How can lenders stop elder fraud when a scam is already underway? One approach, allowed by a growing number of state laws, is to contact someone the client trusts. It's a tactic that can work quickly — or backfire.
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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The Twittersphere erupted last week with incorrect conflations of the Federal Reserve's imminent faster payments network and exceedingly nascent interest in a central bank digital currency. Those misunderstandings could pose a real risk to FedNow implementation.
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The world's largest retailer sued Capital One over their four-year-old credit card partnership, saying the bank failed to meet customer service standards. The McLean, Virginia-based bank disputed the allegations, and analysts said that the firm could compensate by landing new credit card partnerships or cutting back on marketing expenses.
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Klarna, Fiserv, Worldline and other tech firms are using artificial intelligence-powered systems such as ChatGPT to modernize their offerings.
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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State Street Corp., known for its passive asset management, may soon expand its small active management business. The Boston company is in talks to buy the asset management unit of Bank of Ireland, according to Bloomberg News.
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Robert Diamond, the architect of Barclays PLC's investment banking expansion, was appointed the bank's chief executive and pledged to boost its consumer unit.
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Bank of New York Mellon Corp., the biggest custodian of other firms' assets, is planning what it says is the first online market in Europe to make it easier to trade hard-to-value asset-backed securities.
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Housing finance reform proposals could make it challenging for community banks and credit unions to serve rural mortgage markets, according to a report issued Wednesday by Brookings and the Center for Responsible Lending.
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The credit union encouraged members to save on interest by converting loans they took out elsewhere to Educators Credit Union loans.
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Laurie Maggiano, the Consumer Financial Protection Bureau's program manager for servicing and secondary markets, died on Sunday.
Executives say the $213 billion-asset company's strong credit performance in the third quarter positions it to pursue loan growth next year.
Fintech app Yotta filed a lawsuit against partner bank Evolve, arguing that it conspired with Synapse to misuse customer funds.
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With many impacted businesses still not ready to comply with the now enforceable CCPA, CPRA affected payment processors should start preparing for this new piece of legislation, says Abine CEO Rob Shavell.
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The latest cyberattacks pointing to the Russian government show that U.S. federal agencies and banks still lack a clear, collaborative game plan.
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There's a wide open market with plenty of opportunity not just for challenger banks but for financial technology as an industry to set themselves apart from incumbents and gain market share, says Veem's Marwan Forzley.
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Self Financial sees earned wage access as the perfect complement to its suite of credit building products. It's the latest example of EWA being paired with broader financial wellness products.
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The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.
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The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.
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The agency says the move, which it made pursuant to a Trump directive, reverses Obama-era policies and requires banks to restore access to customers allegedly cut off for political or ideological reasons.
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The incident appears connected to recent social engineering campaigns, including attacks tied to Salesforce.
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Worries that information can be kept safe is the top issue that's holding back artificial intelligence-driven tech upgrades at regional banks and credit unions.
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Advocates warned the Federal Housing Finance Agency that allowing cryptocurrency assets to be used in the underwriting of Fannie and Freddie mortgages risks taxpayer losses and market instability.
By a 2-1 vote, a three-judge panel of the D.C. Circuit Court of Appeals ruled that the CFPB's union did not have a reviewable claim under the Administrative Procedure Act. The union is expected to appeal to the full D.C. Circuit.
The 23rd annual ranking of women leaders in the banking industry.
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