The Federal Reserve said in a statement that its "understanding of innovation products and services have evolved" since the initial guidance was published in 2023.
Though banks are bigger in peer-to-peer payments overall, Venmo is better at functionality and branding and millennials love it. Now banks are launching Zelle with high hopes and the advantage of real-time speed. Can they catch up? Should they even bother?
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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 catch up with clear consumer preferences.
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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 Swedish financier will find out if that momentum will be a winner with investors in the U.S.
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Elevations Credit Union is paying athletes at the University of Colorado Boulder by way of a new credit card. The annual fee, plus two cents per transaction, will go to a collective that provides financial support to Buffaloes players.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Banks have warmed up to digital wealth management tools but will need to use their human advisers, too, to beat fintechs.
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Wells Fargo is piloting features that could help customers boost savings or plan for a trip.
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Atlanta's Westside neighborhood is one of the most underbanked regions in the country, but a new collaboration between Equifax and the National Federation for CDCUs aims to tackle that head on.
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Citing possible exploitation, Bank of America instituted a policy that put limits on loans to persons in guardianship. It later ended the policy.
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Home-renovation loans to add features such as offices and pools could be one source of lending as credit unions struggle with overall sluggish loan demand.
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Delinquencies have been ticking up since the start of the coronavirus pandemic and Capital One is warning of more pain unless the government provides additional relief to tenants and landlords.
The Federal Reserve Board on Friday approved UMB Financial's pending $2 billion acquisition of Heartland Financial.
The House Financial Services Committee passed a crypto oversight bill in a 32-19 vote, as well as several other bills bankers support, including one to curtail abusive trigger leads in mortgage lending, in a lengthy markup.
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The Fed's Basel endgame draft rule would restrict access to capital and credit on Main Street.
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Banks are perfectly willing to comply with a reasonable data collection standard. The problem is that the Consumer Financial Protection Bureau's final rule makes demands far in excess of what the law requires.
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While medical debt is not a problem created by the financial services industry, the industry has a critical role to play in addressing it.
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The Federal Deposit Insurance Corp. issued a proposal setting application criteria for banks to issue stablecoins and sets a strict timeline under which banks may have their applications reviewed. The agency also reduced deposit insurance assessments for banks and slashed its 2026 proposed budget at a board meeting Tuesday morning.
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The Bureau of Labor Statistics Tuesday reported that the economy added 64,000 jobs in November after posting a loss of 105,000 jobs in October, which was largely attributable to the onset of the government's deferred resignation program. Unemployment also ticked up to 4.6% from 4.4% in November.
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These are the executives, regulators, investors, disruptors and firebrands who will have the biggest impact on bankers in the coming year.
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A new report from the Basel, Switzerland-based Financial Stability Board found that nonbank financial institutions grew considerably faster than banks in 2024 and now control more than half of the world's financial assets.
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GBank will serve as the bank partner for a cashless slot machine betting app that is looking to expand nationwide after getting a key regulatory approval in Nevada.
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The payments company submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp. to create PayPal Bank. If approved, Mara McNeill, the former president and CEO of Toyota Financial Savings Bank, will serve as PayPal Bank's president.
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A new bill from Sens. Katie Britt, R-Ala., and Catherine Cortez Masto, D-Nev., would streamline the Securities and Exchange Commission's small-business surveys, which the agency uses to consider the needs of small businesses in rulemakings.
The student lending giant offered forecasts of future earnings that were far below Wall Street's expectations. In recent months, Sallie Mae has been upbeat about the new opportunities it sees under the Trump administration.
The 23rd annual ranking of women leaders in the banking industry.
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