- + How these 24 people changed banking in 2024 —Looking back at the year, this is how they impacted the financial services industry. [Category: Industry News , 24 in 24 ] [Link to media]
- + Anti-money-laundering cases pile up in 2024 —Banks such as TD, Wells Fargo and Bank of America drew attention this year for money-laundering issues. That's one of several top regulatory news item...
- + 2025 will be a watershed year when it comes to fighting fraud —New tools, new partnerships and a new focus on combating increasingly complex fraud schemes will take center stage in the new year. This could be a tu...
- + Five monetary policy developments to watch in 2025 —The Federal Reserve is poised to make several key decisions during the year ahead that will impact monetary policy both in the near term and for years...
- + Payments trends that will drive 2025 —From embedded finance to artificial intelligence to real-time processing, there are plenty of sources of competition and opportunity in the new year. ...
- + J.P. Morgan melds its buy-side data with FactSet analytics —The integration of J.P. Morgan's Fusion platform with FactSet aims to give buy-side clients the same level of analytics available to the sell side. [C...
- + Fincen beneficial ownership reporting deadlines reinstated, extended —The Treasury Department extended deadlines for businesses to file beneficial ownership information after a court lifted a nationwide injunction on the...
- + SBA approves new wave of SBLC 7(a) lenders —On her way out the door, SBA Administrator Isabel Casillas Guzman issues licenses to four more nondepository lenders. [Category: SBA , Community ban...
- + Banks sue Fed over stress tests —The Bank Policy Institute, the American Bankers Association and others said proposed changes would address "some if not all" of banks' concerns about ...
- + Financial literacy can lift up historically marginalized communities —Banks can and should play a key role in giving members of minority groups and other underserved communities the tools they need to navigate an increas...
- + 20 banks and thrifts with the most first-mortgage loans —JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30. [Category: ...
- + Are fintech loans a better deal for subprime customers? —Fintech lenders often get criticized for high rates or fees on their consumer lending. But there's an argument to be made that the alternatives are wo...
- + Fed to consider changes to stress testing —The Federal Reserve will seek comment on the current stress-testing regime with an eye toward increasing transparency and reducing volatility. Modific...
- + CFPB sues Rocket Homes, brokerage over kickback scheme —The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage. [Categor...
- + Why Visa is homing in on the creator economy —The emerging industry could be worth as much as $480 billion in two years, and payments are central to that growth. [Category: Payments , Digital pa...
- + Discover fixes SEC issue that delayed Capital One deal —The two companies continue to tick items off their year-end to-do list, which analysts hope will tee up the merger for finalization in early 2025. Reg...
- + What lenders want from Trump White House, Congress in 2025 —The industry agenda calls for amending longstanding rules like loan officer compensation, to nixing Biden-era plans trade groups say hurt both consume...
- + State Street deposited $100 million at minority banks in 2024 —The custody bank achieved its goal for the amount of deposits it placed into minority banks and community development financial institutions by the en...
- + OCC issues Bank of America cease-and-desist for AML lapses —Bank of America must overhaul anti-money-laundering protocols and hire third-party consultants, but will not face growth limits, following OCC action ...
- + Why setting Fannie Mae and Freddie Mac free is a gamble —Releasing the GSEs from government conservatorship is on the agenda for the incoming Trump administration. Doing so could threaten the 30-year fixed r...
- + CFPB accuses Walmart and Branch of opening illegal accounts —The Consumer Financial Protection Bureau sued Walmart and payment app Branch Messenger, accusing them of illegally opening 1 million deposit accounts ...
- + A federated digital dollar is key to sustaining US economic leadership —The U.S. is risking the status of the dollar as the world's reserve currency by delaying the launch of a central bank digital currency. Adopting a "fe...
- + The economy is looking good for banks in 2025 — but watch out for 2026 —Economists say the U.S. economy is leaving 2024 healthy, with unemployment low, inflation manageable and growth robust. Unknown variables — including ...
- + Banner year for CU-bank tie-ups extends with deal in Maryland —Hanscom Federal Credit Union in Massachusetts said it would acquire Peoples Bancorp and its insurance agency. It marked the 21st deal of the year invo...
- + OCC highlights growing pressures in 'sound' banking system —The OCC's 2024 annual report said that while the federal banking system remains stable, it faces challenges such as rising credit costs, declining net...
- + BNY expands employee benefits, boosts minimum wage to $25 per hour —BNY announced expanded employee benefits and a boost in its minimum wage for all U.S.-based employees; Synovus has added former FIS executive Greg Mon...
- + Technology, fees and a mega-merger: top payments news of 2024 —The Capital One-Discover merger, the war against Visa and Mastercards' swipe fees and budding payment technologies were most popular with American Ban...
- + Banks fleeing X may soon turn to Bluesky —Financial institutions that build a presence on the social media platform could gain a first-mover advantage and a communications channel with potenti...
- + What bankers need to know about a government shutdown —Flood insurance could hold up some home sales and lending, while major bank regulatory agencies will remain funded even if the government is unable to...
- + CFPB sues BofA, JPM and Wells over Zelle fraud —The Consumer Financial Protection Bureau sued three of the largest U.S. banks for fraud perpetrated on the bank-owned payment network Zelle, alleging ...
- + Trump's appointment of Sacks bodes well for smarter fintech regulation —By naming David Sacks as his "AI & Crypto Czar," Donald Trump has sent a strong signal that forward-thinking regulation of the most vibrant sector...
- + Exclusive: Deposit-insurance reform picks up steam with Waters bill —The proposal has similar elements to Republican-led legislation, including a piece of a measure from Vice President-elect JD Vance. [Category: Politi...
- + Inside the growing, bipartisan demand for CEO accountability —The Federal Deposit Insurance Corp.'s decision to weigh civil lawsuits against Silicon Valley Bank executives to recover losses to its Deposit Insuran...
- + Chopra calls on FDIC to step up AML enforcement after TD case —TD Bank Group's money-laundering-related crimes have sparked questions of how banks should be penalized for moving dirty money. CFPB Director Rohit Ch...
- + SBA's biggest lending program is expanding. So are its problem loans —With default levels drifting higher, some program participants are calling on the incoming Trump team to rethink the Small Business Administration's a...
- + How AI could change the work of bank CEOs —Managing the CEO's AI could be a new responsibility of support staffers, experts say. [Category: Artificial intelligence , Technology ] [Link to med...
- + Former BaaS bank cited again by regulators —The Federal Reserve issued an enforcement action against Lineage Bank and its holding company, following a similar move by the Federal Deposit Insuran...
- + Fraud-fighting numberless credit cards look for a market —Not all banks and fintechs are on board with numberless cards, and some payment professionals question whether they are worth the cost. [Category: Pa...
- + Five trends to keep in mind as overdraft-fee battles heat up —While the Consumer Financial Protection Bureau seeks to cap overdraft fees, banks and credit unions are fighting the effort. Nuances that don't fit ei...
- + First Guaranty slashes dividend to just 1 cent a share —The Louisiana-based bank reduced its dividend to a penny, the second reduction it has made this year as it tries to bring down expenses and generate m...
- + Banks seek injunction to stop CFPB's $5 overdraft rule —Bank trade groups filed a motion for a preliminary injunction to stop the Consumer Financial Protection Bureau's $5 overdraft fee rule from going into...
