President-elect Donald Trump may opt to bypass Democratic suggestions for minority party seats on the Federal Deposit Insurance Corp.'s board of directors, setting up potential conflicts with Senate leadership over regulatory appointments.
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The Federal Home Loan Bank of New York paid its departing director of diversity and inclusion $561,600 after an external review found "oversight issues" that led to a shake-up of the bank's human resources department; CDFI Friendly America launches an online mapping system to spotlight growth opportunities nationwide; global law firm A&O Shearman expands its U.S. debt finance team; and more in this week's banking news roundup.
August 23
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Most financial institutions are seeking ways to speed up payments, but one neobank is looking to slow them down to protect a segment of the population frequently targeted by scams.
August 23
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Vice President Kamala Harris' pledge to deliver 3 million homes has drawn applause from homebuilders, lenders and affordability advocates, but experts are uncertain how her administration would pull it off.
August 23
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Committee Chair Sherrod Brown is facing a tough election.
August 23
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Banks are concerned about the lack of clarity regarding legal liability in the Consumer Financial Protection Bureau's open banking rule, and fear that they will end up on the hook for data breaches or unauthorized transactions caused by a fintech or data provider.
August 23
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In his speech at the Federal Reserve's Jackson Hole Economic Symposium, the Fed chair said employment losses are now a bigger risk than elevated inflation.
August 23
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Bank of America, Citigroup, HSBC and others are increasingly using sustainable and recycled materials for manufacturing
August 23
Annualized inflation increased to 2.7% in November from 2.6% the previous month, providing further evidence that the economy remains strong despite restrictive monetary policy.
Institutions like BMO Financial Group and Bank of Nova Scotia saw earnings bogged down by increased loan loss provisions and higher tax rates.
President-elect Donald Trump may opt to bypass Democratic suggestions for minority party seats on the Federal Deposit Insurance Corp.'s board of directors, setting up potential conflicts with Senate leadership over regulatory appointments.
Annualized inflation increased to 2.7% in November from 2.6% the previous month, providing further evidence that the economy remains strong despite restrictive monetary policy.
Institutions like BMO Financial Group and Bank of Nova Scotia saw earnings bogged down by increased loan loss provisions and higher tax rates.
President-elect Donald Trump may opt to bypass Democratic suggestions for minority party seats on the Federal Deposit Insurance Corp.'s board of directors, setting up potential conflicts with Senate leadership over regulatory appointments.
A string of senior resignations and scrutiny over share sales rocked Bank of America's local operations last year.
A new survey shows banks overwhelmingly support state laws that let them pause transactions to prevent elder financial abuse, despite shortcomings.
Scambaiting, which started as a genre of YouTube content, is now a full-blown tech tactic — with support from Australia's biggest bank.
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.
- It takes $50 million to $100 million, three to five years of losses and a complete commitment from the board to make it as a banking-as-a-service bank, the CEO of Pathward bank says in the latest American Banker podcast.
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Rob Abrams, CEO of J.P. Morgan Mobility Payments Solutions, is overseeing the development of in-car wallet systems that turn cars into rolling credit cards. He explains his vision of what connected cars could look like and do in the future.
April 29
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The $23 million cash transaction boosts Old Second's presence in its home Windy City market, while marking Muncie, Indiana-based First Merchants' exit from Illinois.
August 27
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The New York State Department of Financial Services issued a consent order against Finland-based Nordea Bank, citing deficiencies related to the Bank Secrecy Act and anti-money-laundering requirements.
August 27
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The Canadian lender's cushion for potential credit losses nearly doubled in the third quarter, while its U.S. business idled.
August 27
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The combination, expected to close next year, would create a regional bank with $17 billion of deposits across 10 states.
August 27
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The wealth management giants join their rivals Wells Fargo, Morgan Stanley, UBS, LPL Financial and Ameriprise in being accused of using uninvested cash in advisory accounts to boost their bottom lines rather than benefit clients.
August 27
