After a long price correction in the art market, Bank of America is expanding its advisory services for collectors — and it's not alone.
Bank employees are likely adopting the OpenClaw AI assistant on the sly to boost productivity, but the tool's deep integration exposes networks to cyber threats.
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In this week's American Banker global payments and fintech roundup, Revolut, Tether and Circle made announcements designed to improve their standing in the stablecoin market. That comes amid new research from McKinsey that says the digital asset is growing quickly, but has not made even a small dent in payments.
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Credit One Bank agreed to a $10.2 million settlement after almost five years of litigation with a group of California district attorneys. The suit alleged that the bank's vendors made harassing phone calls to borrowers.
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Social Security numbers, business addresses and other sensitive information were exposed. The company has fixed the error and refunded the victims.
Andrew Torre, the card network's president of Value-Added Services, said demand for security, agentic commerce and better processing are creating demand for technology and consulting.
At an investor day in London, Banco Santander executives laid out the Spanish company's new financial goals, including a goal to improve a key profitability metric in the U.S. The pending acquisition of Webster Financial in Connecticut is part of the strategy to achieve higher returns, they said.
Banks, trade groups and regulators are eligible to join a group convened by Treasury's Financial Crimes Enforcement Network, or Fincen, which will weigh in on anti-money-laundering rules, Bank Secrecy Act modernization and implementation of a recently passed stablecoin bill.
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A negative work environment with unhappy employees is going to adversely impact the customer experience, even when employees don't voice their dissatisfaction out loud. Bank managers need to create a positive culture.
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The headlong rush to apply AI to all sorts of internal systems runs the risk of damaging consumer trust in the industry. Banks should look to their history and be deliberate about how they integrate AI into their systems.
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As geopolitical threats loom, the U.S. needs a better-coordinated AML strategy. The Treasury Department's Financial Crimes Enforcement Network should take the lead in implementing needed reforms.
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At an investor day in London, Banco Santander executives laid out the Spanish company's new financial goals, including a goal to improve a key profitability metric in the U.S. The pending acquisition of Webster Financial in Connecticut is part of the strategy to achieve higher returns, they said.
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The investment broker announced a real-time trading and settlement option for its tokenized money market fund through USDC stablecoins and the ethereum ledger.
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In this week's American Banker global payments and fintech roundup, Revolut, Tether and Circle made announcements designed to improve their standing in the stablecoin market. That comes amid new research from McKinsey that says the digital asset is growing quickly, but has not made even a small dent in payments.
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Stripe, which is closely held and is among the industry's most valuable companies, has expressed preliminary interest in a potential acquisition of the digital payments pioneer or its assets.
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Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.
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The 23rd annual ranking of women leaders in the banking industry.
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