- + As we integrate AI into banking, we must preserve our humanity —The integration of artificial intelligence into financial services demands a human-centered approach. This is both a moral obligation and a strategic ...
- + Fintech Chime submits confidential filing for IPO —The challenger bank aims to go public in 2025, according to people familiar with the matter. [Link to media]
- + First Commonwealth to acquire CenterGroup in Cincinnati —The Pennsylvania-based buyer said it would pick up nearly $350 million of assets and a commercial-focused loan portfolio as part of the $54.6 million ...
- + What fintechs and banks are doing differently post Synapse's collapse —Fintechs and their partner banks are keen to hold the industry to high standards of regulatory compliance in the interests of everyone's reputation. [...
- + OCC issues another 'comprehensive' order against USAA —For the third time in five years, the Office of the Comptroller of the Currency issued an enforcement action against the beleaguered bank. It bars USA...
- + Trump 'uncertainty' contributes to hawkish shift at Fed —The Federal Reserve lowered its policy rate but signaled a more "cautious" approach to future cuts in light of higher inflation expectations. Policy u...
- + SouthState's $2B bank deal, the year's largest, clears key hurdles —The Federal Reserve and OCC approved the company's plan to buy Independent Bank Group in Texas, putting the deal on track to close early next year as ...
- + Blue-chip companies ditch ESG terms in their loans —Companies are dropping sustainability-linked loans as they face a tougher regulatory environment. [Category: Industry News , JPMorgan Chase , Bank ...
- + Blue Chip Companies Are Ditching ESG Terms From Their Loans —Companies are dropping sustainability-linked loans as they face a tougher regulatory environment. [Category: Industry News , JPMorgan Chase , Bank ...
- + Big banks push global B2B payments —Morgan Stanley and ABN Amro tapped fintechs to improve cross-border transactions. That and a U.K. card fee cap highlight this week's roundup of paymen...
- + The Best of American Banker Magazine for 2024 —This year, American Banker reporters dove deep into topics such as gambling addiction, Citigroup's rebuild, the Small Business Administration, fraud...
- + 20 states with the highest rates of unbanked residents —When combined, the top five states have roughly 23.9 million households classified as unbanked according to the Federal Deposit Insurance Corp. [Categ...
- + It's time to reprioritize safety in banking as a service —We've seen what can happen when BaaS providers fail to adequately protect consumers. Across the industry, we need to institutionalize the principles o...
- + FDIC considers lawsuit against ex-SVB executives —The Federal Deposit Insurance Corp. is considering suing former Silicon Valley Bank executives over risk management decisions, imprudent dividends, an...
- + Politics, history, hubris: why agency consolidation isn't easy —Proposals to streamline U.S. banking regulators have resurfaced with the Trump administration's focus on efficiency, but experts and history suggest s...
- + CFPB targets card industry over the devaluation of rewards —As the Biden administration comes to a close, the agency called out "bait-and-switch tactics" by card issuers. It also announced a new tool allowing c...
- + PACE loan rules finally issued by CFPB —Six years after Pres. Trump signed Dodd-Frank reform, the Consumer Financial Protection Bureau issued rules bringing these loans under Truth-in-Lendin...
- + House Republicans warn banking agencies to pause rulemakings —Letters hint at more oversight of the banking agencies, as well as the Treasury Department, the CFPB and the Securities and Exchange Commission, under...
- + CFPB scrutinizes the role of credit cards in sports gambling —New bureau research digs into the fees that bettors get charged when they use credit cards to fund gambling accounts. [Category: Credit cards , Cons...
- + Banks could see an end to Chokepoint 2.0 in 2025 —The coming year will bring banks the ability to work with digital assets and crypto companies, according to speakers at American Banker's Cyber Risk S...
- + We're about to find out how populist Trump 2.0 really is —The populist strain that has long animated the left wing of the Democratic party seems to have migrated to the Republican center, benefiting President...
- + FDIC mulls blanket dividend restrictions in times of stress —Members of the Federal Deposit Insurance Corp. board of directors Tuesday debated Consumer Financial Protection Bureau Director Rohit Chopra's proposa...
- + Northwest Bancshares lands $270M acquisition in Pennsylvania —The Columbus, Ohio-based bank said its all-stock bid for Penns Woods Bancorp would expand its footprint and give it $1.7 billion of deposits and $1.9 ...
- + Northwest Bancshares lands $270 million acquisition in Pennsylvania —The Columbus, Ohio-based bank said its all-stock bid for Penns Woods Bancorp would expand its footprint and give it $1.7 billion of deposits and $1.9 ...
- + Flagstar to pay $3.5M for misleading about 2021 cyberattack —According to an order by the SEC, the bank negligently under-reported what it knew about a data breach and ransomware attack it suffered that year. [L...
- + Blue Ridge returns to community bank roots after failed fintech foray —Months of painful restructuring may be paying off as the Charlottesville, Virginia-based company reported a modest third-quarter profit after more tha...
- + Remittances cost too much and take far too long. We can do better. —Cross-border person-to-person payments are vital to the survival of millions of vulnerable people. Right now, fees eat away at their money, and slow p...
- + The banks that implement AI well, from titans to mavericks —Some banks are "punching above their weight," according to Dan Latimore, chief research officer at The Financial Revolutionist. Here's how they do it....
- + Is cash becoming extinct? —Myriad payment innovations are cutting into old-school cash payments, changing how funds are accessed, spent and received for purposes ranging from in...
- + CFPB's $5 overdraft rule presents populist challenge to GOP —There are many ways for the incoming administration to overturn the Consumer Financial Protection Bureau's final rule slashing overdraft late fees to ...
- + Synovus looks to add bankers amid stiff competition in the Southeast —The Georgia-based bank plans to hire 85 relationship managers over the next three years to support growth in commercial and middle-market lending and ...
- + The biggest data breaches of 2024 in financial services —Data breaches in 2024 exposed billions of records, impacting financial firms, banks and consumers alike. [Category: Cyber attacks , Cyber security ,...
- + Flagstar promotes Lee Smith to CFO —The bank ends the year with a substantially different profile from early 2024, which brought new leadership, a significant reduction to its mortgage o...
- + Berkshire, Brookline in $1.1B deal to create 'preeminent' Boston bank —The combination would create a Northeast regional bank with nearly $24 billion of assets. It would rank as the eighth-largest bank in the Boston metro...
- + Credit unions bought a record-breaking 20 banks in 2024 —The unprecedented number of deals came in a year when banks struggled to find merger partners in their markets. [Category: M&A , Credit unions ]...
- + 'Something great with crypto:' Trump affirms bitcoin reserve —The president-elect confirmed that he will pursue a strategic reserve of the flagship cryptocurrency as part of a broader push for the U.S. to champio...
- + Boston banks Berkshire, Brookline to merge in $1.1 billion deal —The combination would create a Northeast regional bank with nearly $24 billion of assets. It would rank as the eighth-largest bank in the Boston metro...
- + The banking industry should take the lead on modernizing regulation —If the Trump administration is really planning to trim back regulations on banking and financial services firms, the industry needs to get out in fron...
