The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
The bank's AI-based virtual assistant, which began development 10 years ago, is now used by 42 million customers and more than 200,000 employees. It does everything from sending wire transfers to unlocking corporate phones.
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The payment company opened a new office in Dublin to battle rivals like Adyen, Stripe and PayPal.
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The "exorbitant privilege" the U.S. has long enjoyed because of the dollar's status as the world's reserve currency would be supercharged if global adoption of stablecoins leads to greatly increased demand.
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Prosecutors claim the Forbes 30 Under 30 honoree maintained two sets of books to hide Kalder's actual revenue of just $60,000.
Eightfold AI, which many companies use as they screen job candidates, is being accused of gathering information about applicants without their consent. The lawsuit also alleges that the company uses an algorithm to judge candidates without explaining how it works.
Acquiring the $5.8 billion Northfield Bancorp would give Columbia a presence in both Brooklyn and Staten Island. The deal provides a window into the impact of New York Mayor Zohran Mamdani's plan to freeze rents on the city's multifamily real estate market.
In a contentious House Financial Services Committee oversight hearing, Treasury Secretary Scott Bessent sidestepped questions on the Trump family crypto conflicts of interest and inflation with pugnacious responses to Democratic lawmakers' questions.
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There are qualities in people and organizations that experts, trying to predict future performance, routinely miss. That includes internal alignment of team members around a strong corporate culture.
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The risk facing U.S. banks is not that stablecoins will suddenly siphon deposits through yield alone. It is that deposits will gradually follow utility as financial experiences improve elsewhere.
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As the Trump administration signals interest in reforming AML regulations, the industry must come together in support of new rules that promote efficiency and effectiveness in the fight against financial crime.
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By pairing its real-time transfer app with China's UnionPay card, Visa is pursuing business in the huge country, where shifting regulations create hurdles for outside companies.
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Renat Abramov, a former relationship manager in Brooklyn, bypassed know-your-customer protocols to open accounts for shell companies involved in a $14.6 billion scheme.
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Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.
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Treasury Secretary Scott Bessent appeared to urge the crypto industry to deal with bankers in the yield stablecoin issue during his regular testimony in the Senate Banking Committee Thursday.
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The mortgage technology unit at Intercontinental Exchange posted a profit for the third straight quarter, even as lower minimums among renewals capped growth.
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Mortgage rates edged higher after the Fed held rates steady, with markets weighing political shifts, Treasury moves and mixed signals on where borrowing costs head next.
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Sally Breyley Parker is co-founder of TimeZero Enterprises, which helps organizations flourish as living systems by creating conditions for collective wisdom and adaptive capacity to emerge.
Derek Horstmeyer is a professor of finance at George Mason University's Costello College of Business. He is the co-founder and director of the Student Managed Investment Fund, and the founder and director of The Future of Finance Lab.
The demise of the banking industry in the U.S. has been incorrectly predicted for generations. The truth is that the industry never dies, because it never stands still.
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