Nathan Place

Since Michael Rhodes became its CEO, Ally Financial has gotten bigger by thinking more narrowly. Instead of growing the company's web of businesses, the company has exited some sectors while doubling down on what Ally does best: auto lending.

The super-regional bank is increasingly building AI on its own. The point, CEO Bill Demchak said this week, is not just to foster innovation but to protect the bank from rising costs.

BofA is using an old-school method to battle the world's newest scams: in-person seminars, taught at brick-and-mortar branches.

At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.

New York State's attorney general has reached settlements with the two banks, which will pay a combined $90,000 in penalties in connection with alleged violations of rent stabilization laws.

In 2024, a Honduras-born man who was buying a motorcycle was turned down for a loan. Two years later, Truist Financial is facing a discrimination lawsuit — and the plaintiff's lawyer says many lenders are vulnerable to the same accusations.

Lately there's been a sea change in how tech companies charge for AI, and some banks are balking at the cost. Here's a look at how lenders can rein in their spending.

Key Insight : Merrill Lynch, which allegedly failed to report certain suspicious activities, is paying for the shortcomings of its parent company's systems.

The Alabama company has a long history of absorbing smaller firms with special skills. Acquiring the investment bank Frazer Lanier, an analyst said, is another example of that strategy.

Two investors are in open revolt over what they see as inaction and underperformance at United Bancorporation of Alabama. Among their demands: more stock buybacks, lower expenses and new faces on the board of directors.