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 Brazilian digital bank Banco Inter now has a license from the Federal Reserve Board and the state of Florida to establish a virtual "branch" in Miami.
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American Banker research finds that most institutions are still planning out adoption, but see new data sharing products as crucial tools for growth.
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A world of hundreds if not thousands of stablecoins sounds chaotic – but that's because we're still thinking of stablecoins as money. Consider their potential for strengthening customer loyalty and engagement.
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The e-commerce giant, which is in the midst of a corporate downsizing, is discontinuing its Go and Fresh stores and One palm checkout while it repurposes the underlying technology.
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.
Legal experts say the underlying economics of stablecoins mean that banning yield payments — banks' top priority in upcoming crypto market structure legislation — may not be as simple as banks had hoped.
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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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As the Trump administration signals interest in reforming AML regulations, the industry must come together in support of new rules that promote efficiency and effectiveness in the fight against financial crime.
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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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Supply chain attacks have doubled since 2021, with professional services firms increasingly acting as "stepping stones" to access bank data.
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Federal Reserve Chair Jerome Powell said recent data suggests less tension between the employment and inflation sides of the central bank's dual mandate, reducing the need for an immediate policy change.
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