Kalshi and Polymarket announced additional anti-insider trading guidelines as lawmakers announced multiple bills aimed at restricting the platforms this week.
USAA claims to have developed the mobile capture deposit technology and has already successfully sued Discover and Truist, among others.
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After a federal judge allowed a new state law to ban interchange fees on taxes and tips, a coalition of banks and credit unions struck back.
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Banc of California appoints Chris Healy its new executive director and head of payments; Lia Fordjour is named chief financial officer of the American Bankers Association; Airwallex is the latest fintech to lean on sports sponsorships; and more in this week's banking news roundup.
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Shares of the neobank plummeted nearly 30% Thursday despite posting revenue over $1 billion as investors balked at up-front loan provision expenses that come with the expansion of Klarna's longer-term installment loans.
Two large companies' announcements that they're laying off thousands of people they've deemed not AI-savvy have drawn mostly negative reactions.
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Standard Chartered Bank hired a new head of digital assets, Europe and Americas; Provident Financial Holdings has a new chief financial officer; Bank of America is opening four branches in Boise, Idaho; and more in this week's banking news roundup.
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Inclusion is a core tenet of the company, with headquarters in both the U.S. and India and a mission to expand access to education.
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Ranjana Clark is the newest member of Texas Capital Bancshares' board of directors; Minnesota's Wings Credit Union and Colorado's Ent Credit Union are merging; Regions Bank adds Angela Santone to its C-suite; and more in this week's banking news roundup.
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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 Tulsa, Oklahoma-based bank expects the pace of loan growth to quicken this year, driven in part by its nine-month-old warehouse lending business.
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Trump, during his return from Davos, signaled reluctance to allow 401(k) withdrawals for home down payments, but other tax-advantaged options remain on table.
Noelle Acheson argues that stablecoins can help community banks deepen relationships with their customers, help them explore new forms of capital formation and strengthen their own exposure to risk.
Industry comments are favorable, but with statements like "no bill is perfect" and "bold action is needed," groups want changes before it goes to the president.
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Once seen as a sleepy corner of the financial services industry, asset servicing has become increasingly important for banks as artificial intelligence, blockchains and a generational transfer of wealth alter the landscape.
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The future of banking will see core bank systems rebuilt around artificial intelligence tools that inform decisions about everything from underwriting to compliance. Banks must begin the transition now.
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As artificial intelligence agents play an increasingly large role in enterprise finance, traditional credit card rails will be incapable of handling the speed and volume of transactions. Something new is needed.
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Federal Reserve Gov. Stephen Miran said it is too early to judge how U.S. involvement in the war with Iran will affect inflation and monetary policy.
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The Trump administration hasn't formally charged Swalwell, Adam Schiff or Lisa Cook, while a federal court tossed a prosecution against Letitia James.
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Todd Lane, the CEO of California Coast Credit Union, described an allegation by an executive at San Diego County Credit Union as "categorically inaccurate." The two institutions are locked in a legal fight after their agreement to merge turned contentious.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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Todd Lane, the CEO of California Coast Credit Union, described an allegation by an executive at San Diego County Credit Union as "categorically inaccurate." The two institutions are locked in a legal fight after their agreement to merge turned contentious.
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