President Trump's announcement Friday morning that former investment banker and Fed Governor Kevin Warsh would be his selection as the next chairman of the Fed ends months of speculation and gives the president a key ally at the central bank.
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.
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The neobank was bullish on cryptocurrency and stablecoins, which could provide tailwinds as it looks to launch new products including crypto-based lending, institutional trading, and correspondent payments and settlements via stablecoins.
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Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.
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The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.
The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit card interest rates.
A one-time accounting change will boost the bank's ability to spend on marketing. Traders flinched at the change; analysts called it a buying opportunity.
The Office of the Comptroller's interpretation of federal trust powers has opened the door for dozens of charter applications by nonbank crypto firms in recent months. Some experts say the agency's interpretation may push the ambiguous statute beyond its limits.
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While they may look like a tool for reinforcing customer's connection to their banks, loyalty coalitions present serious risks if they are not constructed properly and monitored continuously.
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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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The neobank was bullish on cryptocurrency and stablecoins, which could provide tailwinds as it looks to launch new products including crypto-based lending, institutional trading, and correspondent payments and settlements via stablecoins.
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Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.
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Even with the 4 basis point rise in the 30-year fixed over the past two weeks, mortgage rates are still hovering near three-year lows, Freddie Mac said.
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The auto lender's earnings mostly surpassed expectations in the fourth quarter, but its financial outlook was dampened by its projection of a weaker labor market in 2026.
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American Banker has launched a new AI-powered search engine for our website.
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Call for submissions for women 40 years and younger who are rising leaders at their bank or financial institution.
The 23rd annual ranking of women leaders in the banking industry.
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