Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
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Banks like BNY Mellon can compete with payment tech startups, or they can partner with them to make the most of their innovations. But in doing so, they give a potential competitor a direct line to the bank's sizable customer base.
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The Consumer Financial Protection Bureau is investigating how the Jack Dorsey-led company handles fraud on its person-to-person payments app. After the bureau accused Block of dragging its feet, a federal magistrate judge gave the company a Jan. 5 deadline.
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Marijuana shops across the U.S. are rushing to find alternative ways for customers to pay after networks that supported a popular workaround to the banking system began to shut down last week.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Banks expect hybrid annuities with long-term-care riders to be the next hot product on brokerage platforms, as soon as product providers ramp up their offerings in this area, a Kehrer-Limra executive said.
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Brokers started streaming from wire houses a couple of years ago, and judging from the experience of Columbia State Bank in Tacoma, there are plenty still interested in leaving.
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Readers chime in on banks being problem-solvers, Jamie Dimon’s ties to Trump, a new mortgage app, CFPB catching heat over the Wells Fargo account scandal, and more.
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HUD secretary Carson tells lawmakers that the FHA's capital ratio is on an "upward trajectory," but he hasn't made a decision on another premium reduction.
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Democrats are raising concerns about a Republican push to transfer more of the risk of flood insurance to private insurers.
Firms that had ratings cut included M&T Bank, Webster Financial, BOK Financial, Old National Bancorp, Pinnacle Financial Partners and Fulton Financial.
The Federal Reserve attributes the uptick in simulated losses in this year's stress test examination to heightened risks on bank balance sheets and higher expense levels. Credit cards and corporate lending were top areas of concern for the central bank.
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In the coming months, governments will continue to disburse truly historic amounts of funds; and we can continue to expect historic levels of fraud. Leveraging technology can get money to those who deserve it while preventing criminals from exploiting this crisis, says Giant Oak's Gary Shiffman.
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Embedded finance isn’t an intentional attempt to overthrow banking; most companies are just trying to meet customers where they’re at when it comes to payments, says Kunai's Sandeep Sood.
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Acting Comptroller of the Currency Brian Brooks’ focus on allowing fintech firms into the federal banking sphere appears to have a more ambitious and risky goal: redefining the agency’s regulatory focus.
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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.
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International remittances are a key use case for Visa's stablecoin strategy, CEO Ryan McInerney said during its fiscal Q3 earnings call with investors. They also pair nicely with Visa Direct, the company's instant payment scheme, he said.
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The consumer protection agency told a Kentucky court it wants to re-examine the issues around the way bank customer data is shared with fintechs through data aggregators.
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Despite a deregulatory push under Trump, cannabis banking remains hindered by legal uncertainty. The path forward under the current administration is not much clearer than under the last, but some cannabis banking experts are cautiously optimistic.
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Judge Sparkle Sooknanan granted the National Fair Housing Alliance a temporary restraining order which requires HUD to resume distribution of enforcement funds.
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The CDFI Fund has yet to announce and disburse awards for five programs, even though applications closed months ago, the lawmakers said in a letter to Office of Management and Budget Director Russell Vought.
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Luke Pettit, a Senate Banking Committee staffer, will serve as the Treasury Department's next assistant secretary of financial institutions.
The Minneapolis-based bank worked with WaveBL and ICICI Bank to handle an export shipment with fully digital documents via blockchain technology.
The 23rd annual ranking of women leaders in the banking industry.
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