Bank groups, crypto firms and regulators are divided over whether fiduciary digital-asset custody fits naturally within the national trust charter model — or whether, as critics argue, the agency is quietly reinventing the charter.
Yahoo! Inc. disclosed a second major security breach that may have affected more than 1 billion users, another blow to the company's reputation as it nears the sale of its main web businesses to Verizon Communications Inc.
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The payment company is connecting installment lenders with borrowers who may be looking for a product instead of a specific company.
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U.S. Bancorp is splitting its payment services business in half; Flagstar Financial continues to fill out its leadership with an eye toward tech and risk management; First Horizon authorized an additional $350 million in stock buybacks for its $1 billion share repurchase plan; and more in this week's banking news roundup.
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Transaction volume and nonpayment services boosted earnings, and the card network expects these trends to continue into 2025.
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 a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing business.
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The San Francisco firm unveiled a new logo that prominently depicts its connection to its longtime owner, BNP Paribas. In doing so, it is wagering that any fallout from negative public perceptions of global megabanks will be outweighed by new opportunities to generate revenue.
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With a hand from Geezeo, Jack Henry is rolling out a product that will guide consumers in managing their finances and is said to give banks better insights.
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Legal experts say it is now more likely that the Supreme Court will strike down the single-director governance framework for Fannie Mae and Freddie Mac’s regulator.
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In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.
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The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau.
Lenders across the country promoted from within to fill top executive roles, including First International Bank & Trust in Watford City, North Dakota.
Congressional Democrats offered a bill Friday requiring the Treasury Department to apply the anti-money-laundering requirements of the Corporate Transparency Act more fully and help educate small businesses on how to comply with reporting of beneficial ownership information.
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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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Michael Lewis takes a more sympathetic approach than many other observers to the former CEO of the crypto exchange FTX in his latest book, "Going Infinite."
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In a move some industry observers call "dangerous and irresponsible," the administration is taking down consumer protection guardrails that have been put up by states like California and Colorado.
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Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
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The Office of the Comptroller of the Currency Friday approved national trust charter applications for five crypto firms, affirming the administration's push to allow crypto companies the ability to take deposits.
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Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
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As shoppers embrace new forms of AI, crypto and alternative financing, payment experts say financial institutions will need to reassess traditional payment products.
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Leading Democrats on the Senate Banking Committee sent a letter to Chair Tim Scott, R-S.C., pointing out the as-yet unsatisfied legal requirement for prudential regulators to appear in Congress semiannually.
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The bank is increasing monthly and transaction fees on a business checking account for the first time since 2017.
In oral arguments held Monday morning, a majority of Supreme Court justices seemed poised to overrule a 90-year-old precedent validating multimember independent commissions, but it remains uncertain what limits — if any — the court may impose on the president's removal powers.
The 23rd annual ranking of women leaders in the banking industry.
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