banks are closing so many branches | American Banker
Dec 6, 2024 · U.S. banks shuttered 439 branches in the third quarter alone, the S&P Global data show. That was up from 199 in the prior quarter. It also marked the highest quarterly level of net closings since the first quarter of 2022, when banks turned out the lights on 960 locations.
How USAA landed in regulators' hot seat | American Banker
Nov 21, 2024 · USAA's banking arm has grown its customer base for years, all while failing to make the investments needed to keep both its regulators and some decades-long customers happy, according to a joint investigation by American Banker and the San Antonio Current.
Evolve Bank update, fresh lawsuit in Synapse bankruptcy
Dec 2, 2024 · Yotta further said in its lawsuit that according to Synapse's records, Evolve and Synapse gave $50 million in customer funds to another fintech company, Mercury, while migrating the company from Synapse's software to Evolve's software.
French Hill named chairman of House Financial Services Committee
Dec 12, 2024 · As chairman of the House Financial Services Committee, Hill's priorities are likely to include scrutiny toward bank agency rulemaking, reducing costs for businesses, promoting data privacy and instituting market-driven solutions for issues …