Under a proposed rule, the agency would let most nationally chartered firms off the hook for heightened regulatory standards. The rule would raise the bar from $50 billion to $700 billion of assets and leave only eight firms subject to heightened regulation.
Amazon.com's cloud-computing service, used by Capital One and other large companies, was beset by "high error rates" on parts of its S3 data-storage system, disrupting many sites and mobile apps.
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In the year ahead, financial services regulatory agencies should take the opportunity to pull back from ideology-driven supervisory decisions and embrace a fact-based approach that will boost the U.S. economy.
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A recent industry survey finds most participating banks predict asset growth for 2025; Frax Finance launches a new stablecoin backed by BlackRock; Camden National closes its acquisition of Northway Financial; and more in this week's banking news roundup.
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Banks are taking hits in the stock market as they use 2024 to restructure balance sheets and inflation slightly increased in November.
As the CFPB prods banks to improve their debt collection processes, tech firms are applying artificial intelligence, chatbots and self-service portals to create a more enlightened approach.
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New York Life is quietly emerging as a global force in asset management. Credit Yie-Hsin Hung, the CEO of New York Life Investment Management.
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Across asset management, investment banking, capital markets and cards, these finance executives stand out for their performance and for helping to create a path to parity for women in sectors that tend to be even more male-dominated than the banking industry.
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Amid continuing predictions about the demise of conventional money management, Fidelity's Abigail Johnson is making adjustments to keep the business thriving and prove the doomsayers wrong.
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The company, which recently completed an audit, set aside funds to cover issues tied with a lending program it discontinued last year. The move cleared the way for Sterling to file an overdue annual report with the Securities and Exchange Commission.
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Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered.
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Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.
The Bank of America branch in Altadena burned down last month. Now the bank must determine whether customers' prized possessions survived.
Federal Reserve Gov. Michael Barr — who until February served as the agency's top regulator — said community development functions have benefits for the Fed's monetary policy, supervision and research goals.
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As virtual assistants become central to banking, financial institutions of all sizes must embrace and leverage this transformation to redefine the customer experience.
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Characterizing them as 'schemes' unfairly impugns a service that cash-strapped consumers value and have come to count on.
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The biggest banks need to get creative about the kinds of products and services they offer, and their efforts to attract a broader customer base.
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Donald Trump, Taylor Swift and the CEOs of the biggest banks: We checked back to see if our predictions were correct about whether these bankers, regulators and payments execs made an impact on the industry this year.
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While the term "financial supermarket" may have gone out of fashion, firms still see opportunity to boost profits and keep clients loyal by blurring the lines between banking and wealth management.
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Proxy advisory firm Institutional Shareholder Services recommended approval of Fifth Third's $10.9 billion proposed acquisition of Comerica.
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The Consumer Financial Protection Bureau in an advisory opinion said that "covered" earned wage access products should not be considered an extension of credit under the Truth in Lending Act. It also said that expedited delivery fees and tips should not be considered finance charges.
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The cryptocurrency company has entered partnerships with big banks and payment giant Klarna in recent days. Coinbase exec Brett Tejpaul says the GENIUS Act is creating an opportunity to sell a broad range of digital asset technology.
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Terron T. Brown used stolen mail and social media recruits to defraud banks such as PNC and Bank of America of millions, highlighting a rising industry threat.
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The de novo bank, which will serve participants in virtual currency markets, is putting the regulatory pieces in place for its planned 2026 launch.
A breach at an auto lending compliance provider highlights third-party vendor risks and has triggered class action lawsuits against the firm.
The 23rd annual ranking of women leaders in the banking industry.
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