- + Stablecoin payment plays accelerate as 2024 closes —Ripple, MoneyGram and FV Bank all bolstered their ability to distribute digital assets, with cross-border transactions emerging as a primary use case....
- + Where the Fed's Michael Barr goes from here —Known as a pragmatic moderate before arriving at the Fed, Vice Chair for Supervision Michael Barr is now synonymous with an aggressive and divisive ap...
- + Flushing Financial's $70 million capital raise prompts sell-off in shares —The Long Island bank is the latest financial institution to use new equity to restructure its balance sheet and unload low-yielding assets. Its stock ...
- + BNPL lender Affirm inks fresh forward-flow deal with Sixth Street —Affirm partners with Sixth Street to sell its buy now/pay later loans to the investment firm; Associated Banc-Corp promotes Steven Zandpour to deputy ...
- + Conservative court's ruling is an omen about DEI under Trump —Banks will feel the fallout from a court's decision to strike down a Nasdaq rule that would have mandated more disclosure about the racial and gender ...
- + Upbound acquires Brigit, expanding financial solutions platform —Upbound currently focuses on lease-to-own products. Brigit will help it expand its offerings, but the fintech faced an FTC complaint last year. [Categ...
- + Trump wants to streamline bank regulation. Here's how he should do it. —We should consolidate federal oversight of the banking industry within the Office of the Comptroller of the Currency. It would rationalize a system th...
- + Dime in NY takes $43 million hit to unload underperforming securities —The bank said it redeployed proceeds from the sale into high-yielding investments. It also said it would end an employee pension plan to curb expenses...
- + Carver directors win reelection after controversial vote —A close result was complicated by an hour-long adjournment of the New York-based company's annual meeting that angered dissident investors and left th...
- + Elder abuse, AI deepfakes and TikToks: 2024's fraud trends —From mail theft to video games, a variety of trends shaped scams and fraud in 2024 — and made the schemes more expensive for everyone. [Category: Fra...
- + The open banking rule helps consumers. Why are banks against it? —An industry lawsuit seeks to undermine a rule put forward by the Consumer Financial Protection Bureau that would make it much easier for consumers to ...
- + Scotiabank to move forward with KeyCorp investment —The Canadian bank received approval from the Federal Reserve to increase its ownership stake in KeyCorp to up to 14.9%. The investment is expected t...
- + Consumers' debt struggles are easing as holiday spending ramps up —The post-pandemic increase in consumers falling behind on their credit card bills seems to be tapering off. "For 2025, we're seeing a lot of stability...
- + Scotiabank gets Fed approval to be KeyCorp's largest shareholder —The Canadian bank received approval from the Federal Reserve to increase its ownership stake in KeyCorp to up to 14.9%. [Category: Growth strategie...
- + Ex-OCC head: Expect 'radically different' regulators —Brian Brooks, former acting Comptroller of the Currency in the first Trump administration and advisor to the President-elect's transition team, said n...
- + Ex-OCC head: expect 'radically different' regulators —Brian Brooks, former acting Comptroller of the Currency in the first Trump administration and advisor to the President-elect's transition team, said n...
- + French Hill named chairman of House Financial Services Committee —The Arkansas Republican pledges to reduce excessive regulation and align financial policies with GOP goals. [Category: Politics , Regulation and com...
- + UnitedHealthcare's AI missteps a cautionary tale for banks —Numerous reports and lawsuits have criticized the health insurer for using algorithms to ramp up denials of coverage. [Link to media]
- + Banks sue CFPB for capping overdraft fees at $5 —The Consumer Financial Protection Bureau issued a final rule that would allow banks to either charge $5 for overdraft fees. Alternatively they can cha...
- + How 'Uberization' drives embedded payments —Execs from U.S. Bancorp and Key bank discuss how emerging technology makes it easier to replicate the near invisible checkout that car-sharing ride...
- + A small upstate New York bank sees big growth potential in the Bronx —Orange Bank and Trust in Middletown says it will operate as a boutique commercial bank, focusing on small business, nonprofits and the borough's sizzl...
- + A small Upstate New York bank sees big growth potential in the Bronx —Orange Bank and Trust in Middletown says it will operate as a boutique commercial bank, focusing on small business, nonprofits and the borough's sizzl...
- + FDIC highlights stability amid CRE issues in banking report —The Federal Deposit Insurance Corp.'s Q3 Quarterly Banking Profile report highlighted net bank income falling 8.6%, but also showed slow delinquency g...
- + Small banks risk losing ground in business credit cards —Banks that don't focus on credit cards for this market may find larger banks and fintechs are eating their lunch. [Category: Payments , Small busine...
- + Walmart's fintech hits $2.5 billion value; an omen for banks —Walmart is pouring more firepower into its fledgling financial venture, signaling its ambition to wade deeper into financial services. [Category: Fin...
- + DOJ's antitrust lawsuit against Visa is misguided —The Department of Justice is trying to fix a system that isn't broken. The better move would be to allow the ruthlessly competitive payments marketpla...
- + TD faced the U.S. hammer. Now its Canadian compliance gets a revamp. —After the Toronto-based bank faced record penalties in the U.S., it made new disclosures about its anti-money-laundering compliance obligations in Can...
- + CFPB caps overdraft fees at $5 as banks mull options —The Consumer Financial Protection Bureau issued a final rule that would allow banks to either charge $5 for overdraft fees or a courtesy fee that cove...
- + CFPB caps overdraft fees at $5 without APR disclosure —In a final rule to be released Thursday, the Consumer Financial Protection Bureau would allow banks to either charge $5 for overdraft fees or another ...
- + A third ex-TD Bank employee is charged in money-laundering scheme —Leonardo Ayala, who was a retail banker at a TD branch in Florida, faces criminal charges in connection with money-laundering activities. [Category: ...
- + Tesla pushes real-time payments adoption into the fast lane —About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why ...
- + Real-time payments in the fast lane: Tesla pushes adoption in auto finance —About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why ...
- + Apple Pay's EU antitrust compromise spurs rivals —Norwegian fintech Vipps' consumers can use iPhones to make digital payments following Apple's settlement with regulators. Klarna gets hit with a money...
- + Patriot National in Connecticut mulls sale —The bank has hired an advisory firm to assess a potential sale, a capital raise or a strategic partnership after a prior merger fell through. [Categor...
- + FDIC Inspector General finds gaps in resolution readiness —A report by the Federal Deposit Insurance Corp.'s Office of Inspector General revealed deficiencies in the FDIC's preparedness for large bank failures...
- + CFPB's Chopra says he won't resign, but he will leave —In testimony before the Senate Banking Committee Wednesday morning Consumer Financial Protection Bureau Director Rohit Chopra said that he has no plan...
- + How banks can protect the data they feed their AI models —Financial institutions are adopting AI technology into virtually every aspect of the business. Analysts and fintechs share a framework for protecting ...
- + Wells Fargo gets its first nonbranch employee union —Workers in the bank's conduct management intake group joined colleagues at 23 Wells Fargo branches in approving a union. [Category: Workforce manag...
- + Wells Fargo gets its first non-branch employee union —Workers in the bank's conduct management intake group joined colleagues at 23 Wells Fargo branches in approving a union. [Category: Workforce manag...
