Lenders with between $10 billion and $100 billion of assets grew their core deposits by more than 8% last year, or more than double the industry-wide average. Merger activity was largely responsible for the outsized growth.
The tool runs the numbers and tells small-business people if they would qualify for an SBA loan, and if not, what they need to do to become eligible.
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The lender, which uses existing credit balances to fund installment loans, has linked to Samsung Pay and plans other partnerships in the future to build a global merchant network.
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Affirm and FICO earlier this year took the first steps to incorporate buy now/pay later loans into consumer's credit reports. But it will be some time before lenders start making credit decisions based on the short-term installments, even if holdouts like Afterpay and Klarna decide to report to the credit bureaus.
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Analysts said trade war-related issues are pressuring the U.S./Mexico remittance corridor, lowering the value of the acquisition. Devin McGranahan told American Banker Intermex's technology and footprint provide a path for future expansion.
Investment in the latest technology is crucial for banks and credit unions if they are to compete effectively, while the lack of tech talent continues to be an issue.
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A MagnifyMoney report shows an overwhelming majority of consumers regret not investing sooner, a sign that credit unions could deepen relationships by upping their wealth management options for members.
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A new study from the National Endowment for Financial Education indicates there could be wider interest for financial education in the coming year.
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But some industry watchers are tempering expectations, saying that the language is too vague to know for sure if China is serious about introducing more foreign competition.
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A West Virginia homeowner is suing the banking giant for charges incurred when paying by phone, claiming breach of contract and violation of consumer protection laws.
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Federal bank regulators issued proposed guidelines for banks and other mortgage lenders to craft policies around reconsideration of value requests. The move is the latest aimed at rooting out bias in home appraisals.
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Jennifer Schachterle will oversee the Home Loan bank's relationships with nearly 330 members. Two former members — Silicon Valley Bank and First Republic — failed this year, and consolidation has also thinned its ranks.
Last year, scammers tricked 11,000 people — many elderly — to send them money through ATMs for Bitcoin and other crypto. The payments are often irreversible.
The company appears to be the first nationally chartered bank to offer crypto trading and traditional banking in the same app.
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Effective bank leaders recognize that the success of any team relies not just on those in the spotlight but also on the numerous unsung heroes working behind the scenes.
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There are reasons to be cautious about how a strategic reserve of the cryptocurrency is established, but the economic arguments for including it in the federal government's portfolio are strong.
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Once a helpful tool for law enforcement, CTRs have become next to useless in the fight against money laundering. It's time to retire them in favor of more modern and effective measures.
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The Bureau of Labor Statistics released its January Consumer Price Index Friday, showing that inflation rose 0.2%, while the annual rate eased to 2.4% after holding at 2.7% for several months. The data reduces the likelihood that the Federal Reserve will cut interest rates in the near future.
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The Consumer Financial Protection Bureau's complaint portal has been flooded in recent years, but corporate debt collectors, industry attorneys and consumer advocates question whether the bureau's efforts to reduce the volume will help consumers as much as it helps the firms they're complaining about.
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Rich Guerrini said the bank plans to expand its advisor ranks by about 50% as it targets mass affluent and other new clients with personalized branch-based service.
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Sens. Ted Cruz, R-Texas, and Katie Britt, R-Ala., offered a new bill that would index the Durbin Amendment's debit fee threshold to inflation. The bill joins a number of community bank-centered bills offered or moving through Congress
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While "Q-Day" may be years away, experts warn hackers are already harvesting encrypted data to decrypt later, making the transition to new standards urgent.
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Minal Gupta has implemented new financial technology for years as an executive, and is taking the helm of her credit union as the entire industry ponders how to use real-time payments and new forms of AI.
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The lender beat fourth-quarter earnings estimates but warned that a strategic shift toward auto and home equity loans will compress near-term profits.
In a major setback for banks and credit card networks, a federal judge upheld an Illinois law that bans the collection of interchange fees on sales tax and tip portions of card transactions. Banks are expected to appeal the ruling.
The 23rd annual ranking of women leaders in the banking industry.
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