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MasterCard issuers had to cast at least 90% of their votes in favor of the Target settlement by May 20, and not enough did, the companies said. Banks and credit unions will fight for a better deal.

Top Stories

Proposed new rules from the CFPB could wind up forcing banks out of the small-dollar lending business, leaving cash-strapped consumers with fewer borrowing options.  more »
Carolina Bank's growth, and a corresponding increase in remote workers, drove the CEO and IT department to seek technology tightening access to its systems without making it harder for employees to log in.  more »
Several big banks have hired environmental professionals from far outside the world of banking to make sure banks' clients aren't doing things to threaten water quality, public health or worker safety. The executives' job is to protect their banks' credit books — and reputations.  read more »
FinTech Forward
Investor communications company Broadridge Financial Solutions has entered into an agreement with Thomson Reuters Lipper to acquire its Fiduciary Services and Competitive Intelligence unit.  read more »
Quants are still around, and their computer, math and statistical modeling skills are still sorely needed in banking. But they're more likely to apply their brainpower to stress tests than to pricing complex derivatives or exotic products.  read more »
With older appraisers retiring and fewer and fewer college graduates entering the profession, industry observers say that, in five to 10 years, there won't be enough appraisers to handle the volume of home sales. For lenders, that could mean higher appraisal fees and long delays in closing loans — at a time when technology could be speeding up the process.  read more »
More banks are steadily raising and reinstating cash dividends. Bankers say the increases reflect improving confidence with the economy, though some investors contend that higher payouts signal challenges deploying capital.  read more »
Digital upstarts are out to steal traditional banks' customers by taking the hassle out of everything from account opening to borrowing. It's tough to compete with banks' resources and brand recognition, but these new mobile competitors are adamant that they can win on customer experience.  read more »
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