- + Private credit is not just safe; it's vital to the US economy —Misconceptions about the risks of private credit must not be allowed to affect important policy decisions about an industry that provides vital suppor...
- + Treasury nominee to meet with senators —Scott Bessent, President-elect Donald Trump's pick to serve as Treasury secretary, is aiming to build support for his nomination [Category: Tax , Tr...
- + Bessent to meet Senators as he preps for Treasury Secretary vote —Republicans seek to pass sweeping legislation that renews Trump's 2017 tax overhaul and eliminates taxes on tips, overtime pay and Social Security ben...
- + Inflation proves sticky, clouding Fed policy outlook —Annualized inflation increased to 2.7% in November from 2.6% the previous month, providing further evidence that the economy remains strong despite re...
- + International banks stumble in Q4 earnings amid credit hurdles —Institutions like BMO Financial Group and Bank of Nova Scotia saw earnings bogged down by increased loan loss provisions and higher tax rates. [Catego...
- + Trump could bypass Democratic picks for FDIC Board —President-elect Donald Trump may opt to bypass Democratic suggestions for minority party seats on the Federal Deposit Insurance Corp.'s board of direc...
- + What big-bank CEOs are expecting — good and bad — from Trump 2.0 —The top executives at some of the nation's largest banks spoke Tuesday about their expectations for the second Trump administration. Deregulation, cap...
- + Why a virus-protection firm is paying $1 billion for MoneyLion —The merger pairs the fintech's consumer lending platform with Gen Digital's identity-protection services, such as Norton, LifeLock and ReputationDefen...
- + Synapse saga: Evolve Bank answers Yotta lawsuit —The bank suggests it's a scapegoat for Synapse's wrongdoing in a case of banking-as-a-service gone awry. [Category: Fintech , Technology ] [Link to ...
- + You can't stop debanking without changing banking —Allegations of regulators pressuring banks to drop clients and customers because of political views or ties to legal-but-disfavored industries have sp...
- + 25 people who will change banking in 2025 —From Donald Trump to Gunjan Kedia, Jerome Powell to Jamie Dimon, here are the people who will impact the industry this year (including Taylor Swift). ...
- + Inflation in focus as bank investors ponder Fed's next move —A slower rate of price increases would boost the likelihood of an interest-rate cut that could expand loan demand and lower banks' deposit costs. A hi...
- + How community bank 'mavericks' compete in AI space —Some smaller banks are punching above their weight when it comes to being AI-savvy, industry observers say. [Category: Artificial intelligence , Tec...
- + Restructuring means near-term pain, long-term gain for First Hawaiian —The Honolulu-based bank is taking a $19.7 million pretax loss to rid its balance sheet of low-yielding investments. It joined a parade of banks that h...
- + Restructuring means near-term pain, long-term gain for First Hawaiian —The Honolulu-based bank is taking a $19.7 million pretax loss to rid its balance sheet of low-yielding investments. It joined a parade of banks that h...
- + Virus-protection firm buys MoneyLion in $1 billion deal —The merger pairs the fintech's platform with Gen Digital's identity-protection services, such as Norton, LifeLock and ReputationDefender. [Category: ...
- + Open banking is here, but consumers need to know why it matters —The industry should rally behind the Financial Data Exchange, which has stepped up to help develop standards and governance protocols for open banking...
- + CFPB has a new tool to examine customer service at banks —A new question field on the Consumer Financial Protection Bureau's consumer complaint form is tied to an advisory opinion on customer service related ...
- + Judge strikes blow to CFPB's $8 credit card late fee rule —U.S. District Judge Mark T. Pittman wrote that trade groups that sued the Consumer Financial Protection Bureau earlier this year "are likely to succee...
- + Hanmi seeks higher profile in Seoul to drive U.S. growth —Banking South Korean companies has become a major pillar of the Los Angeles-based Hanmi's balance sheet, with a portfolio of loans approaching $1 bill...
- + Google sues CFPB, challenges oversight of retired product —The company said the P2P payment service the bureau seeks to supervise presents no risk to consumers because it is no longer offered in the U.S. [Cate...
- + Consumer group urges FDIC to publicly release failed-bank probes —Americans for Financial Reform wants investigations into the directors and executives of Silicon Valley Bank, Signature Bank and First Republic Bank r...
- + Wells Fargo union organizers eye first win at nonbranch unit —The unionization push by members of the bank's conduct management intake team has been hotly contested. If approved, it would represent a landmark in ...
- + Union organizers inside Wells Fargo eye first victory at a nonbranch unit —The unionization push by members of the bank's conduct management intake team has been hotly contested. If approved, it would represent a landmark in ...
- + Union organizers inside Wells Fargo eye first victory at a non-branch unit —The unionization push by members of the bank's conduct management intake team has been hotly contested. If approved, it would represent a landmark in ...
- + 4 reasons banks are unlikely to make Synapse end users whole —Customers of fintechs affected by Synapse's bankruptcy have been waiting since May for money they had in their accounts, and $65 million to $85 millio...
- + Independent Bank in Massachusetts to acquire peer for $562M —The cash-and-stock bid for Enterprise Bancorp is expected to close in the second half of 2025. In connection with the deal, Independent plans to raise...
- + Trump should be thanking Jerome Powell for his second term —The chairman of the Federal Reserve presided over the worst inflation in 40 years, generating public outrage that paved the way for Donald Trump's vic...
- + Banks tackle Q3 hurdles, look to Q4 for earnings growth —The Federal Reserve's interest-rate cut came too late in the third quarter for banks to capitalize on. Leaders say the fourth quarter will yield bette...
- + How many credit unions acquired banks in 2024? —The trend of credit unions buying banks is a lightning rod for controversy in the banking industry. Despite this, such mergers are increasingly common...
- + Inside Tanya Otsuka's historic NCUA role and regulatory vision —The first Asian American to join the National Credit Union Administration board, Otsuka has had a career highlighted by consumer advocacy, a focus on ...
- + Inside Tanya Otsuka's historic NCUA role and regulatory vision —The first Asian American to join the National Credit Union Administration board, Otsuka has had a career highlighted by consumer advocacy, a focus on ...
- + How bank deals are likely to fare with Trump's antitrust pick —The industry hopes that the bigger hurdles to bank mergers under President Biden will fade in the new administration. But populist opposition to conso...
- + CFPB places Google's payments arm under federal supervision —The Consumer Financial Protection Bureau said that, although the Google Pay app has been discontinued, the bureau can make the determination based on ...
- + CFPB lawsuit is just the latest regulatory headache for Comerica —The Dallas-based bank has a growing list of legal and regulatory issues — some of them connected to its role in a U.S. government benefits program, an...
- + Banks offer scam advice in time for the holidays —The holiday season presents online shopping and charity scam risks, and this year presents a novel threat of AI-assisted fraud. Here's how banks are h...
- + Unity Bank in Clinton, NJ, goes electric with EV charging stations —Unity Bank in Clinton, NJ, now offers EV charging stations in a collaboration with Encore Energy Group; fintech Beneficient announced its agreement to...
- + Industry leaders optimistic about AI and crypto czar David Sacks —With a business-friendly crypto and AI overseer, observers expect a softer government approach to tech projects and partnerships. [Category: Artifici...
