American Banker

Join this webinar to discover how identity verification and fraud prevention allow financial institutions to stay ahead of emerging fraud threats with ease. https://bit.ly/3CeFUOr

Simmons First National in Pine Bluff, Arkansas, said on Tuesday that CEO Robert Fehlman will retire at the end of this year and be replaced by a familiar face — former CEO George Makris Jr. The bank also announced that Chris Van Steenberg, who most recently worked at First Horizon Bank, has been hired as Simmons' chief operating officer. He starts immediately and will report to Simmons President Jay Brogdon.

The hope of a second Trump administration is a return to a better economy, like the one he oversaw for most of his first term. But his campaign promises would move the economy in the opposite direction, so Trump will have to choose between delivering on his literal promises or his meta-promises.

The unexpected re-election of Donald Trump has set the stage for substantial changes in the financial sector. Despite earlier predictions of a Harris victory, banks like JPMorgan Chase and Citigroup experienced significant stock price gains, driven by anticipated regulatory reforms. As the Trump administration revisits its approach to tax cuts and spending, the focus will also be on the directions taken by agencies like the Consumer Financial Protection Bureau and the Federal Reserve. Analysts are monitoring the potential long-term implications for the finance industry. Explore the full analysis in the latest American Banker article. #bankingindustry

As long as fraud-prevention efforts remain siloed and bank-specific, perpetrators are free to successfully repeat their strategies. Banks need to do a better job of sharing information and collaborating, writes Mykhailo Iakovenko, of Canonical Labs, in American Banker's BankThink.https://https://lnkd.in/eN5Emjte

What did bankers get right and wrong about this year's election? Join me and Arizent VP of Research Janet King tomorrow at 12:30ET as we discuss how the results match up to American Banker reader predictions — and what bankers can expect from a second Trump term. Sign up here: https://lnkd.in/eKyRSK-P

Back in September, when I initially scheduled this interview with the Consumer Financial Protection Bureau's Mark McArdle for tomorrow, we knew there would be a lot to discuss.... and boy is there. Register now for the 1pm EST discussion Tuesday. A recording will NOT be available on-demand afterward, so you literally can't miss it. https://lnkd.in/efRiDbCr

Deregulation under the second Trump administration could mean banks are set free — but also face a new cohort of competitors. Karen Petrou said bankers are right to be wary of the "tsunami" of regulation that have been proposed in recent years, but warned them not to let recent events distract them from the dangers of digital assets firms being permitted to engage in bank-like activities without facing the limitations — and costs — associated with bank regulatory regimes, writes Kyle Campbell in American Banker.

What Trump presidency will mean for banks' AI projects; activist group seeks seats at Carver's board table; crypto for B2B payments makes headway; and more in today's newsletter.

JUST RELEASED: American Banker's 12th annual Best Banks to Work For ranking, which includes 90 banks that range in size from the 52-employee First Federal Savings & Loan Association in Pascagoula, Mississippi, to SouthState Bank in Winter Haven, Florida, where the workforce exceeds 5,200 people. Check out the full list here.