Enova International, a nonbank lender in Chicago, plans to gain scale by taking over Grasshopper Bank's national bank charter. The deal already faces skepticism from critics of Enova's high-cost lending model.
Tesco Bank, based in Edinburgh, Scotland, has refunded 2.5 million pounds (about $3 million) to 9,000 customers who were affected by a large-scale online banking cybertheft last weekend.
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The giant card network and the global bank are combining their scale to boost real-time cross-border transfers as fintechs target the market.
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The Conference of State Bank Supervisors cast doubt on an initiative unveiled by Treasury Under Secretary for Domestic Finance Nellie Liang that would establish a federal regulatory framework for domestic payments, saying that state-level supervision "does not … constitute a regulatory gap."
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By offering its authentication technology to other issuers, the credit card lender can compete with payment networks and mobile wallets. But it will have to persuade other banks to get on board.
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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A preview of the next version of Moven's personal financial management app finds a new direction helping people understand the trade-offs they make between short-term and long-term financial goals.
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The $9 billion-asset company said in a press release Monday that it bought the business assets of Ronald N. Lazzaro in Rutland, Vt., a financial planning an investment services firm.
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Mobile could become the one-stop shop that banking companies never quite achieved, blending basic banking, wealth management and other services, if efforts like those underway at Citigroup's fintech unit succeed.
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A Democratic measure to freeze foreclosures and auto repossessions through the coronavirus crisis while expanding eligibility for loan forbearance is getting strong pushback from banks and credit unions, which complain it would constrain credit.
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The panel shot down a proposed interim final rule regarding time limits for overdrafts, the first time in recent memory that an issue before the board did not have the votes to pass.
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The much-anticipated proposal, which would not go into effect until after Fannie Mae and Freddie Mac are privatized, reflects Director Mark Calabria’s aggressive efforts to get the companies on a strong financial footing.
Months of painful restructuring may be paying off as the Charlottesville, Virginia-based company reported a modest third-quarter profit after more than a year of losses.
During its meeting last month, some members of the Federal Reserve's monetary policy committee expressed concern about persistent supply chain disruptions while others were confident price growth would be constrained.
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The Consumer Financial Protection Bureau's mission is important. That's why Congress needs to have stricter oversight of its actions.
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Three years removed from the Black Lives Matter protests, banks have not fulfilled their promises to help close the racial wealth gap.
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An advocate for retail merchants takes issue with a BankThink article criticizing the Credit Card Competition Act.
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The lawsuit alleges the fintech giant secured its own corporate data with strong MFA while leaving client systems vulnerable to compromise.
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A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.
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The Texas-based community bank is turning itself into a "digital asset financial institution" as the Trump administration pushes crypto-friendly policy and other banks make their bids.
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KeyCorp CEO Chris Gorman said Tuesday that the bank has doubled its buyback plans for the fourth quarter and laid out a new long-term profitability target. The comments came a few days after HoldCo Asset Management issued a scathing report about the bank's performance.
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Democratic senators are calling for Senate Banking Committee Chairman Tim Scott to compel the acting director of the Consumer Financial Protection Bureau to testify.
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In a new interpretive letter, the Office of the Comptroller of the Currency will allow banks to serve as middlemen for "riskless" crypto trades, extending existing brokerage authority for securities to digital assets.
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In a sternly worded letter, Sen. Elizabeth Warren and Rep. Maxine Waters demanded to know why federal agencies haven't provided more guidance since the one-cent coin was discontinued. They accused the Trump administration of making an "abrupt and unilateral decision" without thinking it through.
Royal Bank of Canada now expects to achieve an annual return on equity of at least 17% by 2027, executives said Wednesday, up one percentage point from the bank's earlier goal.
The 23rd annual ranking of women leaders in the banking industry.
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