The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union's appeal of an August D.C. Circuit ruling allowing the administration to fire up to 90% of the agency's workforce.
Bankers, investors and analysts stop short of declaring a bubble. But the fintech startup and investor fields are getting crowded, and there's bound to be a culling of the herd.
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In comments submitted to the Consumer Financial Protection Bureau concerning its "large participant" rule governing Big Tech in payments, many commenters outlined procedural concerns, suggesting there may be grounds for litigation when the rule is finalized.
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In addition to Ant's possible deal to buy MultiSafepay and Adyen's work with Straumur, Visa has partnered with TECH5 on government ID and Mastercard is expanding its virtual-card network through Rawbank.
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From Mastercard partnering with banks and third parties in new open-banking relationships to PayPal stepping into the cryptocurrency payments market by launching its own stablecoin, payments firms are taking on new opportunities.
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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In February 2010, the head of Firstrust Financial Resources LLC said the advisory firm was looking at different options to spur growth — with a goal of increasing assets under management from $600 million to $1 billion.
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A federal judge dismissed a lawsuit by a group of black financial advisers who claimed Bank of America Corp.'s brokerage Merrill Lynch discriminated against them on compensation.
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The House Financial Services Committee debated legislation Wednesday to reform and reauthorize the National Flood Insurance Program, but no clear solution emerged.
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In remarks to credit unions, the Senate Banking Committee Chairman said that fixing the government-sponsored enterprises and data security were priorities.
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In a tense back and forth with lawmakers, the embattled CEO pushed back on claims that the bank still pressures employees to hit sales targets and retaliates against those who speak up.
Investors reacted negatively to New York Community Bancorp's divestiture of a $5 billion loan warehouse portfolio to JPMorgan Chase. The deal has triggered a debate about whether other banks might retreat from lending to nonbank home lenders.
President Donald Trump's new executive order could have dramatic implications for bank regulation by subjecting agencies to White House political control.
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Consolidation results in harms such as higher prices, reduced worker bargaining power and increased barriers to competition. Because of that, regulators must carefully vet these deals.
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Without a rule standardizing data sharing standards, the Consumer Financial Protection Bureau risks the creation of a patchwork system of privacy standards as consumers seek the benefits of an open banking ecosystem.
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Allowing “stablecoin banks” access to the benefits of a bank charter without the obligation to carry federal deposit insurance creates moral hazard on steroids.
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New research from American Banker finds that financial institutions are asking about ROI, infrastructure costs and compliance burdens.
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America's second-largest bank revised its net interest income target upward after what analysts called a "clean" third quarter.
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A federal judge in San Francisco ordered a temporary halt to reduction in force orders issued by the Office of Management and Budget during the government shutdown, while OMB Director Russell Vought has said he expects to lay off more than 10,000 federal workers.
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Mastercard has added an "agentic cloud" to speed deployment, while Visa has issued a protocol to help AI agents communicate. That and more in American Banker's global payments and fintech roundup.
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The conditional approval came with residency waivers for board directors and green-lights the bank's business model, which is aimed at serving tech companies and ultra-high net worth customers in the digital asset space.
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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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Federal Reserve Gov. Stephen Miran sidestepped whether policy setting pressure from the administration is a welcomed development, but reiterated that he wants to avoid succumbing to "groupthink."
The Federal Deposit Insurance Corp. approved proposals Tuesday that would define "unsafe or unsound practices" and ban the use of "reputation risk" in supervisory exams.
The 23rd annual ranking of women leaders in the banking industry.
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