- + Harper's warning on vendors should spur credit unions to act —While it's true that the National Credit Union Administration needs the authority to regulate third-party vendors, credit unions themselves have consi...
- + Goldman Sachs exits climate alliance for banks —Goldman will no longer be a member of the Net-Zero Banking Alliance, a decision largely motivated by a need to comply with mandatory reporting guidel...
- + FSOC flags commercial real estate, cyber and stablecoins —The Financial Stability Oversight Council's annual report underscores mounting challenges in commercial real estate, escalating cyber threats, and reg...
- + Fed's Bowman: Regulators 'have not stepped up' to stop fraud —Federal Reserve Gov. Michelle Bowman said Friday that regulators — chief among them the Fed itself — need to do more to combat check fraud, particular...
- + CFPB sues Comerica over abuses of federal benefits users —The Consumer Financial Protection Bureau has asked a Texas court to halt Comerica Bank's practices. [Category: Regulation and compliance , CFPB Ne...
- + Why banks are closing branches faster as M&A returns —Net closings rose to the highest quarterly level in nearly three years. As M&A rebounds, banks are also trimming their physical footprints as cust...
- + Why the torrid pace of branch closings has cooled —Banks continued to downsize their retail networks and invest more in digital services last year. But they shut down fewer branches in 2023 than in rec...
- + It's time for banks to give small-dollar lending a second look —There is a major opportunity out there, especially for community banks, to displace predatory lenders and earn a healthy return at the same time. It's...
- + Labor growth rebounds, Fed rate cut remains likely —After hurricanes and strikes stalled job growth in October, the economy added 227,000 jobs in November. [Category: Federal Reserve , Politics and po...
- + What Fiserv's Bisignano can change if he's the Social Security boss —The long-time bank and financial services technology executive has a record for cutting costs and supporting rapid automation, skills that could be pu...
- + Nebraska neobank envisions bridge between banking and crypto —Telcoin is seeking to become the first chartered bank under Nebraska's Digital Asset Depository Institutions regime. Its CEO believes it can become a ...
- + Associated expects asset sale to boost its profitability in 2025 —The Green Bay, Wisconsin-based bank will record a fourth-quarter loss after agreeing to sell $3 billion of low-yield loans and mortgages. The moves le...
- + HSBC names latest US leader as new CEO makes his mark —Lisa McGeough will be heading the global bank's U.S. operations. It's just the latest change at HSBC since Georges Elhedery took the reins in Septem...
- + The bank regulatory items that are open for public comment —These regulatory announcements in the banking industry are currently open to public comment. [Category: Regulation and compliance , Federal Reserve ...
- + Tariffs spell end to rate cuts —Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates. [Category: P...
- + 'Everything is on the table': TD seeks ways to steady the ship —The Toronto-based bank suspended its medium-term growth targets and announced a full-scale review of its strategies following historic anti-money-laun...
- + CFPB disburses $1.8 billion to victims of credit-repair scheme —The Consumer Financial Protection Bureau is giving the funds to more than 4.3 million consumers harmed by a defunct credit-repair conglomerate, the la...
- + Trump nominates former Georgia senator to head SBA —Kelly Loeffer would lead an agency that is critically important to community banks, which make tens of billions of dollars in loans annually under its...
- + BMO's credit woes remain a headache —The Toronto-based bank set aside CA$1.5 billion in its fiscal fourth quarter to cover potentially bad loans. Executives say higher-than-normal impaire...
- + Great Southern loan officers use gen AI to 'chat' with data —A bot from nCino lets people in the commercial lending department quickly find information in loan documents and in policy manuals that are hundreds o...
- + How U.S. Bank's travel plans feed its payments business —A collaboration with Booking.com is designed to encourage consumers to use the bank to manage airline tickets and hotels, a lucrative market that's dr...
- + President-elect Trump should declare a ceasefire in the war on credit —Under the Biden administration, a trio of regulatory agencies have teamed up to limit consumers' access to credit. The incoming administration should ...
- + TD steadies the ship in start of new era —The Toronto-based bank missed analyst expectations in its first quarterly results since it pleaded guilty to historic money-laundering-related crimes....
- + BMO reports surge in provisions, higher earnings —The Toronto-based bank's provisions for credit losses totaled CA$1.5 billion during its fiscal fourth quarter, more than three times what it set aside...
- + New CEO sets path for Carver amid proxy clash —Donald Felix, who spent a quarter century at some of the nation's largest banks, took the helm at Carver Bancorp last month. Felix is devising a plan ...
- + How SEC chair nominee Atkins could shape housing policy —Paul Atkins, a noted critic of the Consumer Financial Protection Bureau, will join the Financial Stability Oversight Council, where he will play a rol...
- + Trump nominates Fiserv's Bisignano for Social Security Administration —President-elect Donald Trump is nominating Frank Bisignano, the chief executive officer of fintech and payments company Fiserv Inc., to be the commiss...
- + TCH ups real-time payments limit; Mastercard's $254 million settlement —The Clearing House increased its transaction limit from $1 million to $10 million; Mastercard settled a card fee lawsuit; and other news from the worl...
- + TCH's real-time payments can be larger; Mastercard to pay $254 million UK settlement —The Clearing House increased its transaction limit from $1 million to $10 million; Mastercard settled a card fee lawsuit; and other news from the worl...
- + Powell dismisses notion of 'shadow' Fed chair —The Federal Reserve chair is not concerned about President-elect Trump nominating his successor well in advance of the end of his term in 2026, saying...
- + Regulators remind banks how to fight elder fraud —The FDIC, OCC, NCUA and Fed each signed onto a letter that detailed strategies for mitigating financial crimes against older Americans. [Category: El...
- + RBC's City National Bank shows early signs of revival —The Los Angeles-based subsidiary of Royal Bank of Canada posted its strongest performance in six quarters. [Category: Earnings , RBC ] [Link to medi...
- + Texas court halts enforcement of Corporate Transparency Act —A federal judge in Texas has blocked the enforcement of the Corporate Transparency Act, a key U.S. anti-money laundering law that would require compan...
- + Patrick McHenry punts AI legislation to next Congress —Rep. French Hill, R-Ark. — one of the leading contenders to chair the House Financial Services Committee next year — focused on 'debanking' of crypto ...
- + Citigroup faces $26 million in losses on Australian block trade —The U.S. bank was unable to fully sell a block of shares in Australia's Goodman Group it had underwritten for China's sovereign wealth fund. [Category...
- + RBC's City National shows signs of revival —The Los Angeles-based subsidiary of Royal Bank of Canada posted its strongest performance in six quarters. [Category: Earnings , RBC ] [Link to medi...
- + Wells Fargo to sell San Francisco headquarters, stay in city —The building at 420 Montgomery St. could be put on the market as soon as this month, the Wall Street Journal reported. [Category: Industry News , We...
- + Your AI credit models are fine, but their training data is problematic —Artificial intelligence systems built to assess creditworthiness are trained on data that implicitly accepts past discriminatory lending decisions as ...
- + Rise of low-cost accounts fuels decline in unbanked rate —The availability and visibility of Bank On-certified accounts, which aim to expand banking access, is contributing to a decrease in the percentage of ...
