The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.
The time banks have to investigate red-flagged credit payments has shrunk from several days to a few hours and fraudsters have already taken notice.
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Recent advancements in transaction processing aim to improve visibility into cash flow, which can be thrown into chaos with uncertain shipments.
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The U.S. card brands plan to acquire European firms for security and subscription payments, while Bank of America seeks new markets for its virtual B2B business and JPMorgan Chase's blockchain unit gains ground.
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The state's ill-conceived law banning interchange fees on sales tax and gratuities will be burdensome and expensive to implement and could portend a patchwork of state-level copycat legislation that would balkanize the payments system.
Through a unique partnership, Nutmeg State Financial Credit Union offers DMV services at two of its locations. So far the results have showcased the power of technology.
The bank has hired an advisory firm to assess a potential sale, a capital raise or a strategic partnership after a prior merger fell through.
The Consumer Financial Protection Bureau will not enforce or supervise the 1071 small business lending rule, it announced in a press release. The rule requires collecting data on the race, ethnicity, gender and LGBTQ status of loan applicants.
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The Consumer Financial Protection Bureau wants to limit law enforcement access to a tool that has proven vital in many criminal investigations.
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Capping interest rates may be popular with consumers, and ultimately voters, but doing so would actually hurt those advocates are trying to help.
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A national interest rate cap of 36% would protect consumers from predatory practices that exploit their desperation and would level the playing field with responsible lenders who offer fair and transparent products.
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Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
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Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.
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The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
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SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.
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The Cincinnati, Ohio-based bank delivered third-quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.
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The Charlotte, North Carolina-based bank reported net income of $1.45 billion for the third quarter and earnings per share of $1.04, which beat analysts' forecast of $0.99 per share.
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The binary charter rules that separate banks and nonbanks are no longer fit for purpose in a financial services industry where a broad array of companies offer banklike services. A new set of diverse charters is needed.
The 23rd annual ranking of women leaders in the banking industry.
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