Read the latest on the banking & finance industries in the U.S. with award-winning analysis and in-depth reporting by American Banker.

Oct 24, 2024 · Fifteen banks have failed since 2019, with the most recent one occurring on Jan. 17.

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. For this ranking, total compensation includes the grant date fair value of equity awards received during the fiscal year as well as the change in pension and non ...

Dec 27, 2024 · Banking regulators hit companies with penalties for poor interest-rate risk, third-party management, anti-money-laundering controls and consumer protection, among other violations.

Nov 12, 2024 · This year, 90 banks made American Banker's 12th annual Best Banks to Work For ranking. The leaders of these institutions share how they keep their employees happy.

Dec 31, 2024 · At TD Bank and some other financial institutions accused of aiding and abetting money laundering, AML and branch employees have colluded and even joked about it in instant messages. Technology is part of the answer to detecting and preventing this.

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.

Dec 24, 2024 · The Bank Policy Institute, the American Bankers Association and others said proposed changes would address "some if not all" of banks' concerns about stress tests, but they are filing the lawsuit to preserve their legal right to do so.

Dec 23, 2024 · The Consumer Financial Protection Bureau sued Walmart and payment app Branch Messenger, accusing them of illegally opening 1 million deposit accounts and charging $10 million in fees. Branch said the agency refused …

Dec 26, 2024 · In a year that saw increasing numbers of banks start AI projects, Altman continued in his role as one of the unofficial deans of generative AI. OpenAI's ChatGPT system, considered the standard in gen AI over the past two years, changed how people interact with the internet. Its dominance, along with competitors from Google and others, has led experts to wonder if the machines are beginning to ...