- + Rise of low-cost accounts fuels decline in the unbanked population —The availability and visibility of Bank On-certified accounts, which aim to expand banking access, is contributing to a decrease in the percentage of ...
- + 10 largest banking fintech equity deals of Q3 —The three largest deals had an average round amount of more than $121 million. [Category: Fintech , Banking ] [Link to media]
- + Donald Trump Jr. joins PublicSquare board of directors —Shares of PSQ Holdings nearly quadrupled Wednesday as Wall Street reacted to the fledgling payment company's appointment. [Category: Payments , Digi...
- + Lake Shore Savings freed from breach-related consent order —The order stemmed from a cybersecurity breach in 2022. The Office of the Comptroller of the Currency also lifted the bank's "troubled condition" statu...
- + Insider fraud and AI threats top forecasts of 2025 cybercrime —In a report Tuesday, credit bureau Experian predicted that government identity systems could get an update in the coming year. Here's what else could ...
- + Small Virginia bank optimistic it will avoid delisting —Primis Financial had to delay several reports to the SEC due to an accounting misclassification error, which raised the possibility that the bank's st...
- + Small Virginia bank optimistic that it will avoid delisting —Primis Financial had to delay several reports to the SEC due to an accounting misclassification error, which raised the possibility that the bank woul...
- + Fed's Kugler: Immigration, productivity behind strong economy —Federal Reserve Gov. Adriana Kugler credited immigration and rising productivity for the U.S. economy's resilience while emphasizing vigilance against...
- + Letting crypto loose is a mistake banks will watch happen —President-elect Trump's embrace of cryptocurrency and decentralized finance is a political gambit that has already paid off. But greenlighting crypto'...
- + United Community strikes sixth M&A deal in as many years —The Greenville, South Carolina-based company said it would pay $80 million in stock to acquire ANB Holdings and its Miami-area bank. [Category: M&...
- + Scotiabank misses on expenses, takes charge for Chinese bank —The Canadian bank fell short of analysts' expectations on non-interest income partly because of a higher-than-anticipated tax rate. Scotiabank's resul...
- + Banks need to reclaim their position at the center of the BaaS model —The demand for embedded finance is not going away, but the initial rollout of banking as a service relied far too much on middleware providers without...
- + The case for having a human crime officer in every bank —Ian Mitchell, founder of The Noble, an organization that works with law enforcement and with banks to fight human crime trafficking, explains some of ...
- + 20 US banks that closed the most branches in Q3 —The top five banks in this list closed a net total of 175 branches in the third quarter. [Category: Banking , Consumer banking , Commercial banking...
- + CFPB proposal would subject data brokers to FCRA rules —The Consumer Financial Protection Bureau issued a proposal to protect consumer data privacy and categorize data brokers that sell sensitive consumer d...
- + WSFS sues over signage that plunged 500 feet to the ground —The Delaware-based bank filed a complaint against two companies that built a WSFS logo display in downtown Philadelphia. Part of the signage eventuall...
- + Fed official calls for simpler, forward-looking monetary framework —Federal Reserve Gov. Christopher Waller said the central bank's last framework review was too focused on the post-global financial crisis period and d...
- + Fed's Waller leaning toward rate cut but open to a 'skip' —Federal Reserve Gov. Christopher Waller, a Trump appointee, said that while recent inflation readings are concerning, monetary policy would remain res...
- + Where did the money go? Latest from Synapse bankruptcy, Evolve —Banks have been returning some funds to fintech customers affected by the Synapse collapse, but a multimillion-dollar discrepancy between how much Syn...
- + Bipartisan AI bills offer starting point for next Congress —The two bills would require banking agencies to study artificial intelligence and its application in the banking sector, and would codify findings fro...
- + Payments at the end of 2024: Lots of cliffhangers —As 2024 comes to a close, trends such as open banking, fights over credit card fees and the future of faster payments are still in flux. [Category: P...
- + Community banks promote, recruit top executives in November —Several companies filled leadership posts throughout the country, including Clarion County Community Bank's hiring of Travis Heiser to become its CEO....
- + Generative AI is a powerful tool for improving financial literacy —The technology has the potential to democratize access to knowledge about financial services, but like any tool, it must be used carefully and respons...
- + Citi splits Mexico business with 93% of staff headed for IPO —Citigroup now operates Grupo Financiero Citi México and Grupo Financiero Banamex in Mexico. The New York-based bank is planning an initial public o...
- + Banks cautiously optimistic about Bessent pick for Treasury —Wall Street has cheered President-elect Trump's selection of Scott Bessent to lead the Treasury because of his moderating influence and expertise, but...
- + Tech-driven efficiency is not the proper goal for branch banking —As the banking industry becomes increasingly technology-dependent, wise bank leaders recognize that a bank is not solely defined by its buildings, tec...
- + Trump's fintech effect, VyStar tech woes: Top tech news November 2024 —Items include estimations of President-elect Donald Trump's impact on fintech funding, the fallout from VyStar Credit Union's tech moves and more. [Ca...
- + The US should look to Brazil as a model for rolling out open banking —The U.S. is well behind other countries in implementing open banking and delivering its benefits to customers. Brazil's success in that area can serve...
- + Racquel Oden's unique path to the top: The Climb —Oden, head of U.S. wealth, private banking, asset management and premier banking at HSBC , was one of the first in the industry to build an online we...
- + Canadian regulators launch review of sales practices in bank branches —The inquiry by securities regulators came in response to reporting that bank employees pushed products in ways that misled customers as they sought to...
- + Elon Musk wants to 'delete' the CFPB. Could he? —The Consumer Financial Protection Bureau has long been a target for conservative ire, but dismantling it would require Congress' cooperation. [Categor...
- + What GOP control of Washington means for Sallie Mae loans —The company's stock price has jumped 23% since the election, as investors bet that federal student loans will get curtailed, providing more opportunit...
- + Will GOP control of Washington drive more student loans to Sallie Mae? —The company's stock price has jumped 23% since the election, as investors bet that federal student loans will get curtailed, providing more opportunit...
- + Newtek hopes to cap bank conversion with zero-fee checking account —The Boca Raton, Florida company is seeking to attract deposits with a product that more closely resembles the strategy many fintechs typically employ....
- + Musk calls for abolishing consumer agency GOP has long targeted —"Delete CFPB. There are too many duplicative regulatory agencies," Musk wrote in a post on X. [Category: CFPB News & Analysis , Industry News ] ...
- + U.S. Bank promotes Carstensen; BNPL gets a boost for the holidays —Buy now/pay later firms launched new products and announced new operational strategies this week as they prepare for an expected increase in demand th...
- + USAA missteps, CFPB's last hurrah: Top banking news November 2024 —November's roundup includes consumer doubts plaguing the reputation of USAA, reviews of the Consumer Financial Protection Bureau's actions and more. [...
- + Climate First Bank's Ken LaRoe is still bullish on climate tech —The founder of a bank whose mission is to reduce atmospheric carbon dioxide is undaunted by the prospect of a more fossil-friendly Trump administratio...
- + Chase and other megabanks aren't — and never will be — community banks —"Too big to fail" banking giants like to masquerade as community banks when it suits their purposes, but they will never be able to replace real, loca...
