The move comes about a year after rising delinquency levels prompted SBA to raise lender fees and tightened underwriting standards in its flagship 7(a) program.
At some banks, executives are overpromising results and putting tremendous pressure on tech teams, leading to a range of problems.
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Prashant Sharma, JPMorgan Payments' executive director of biometrics and identity solutions, spoke with American Banker about agentic commerce and how liability is shifting as a result of large language models.
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New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.
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As short-term liquidity products gain popularity with consumers, credit unions are looking for new ways to keep their members from looking elsewhere.
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NASAA's proposal would align state laws with the SEC's marketing rule, eliminating concerns advisors have about running afoul of more local laws as they accept testimonials and reviews.
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Marketing experts say that advisory practices trying to grow organically must be thoughtful about the button that offers website visitors a meeting — or they could lose the prospect altogether.
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Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.
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The Mortgage Bankers Association now predicts a Federal Reserve rate hike to arrive in 2027, as housing price growth also slows over the next two years.
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Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago.
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The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead.
Bankers and tech executives at SAS' annual conference said agentic AI is still in the "terrible twos" stage and requires human supervision.
The neobank put its multi-use card in the hands of even more consumers in the first quarter, reaching 5 million users. That has resulted in increased membership fees and average revenue per consumer compared with non-card-wielding customers.
A White House official said that the president will swear in Kevin Warsh, who was confirmed as the next chair of the Federal Reserve last week, in a ceremony Friday. Fed Chair Jerome Powell will serve as chair pro tempore until that time.
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Crypto firms are becoming the kinds of trusted third parties bitcoin was created to get around, raising the question of what digital currencies are even for.
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In a perfect world, statutory certainty about the treatment of digital assets would be preferable to regulatory guidance. However, banks that put off their crypto plans while waiting for Congress to act risk falling behind their more aggressive competitors.
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Recent news reports about the struggles of Blue Owl Capital raise real concerns about opaque private credit firms and the risks they may pose to the broader financial markets. The government needs the tools to gather more information.
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Columbia caught the attacker still inside its systems on Dec. 19, three days before the access window closed, then took four months to notify customers.
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Senate Banking Committee Chairman Tim Scott, R-S.C., flatly denied multiple pleas from Democrats to consider their amendment to a crypto market structure bill being marked up in the committee Thursday that would make banking industry-favored changes to the yield provision. The committee passed the measure in a 15 to 9 vote.
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The two banks are among the large firms that are pouring $4 billion into DeployCo, a large-scale enterprise artificial intelligence venture born out of OpenAI's acquisition of AI consultant Tomoro. Payment technology experts say the deal gives the banks improved access to development expertise as new forms of AI penetrate all aspects of banking.
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House lawmakers modified a ban on big-money investors from purchasing single-family homes, broadening the exemptions for build-to-rent properties and eliminating requirements in a Senate version of the bill that affected investors divest their holdings.
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A report from the Federal Deposit Insurance Corp. found that business clients with large volumes of uninsured deposits fled Silicon Valley Bank, Signature Bank and First Republic at unprecedented speed, contributing to those banks' collapses.
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Call for submissions for women 40 years and younger who are rising leaders at their bank or financial institution.
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American Banker is accepting applications for the Best Banks to Work For program. The annual ranking, which is now in its 14th year, is a showcase of banks that prioritize strong employee engagement, a positive corporate culture and plenty of employee support.
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Think your credit union has one of the best workplaces in the country? Here's how to apply for American Banker's ranking of the Best Credit Unions to Work For.
The 23rd annual ranking of women leaders in the banking industry.
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