Can true innovation happen when so much of the industry is still working on systems built in the 20th century?
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The Federal Reserve would seem to offer a compelling alternative to the bank-backed RTP network, but some credit unions — which typically see bank systems as competitive threats — are making more nuanced choices.
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In the news this week: A consumer group filed a complaint against Starbucks over its mobile app and reloadable gift cards, Apple Pay added a new payment tech firm, The Clearing House hired Amanda Stewart as its new marketing chief, and more.
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These executives have taken charge at firms like PayPal, Discover and Early Warning Servcies during a volatile time for the entire industry.
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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Pacific Investment Management Co. has nabbed two bank loan portfolio managers from Lord Abbett & Co. Elizabeth MacLean and Jason Duko will join PIMCO in early April.
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A Federal Reserve decision that will let many banks pay dividends again is another sign that the equity markets have returned to health, and it likely will stoke investor demand for financials, according to Mary Ann Deignan, head of equity capital markets in the Americas for UBS.
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The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.
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The Atlanta company, which reported fourth-quarter results Tuesday, said that the lending partnership with American Express will launch in Atlanta, Chicago, Dallas, Los Angeles and Dallas within the next 60 days.
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The secretary of housing and urban development plans to "finish out this term" but wants to return to "the private sector because I think you have just as much influence, maybe more."
The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.
Federal Reserve Gov. Michelle Bowman — who is viewed as a leading contender to be the next vice chair for supervision at the central bank — said changes to the post-financial crisis framework should be a focal point of the Fed's regulatory policy review.
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Constraining consolidation will only hurt the goal of expanding consumers' access to banking services and credit.
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The agency’s proposed data collection and reporting requirements would disproportionately burden community banks, which lead the nation in small-business lending.
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The Biden administration’s continued extension of a student loan payment moratorium and the uncertain future of a debt forgiveness plan are causing confusion and uncertainty.
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Federal Reserve Gov. Christopher Waller said Wednesday that breakthroughs in artificial intelligence will undoubtedly make life easier and lead to growth, but acknowledged that the technology's adoption will lead to short-term labor market disruptions.
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Acting Federal Deposit Insurance Corp. Chair Travis Hill said the agency will open the bidding process for failed banks to private equity and other nonbanks, streamline resolution plans and revamp its bidding and funding models, reforms spurred by 2023's bank failures.
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Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.
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"We actually see a little bit more strength in the nonprime [consumer]," CFO Brian Wenzel told American Banker.
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New research from American Banker finds that most are still hashing out plans for crypto and stablecoins, but a handful have already launched projects.
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CEO Bill Demchak said there seemed to be "some confusion," after PNC's stock fell some 4% on Wednesday.
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Led by Bryant, serendipitous high-stakes acquisitions and a commitment to niche markets have led to First Citizens Bank's strong growth year-over-year.
Doyle describes herself as naturally optimistic, even after being a passenger on the plane that crashed into the Hudson River in 2009.
The 23rd annual ranking of women leaders in the banking industry.
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