- + Mountain America exits New Mexico with branch sale —The Sandy, Utah-based credit union opted to part with its two New Mexico branches to focus on other geographies. At least one expert expects an uptick...
- + Mountain America exiting New Mexico with branch deal —The Sandy, Utah-based credit union said it opted to part with its two New Mexico branches to focus on other geographies. At least one expert expects a...
- + Bank regulators have concepts of a plan to deal with AI —In a string of speeches last week, the top federal banking regulators outlined goals and framed their thinking about artificial intelligence in financ...
- + It's a small world: Why payment companies are targeting SMBs —Micro-, small- and medium-sized businesses have traditionally been a tough nut to crack when it comes to serving up actionable insights. Payment data ...
- + Why community banks are struggling to expand loan portfolios —Median growth among small U.S. lenders was 1.2% for the third quarter. Bankers are hoping lower interest rates will boost demand, but borrowers aren't...
- + 'Human crimes is a blind spot': How banks can nab felons —The Knoble, a nonprofit that brings banks, credit unions, payment networks and law enforcement together to detect elder and child exploitation and hum...
- + US bank robberies at new low —Banks like Fifth Third have increased security measures at their branches, while some potential robbers are turning to cybercrime. [Category: Branch ...
- + NCUA has a regulatory blind spot; Congress must act to eliminate it —The National Credit Union Administration lacks the authority to regulate third-party vendors that supply vital services to the industry. This creates ...
- + Trump's immigration plan likely to impact housing —The president-elect had billed his hardline stance on the border and promised deportations as a solution to tight housing markets. Experts say those p...
- + California bank regulator to retire —California Department of Financial Protection and Innovation Clothilde "Cloey" Hewlett will step down Dec. 30. [Category: Politics and policy , Cali...
- + How Citi, BNP Paribas and Schwab migrated to T+1 securities settlement —Industry observers say the U.S. securities industry's migration to next-day settlement in May 2024 was a technology success story, which has encourage...
- + What banks need to know as QR code payments gain steam in the U.S. —The use cases are growing and banks don't want to risk being left behind, especially with younger customers who are more open to the technology. [Cate...
- + Bremer deal adds 'crown jewel' to Old National's Twin Cities plan —St. Paul, Minnesota-based Bremer Financial agreed to sell for $1.4 billion in cash and stock. It followed a yearslong legal battle between the bank an...
- + Exclusive: Reps. Barr and Hill press FDIC on brokered deposits rule —Reps. Andy Barr, R-Ky., and French Hill, R-Ark., leading Republicans on the House Financial Services Committee, pushed back against Federal Deposit In...
- + Banks have an obligation to plan ahead for natural disaster relief —Natural disasters are becoming more frequent and more severe, and victims will always require support from their banks. A plan for delivering that sup...
- + Citi bonuses buy time for new wealth boss's revamp —Andy Sieg, head of Citi's wealth business, says retention bonuses are part of his growth strategy. [Category: Investment banking , Citigroup , We...
- + Old National to acquire Bremer Financial, bulk up in Twin Cities —St. Paul, Minnesota-based Bremer Financial agreed to sell for $1.4 billion in cash and stock. It followed a years-long legal battle between the bank a...
- + Cyberattacks tend to increase during holidays, experts warn —While companies tend to amp up warnings to consumers about fraud and scams during the holidays, institutions may also need to bulk up their defenses. ...
- + 20 community banks with the highest returns on average assets —The top five community banks averaged a return on average assets of 6.27% as of June 30. [Category: Community banking , Banking , Industry News ] [...
- + Bessent to be Treasury nominee, Trump taps Turner for HUD —Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will ...
- + Trump picks NFL veteran Scott Turner to lead HUD —Turner served as executive director of the White House Opportunity and Revitalization Council previously. [Category: Donald Trump , HUD ] [Link to m...
- + Fed's Bowman: Regulators 'must have an openness' to AI —While the risks, benefits and magnitude of artificial intelligence's impact on financial services remain unclear, agencies should keep an open mind to...
- + First Foundation's new CEO has history of priming banks to sell —The Dallas bank's new CEO, Thomas Shafer, served in top roles at a number of banks that were subsequently acquired before he stepped away from the ind...
- + Fed: Elevated asset valuations could threaten financial stability —In its latest financial stability report, the Federal Reserve warned high equity valuations and low levels of liquidity could leave the financial syst...
- + Ally Financial weighs sale of credit card business —A sale would mark a swift retreat from the intensely competitive credit card business, where Ally competes with giant players such as Capital One. [Ca...
- + A small-dollar business lending scheme finds a niche at Huntington —The Columbus, Ohio-based regional launched Lift Local Business in October 2020 with a $25 million ceiling. Four years and $133 million later, the prog...
- + JPMorgan Chase, Mastercard sell crypto-style B2B payment tech —The bank and payment company are using the technology that underpins digital assets to improve interoperability for international transactions, a majo...
- + Fed announces details of 2025 monetary policy review —The Federal Reserve released additional information about its periodic review of its monetary policy strategy, tools and communications framework; TD ...
- + Bank executives must manage culture risk, Canada regulator says —Canada's banking regulator is beefing up its rules on corporate culture, saying that it expects executives and boards to be accountable. [Category: I...
- + First Foundation hires outsider as CEO amid strategy overhaul —The Dallas bank is replacing longtime CEO Scott Kavanaugh, who stepped down Thursday, with veteran banking executive Thomas Shafer. Shafer previously ...
- + FedNow saw $17.5 billion of transactions last quarter —The Federal Reserve released the volume of activity on its instant payments network since its launch last summer, showing a surge in usage between Jul...
- + Punishing workers who send remittances overseas is bad policy —A punitive tax on payments sent overseas to the families of immigrants would have a cascading set of consequences — all of them bad. [Category: Polit...
- + Fintech Sunbit seeks BNPL distinction in co-branded cards —The niche buy now/pay later firm is looking for differentiation in a crowded market with recognizable brands like Klarna, Affirm and Afterpay. [Catego...
- + Inside BNY's plans to upgrade Eliza, its generative AI platform —The 2.0 version, expected to launch next year, will provide more detailed responses based on more complex, humanlike thought processes. [Category: Ar...
- + Finastra client files stolen in data breach —The breach, which occurred earlier in November, did not directly impact customer operations, but a threat actor stole data meant for customers. [Categ...
- + Truist commits $725 million to help western N.C. rebuild after Helene —The North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western par...
- + Truist commits $725 million to help Western N.C. rebuild after Helene —The North Carolina-based bank rolled out a multiyear program to provide loans, investments and philanthropic support to communities in the western par...
- + CFPB's Chopra: AI can be the key to fairer credit scoring —Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market compet...
- + Trump 2.0 and other catalysts for bank stocks in 2025 —Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan los...
- + Gensler to step down from SEC in January —The SEC chair's ambitious agenda drew fierce resistance from Wall Street and the crypto industry. [Category: Accounting , SEC , SEC enforcement ] [...
- + BNY gains Treasury's Direct Express benefits contract —The contract gives the nation's oldest bank access to more than $3 billion in deposits a month. Comerica, the current administrator, has received a th...
- + Ex-CEO of failed Kansas bank banned from banking —The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling ...
