In a letter led by Senator Elizabeth Warren, D-Mass., all Democratic members of the Senate Banking Committee asked Trump-appointed regulators to extend their consideration of public comment on the proposal to reduce a capital requirement on megabanks, citing insufficient rationale for the change and the potential systemic risks the change could introduce.
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The digital bank is also partnering with two pro pickleball leagues to court fans through a consistent presence at tournaments later this year.
July 9
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Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.
July 9
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U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.
July 9
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The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.
July 9
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Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.
July 9
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New Jersey state lawmakers have introduced a state-level Community Reinvestment Act that would include online lenders and credit unions — who are exempt from the federal law — in its scope.
July 9
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One of the oldest U.S. banks is taking on custody of RLUSD, as stablecoins continue their perceived march toward general acceptance.
July 9
As regional bank consolidation heats up, Comerica, First Horizon and Banc of California are among the institutions that analysts see as the most likely targets for takeovers.
As the city slowly recovers from January's wildfires, Banc of California is working with a local nonprofit group to help small businesses bounce back.
In a letter led by Senator Elizabeth Warren, D-Mass., all Democratic members of the Senate Banking Committee asked Trump-appointed regulators to extend their consideration of public comment on the proposal to reduce a capital requirement on megabanks, citing insufficient rationale for the change and the potential systemic risks the change could introduce.
Big banks with the strongest financial performance varied in asset size, geographies and services.
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
In a letter led by Senator Elizabeth Warren, D-Mass., all Democratic members of the Senate Banking Committee asked Trump-appointed regulators to extend their consideration of public comment on the proposal to reduce a capital requirement on megabanks, citing insufficient rationale for the change and the potential systemic risks the change could introduce.
Junk bonds made Michael Milken the most important and richest person on Wall Street. But they caused many large thrifts to fail. Had he listened to his professors and pursued his Ph.D. in 1970, his legacy might have been different.
As the city slowly recovers from January's wildfires, Banc of California is working with a local nonprofit group to help small businesses bounce back.
In a letter led by Senator Elizabeth Warren, D-Mass., all Democratic members of the Senate Banking Committee asked Trump-appointed regulators to extend their consideration of public comment on the proposal to reduce a capital requirement on megabanks, citing insufficient rationale for the change and the potential systemic risks the change could introduce.
Junk bonds made Michael Milken the most important and richest person on Wall Street. But they caused many large thrifts to fail. Had he listened to his professors and pursued his Ph.D. in 1970, his legacy might have been different.
Alan Childs pleaded guilty to using straw borrowers and falsified loan records to help a timber businessman secure millions in fraudulent loans.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
- Richard Cordray, the first director of the Consumer Financial Protection Bureau, says the Trump administration seems intent on shutting the agency down, even though it has a legal mandate to exist.Sponsored by IntraFi
- Crypto-as-a-service, stablecoins and tokenized deposits all present opportunities for banks, according to Nathan McCauley, co-founder and CEO of Anchorage Digital.Sponsored by IntraFi
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Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.
July 9 -
New Jersey state lawmakers have introduced a state-level Community Reinvestment Act that would include online lenders and credit unions — who are exempt from the federal law — in its scope.
July 9 -
One of the oldest U.S. banks is taking on custody of RLUSD, as stablecoins continue their perceived march toward general acceptance.
July 9 -
The group expressed concern with the White House proposal to reduce the program's funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.
July 9
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The union representing the Consumer Financial Protection Bureau in their suit against mass firings at the agency said the Supreme Court's ruling allowing President Trump to proceed with mass reductions-in-force elsewhere does not impact the union's lawsuit.
July 9
