The payments processor can undercut rivals on price because it won’t be paying bank fees, industry consultants say.

Alleged "fraud" is believed to be behind the First National Bank of Lindsay's failure, the second U.S. bank collapse this year. The FDIC’s Deposit Insurance Fund will take a roughly $43 million hit.

Customers who are owed will be asked to choose a payment method Nov. 4, with payments beginning “shortly thereafter,” the bank said Saturday.

The reserve ratio for the Deposit Insurance Fund will reach the statutory minimum level in 2026, ahead of a 2028 deadline, the agency’s staff projected, though that estimate is “subject to uncertainty ...

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In one instance, a banker convicted of prior fraud took her sister’s identity to regain employment at Citi, the OCC said.

Maitland-based Axiom Bank agreed to revamp its BSA/AML program and look back at its suspicious activity reporting history.

In a tightening race, Capital One gained ground by adding engineering talent, according to Evident research published Thursday.

The bank cut roughly 700 employees, or 8% of its workforce, it said Thursday, and anticipates shedding another 1,200 when mortgage servicing and third-party origination roles transfer to Mr. Cooper.

The board has approved an amendment to change New York Community Bank’s name to Flagstar Financial, effective Oct. 25.

The move comes nearly a year after dozens of employees alleged the agency tolerated rampant sexual misconduct and retaliation in a Wall Street Journal exposé.

As the bank approaches five years since the completion of the SunTrust-BB&T merger, Truist CEO Bill Rogers sought to assure analysts Thursday that it’s on offense rather than defense.