- + OCC's Hsu: Banks and regulators should 'co-learn' about using AI —Acting Comptroller of the Currency Michael Hsu said that while artificial intelligence is a potentially transformative technology, regulators should b...
- + Elon, are you listening? Point DOGE at the Home Loan banks —Existing efforts to reform the Federal Home Loan Bank System may look dead on arrival in a Trump administration, but the proposed Department of Govern...
- + Custodia battens down hatches as it awaits Trump crypto pivot —The embattled crypto bank announced that it will reduce operations and move to preserve capital after losing its banking partner earlier this month. [...
- + 'Fundamental breakdown': How USAA landed in regulators' hot seat —Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long custome...
- + CFPB finalizes rule to supervise some Big Tech firms —The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firm...
- + Ally's new CEO starts reassembling its team of top executives —A new chief risk officer was among the appointments announced Wednesday, as CEO Michael Rhodes began to put his imprint on Ally. [Category: Consumer ...
- + Fed's Bowman: Chevron reversal will 'positively' change rules —The Federal Reserve governor said the Supreme Court ruling could bring needed transparency and efficiency to regulatory policymaking. [Category: Fede...
- + What the Trump administration will mean for wealth managers —Whoever is named SEC chair by the president-elect is likely to take a lighter hand on crypto, AI and "regulation by enforcement." [Category: Financia...
- + Five Washington insiders on fintech during Trump's second term —Sen. Mike Rounds, Rep. French Hill and former FDIC Chair Jelena McWilliams were among the speakers Tuesday at the American Fintech Council's Policy Su...
- + Regulators to pause major proposals until Trump takes office —In a congressional hearing, top officials from the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency said...
- + PayPal expands stablecoin; Barclays pivots from merchant acquiring —The payment company is using its Xoom transfer app to bring PYUSD to a broader market; while Barclays is reportedly in talks with Brookfield Asset Man...
- + How AI is helping banks humanize their call centers —As banks continue investing in technology to boost productivity, they aren't losing sight of their call centers' human sides. Even as AI grows in impo...
- + How AI is helping banks put a more human face on their call centers —As banks continue investing in technology to boost productivity, they aren't losing sight of their call centers' human sides. Even as AI grows in impo...
- + 'This predatory business model is illegal': EarnIn sued by D.C. AG —The fintech's Cash Out product charges the equivalent of 300% interest, the Attorney General alleged. [Category: Industry News , CFPB News & Ana...
- + 'This predatory business model is illegal': Earnin sued by D.C. AG —The fintech's Cash Out product charges the equivalent of 300% interest, the Attorney General alleges. [Category: Industry News , CFPB , Fintech , ...
- + Former Fed supervisor pleads guilty to insider trading —Robert Thompson was charged with using nonpublic information about New York Community Bank and Capital One to execute stock trades. His guilty plea co...
- + The CFPB's 'open banking' rule is a solution in search of a problem —Banks solved the issue of consumer data sharing years ago. Why is the Consumer Financial Protection Bureau stepping in now, with a rule that could mak...
- + Why Visa's making it easier to access a credit card alternative —By adding Affirm, major now/pay later partner, to its Flexible Credential, the payment network is deepening its embrace of a popular product that's no...
- + 'Abuse boxes' and other methods banks can use to counteract phishing —The five-part framework suggests both technical and governance solutions to protect consumers from losing money to scammers and fraudsters. [Category:...
- + Kansas banks runs afoul of money laundering standards again —Small Business Bank in Lennox, Kansas received another cease-and-desist order from the Federal Reserve for failing to comply with anti-money launderin...
- + Why banks' office loan troubles may soon fade —Lower borrowing costs, reduced exposure to the urban office sector and flattening vacancy rates could collectively save lenders from beleaguered corne...
- + FirstSun's HomeStreet deal is off. What happens now? —The companies held out hope that they'd get skeptical regulators to sign off on their $286 million deal before determining that canceling it was in th...
- + Republicans to Visa and Mastercard: Figure it out, or we will —In a Senate Judiciary hearing Tuesday morning, some Republican lawmakers signaled openness to joining their Democratic counterparts in supporting the ...
- + KeyBank expands commercial banking to Chicago and Southern California —The Cleveland-based bank now has commercial lending teams in both markets, including a team it recently hired away from Huntington Bancshares. [Catego...
- + Troubled Texas bank gets another wrist-slap from regulators —Industry Bancshares has been bogged down for years with unrealized losses. The Federal Reserve issued a cease-and-desist order against the firm, follo...
- + FDIC chair Martin Gruenberg to step down in January —Gruenberg, the Federal Deposit Insurance Corp.'s longest-serving board member, will step down in January, marking the end of an era after nearly 20 ye...
- + How top female credit union execs tackle members' economic hardships —The Most Powerful Women in Credit Unions honorees discuss their response to inflation and the challenges facing underserved communities. [Category: 2...
- + The US is badly behind the curve on access to the payments system —The U.S. is alone among G7 nations in not allowing nonbanks direct access to vital central bank payments rails. It's past time for regulations to catc...
- + Goldman readies plan to spin off digital-assets platform —Goldman Sachs' global head of digital assets said plans for the new company are in the early stages, but the long-term goal is to execute the spinoff...
- + Klarna's IPO tests the strength of BNPL —Buy now/pay later popularity has been on the rise as more consumers are turning to short-term installment lending to finance everyday purchases. The S...
- + SEC charges ex-Fed examiner with insider trading —The Securities and Exchange Commission accused a former supervisor with the Federal Reserve Bank of Richmond of trading New York Community Bank and Ca...
- + UBS considers seeking OCC license in growth push —The license would make it easier for the Swiss bank to make loans and take deposits across the United States. [Category: International banking , UBS...
- + Second Trump era expected to breathe life into fintech funding —The pro-business, deregulation-friendly administration is taking office at a time when economic conditions are improving for fintechs and their invest...
- + Retracing the career paths of the Most Powerful Women in Banking —While many banks and financial service companies play out on the global stage, the industry itself can be smaller than it seems. Many of the honorees ...
- + Banks warily optimistic on mortgages but volatile rates a concern —Some lenders are once again hiring mortgage lenders, but memories of the painful staffing cuts they were forced to make over the past two years remain...
- + Private credit markets are a $1.7 trillion ticking time bomb —Huge portfolios of outstanding private credit, issued by lenders completely free of banklike supervision and safety and soundness requirements, are al...
- + Shadow banks to face reins on leverage following FSB probe —The Financial Stability Board plans to publish a consultation report next year suggesting how authorities could monitor vulnerabilities and use policy...
- + How CFPB is cracking down on banks before Trump takes office —Enforcement actions from the Consumer Financial Protection Bureau still fresh in the mind of financial leaders have renewed hopes that a second Trump ...
- + After Okla. bank failure, Chopra calls for expanded deposit insurance —Consumer Financial Protection Bureau director Rohit Chopra said it is "fundamentally unfair" that uninsured depositors at Silicon Valley Bank and Sign...
- + What bankers got right and wrong about the election —Join Arizent and American Banker experts as they discuss whether bankers and other financial professionals got what they wanted from Trump's victory a...
As of 12/26/24 6:21am. Last new 12/26/24 6:21am. Score: 547
- Next feed in category: Banker To Banker