A Government Accountability Office report warns the Office of the Comptroller of the Currency to clarify which records from the Basel Committee on Banking Supervision should be treated as federal records and thus retained according to the Federal Records Act.
Like many financial companies, the brokerage wants to go where customers are. Since that means communicating with them via a third-party platform, it is working through privacy and security issues.
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Almost 15 months after its announcement, Capital One Financial Corp.'s takeover of Discover Financial Services was officially completed on Sunday, creating the largest credit-card issuer by loan volume in the US.
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The payment company's restructured Genius point of sale system is designed to cover all types of merchants to keep them away from other processors and fintechs.
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Legacy payment systems won't cut it as autonomous software agents begin transacting and collaborating at scale. New payment rails that take advantage of blockchain technology will be vital in the future.
Some banks are setting up their own parallel digital banks, while others form innovation labs. Roman Regelman says BNY Mellon is transforming the entire institution.
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The Massachusetts bank has offered wealth management services in the state for several years.
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The changes affected Dean Athanasia, Thong Nguyen, Katy Knox and Andy Sieg. The company also gave more responsibility to Chief Administrative Officer Andrea Smith.
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Through a new partnership with the Military Spouse Advocacy Network, the trade group will help provide training, videos and classes to the spouses of service members.
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The core function of the Federal Home Loan Bank System — advances to member institutions — plummeted 20% last year to $350 billion, its lowest level in 15 years. That erosion of purpose is emboldening critics, who say the Home Loan banks need to change or face irrelevance.
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The agency is conducting its first price review for Fannie Mae and Freddie Mac products since 2015 to make sure they are generating viable returns. The acting director said that is just one of many questions that must be answered before the enterprises can be privatized.
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Home prices have increased at their fastest rate since the mid-2000s housing boom and driven skyrocketing inflation. Fed Gov. Christopher Waller says lenders are better prepared for a shock than in 2007 but still need to be monitored — especially nonbank lenders.
Richmond, Virginia-based Atlantic Union is still integrating its recent acquisition of Sandy Spring Bank in Maryland. But CEO John Asbury has already begun plotting a new expansion course.
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
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It's unclear what will happen when the Fed starts cutting interest rates, but community banks will be there to support their customers no matter what the economy looks like.
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Citing "moral hazard" as the reason for denying full federal deposit insurance betrays a completely unrealistic belief in the ability of everyday depositors to gauge a bank's strength.
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Bringing in new talent is an essential part of building a business that endures. So, why are so many managers content to tolerate a hiring process that drives talented individuals away?
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State regulators say proposed changes by the Federal Reserve that would make state bank examiners the primary boots on the ground will make bank examinations faster, but could cause some issues to go overlooked.
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Eightfold AI, which many companies use as they screen job candidates, is being accused of gathering information about applicants without their consent. The lawsuit also alleges that the company uses an algorithm to judge candidates without explaining how it works.
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Faraz Shafiq, formerly of AWS and Google, will oversee the bank's vision for enterprise-wide artificial intelligence initiatives.
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CEO Gunjan Kedia joined nearly 70 chief executives of Minnesota-based companies in calling for "an immediate de-escalation of tensions" in Minneapolis, where a second resident was fatally shot by federal immigration agents on Saturday.
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Pre- and post-purchase, buy now/pay later loans from Affirm will be available on Fiserv-issued debit cards. Last year, Affirm and FIS inked a deal to bring Affirm's BNPL loans to FIS-issued debit cards.
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The bank technology seller closed the sale of its payment processor to Global Payments, which sold its card issuing unit to FIS. Helping banks get a handle on artificial intelligence is a big part of FIS' plan to reach banks.
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Three weeks after completing its "merger of equals" with Synovus Financial, Pinnacle Financial Partners said it plans to hire 225 to 250 revenue-generating bankers in 2026 across its newly expanded Southeast footprint.
Observers said the Supreme Court likely will allow Federal Reserve Gov. Lisa Cook to remain at her post while she challenges her purported removal by President Donald Trump. But her continued presence would slow, rather than stop, the president's quest for a voting majority on the central bank board.
The 23rd annual ranking of women leaders in the banking industry.
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