The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
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The financial institution has released a series of new products in response to a slew of competitors pursuing corporate treasury management clients.
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Card balances fell by 1.5% in the first quarter from the previous three months, according to data released by TransUnion. Balances remain near a record high and are up 19% from a year earlier.
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The buy now/pay later fintech said during its earnings report that it's rolling out new products, while also creating a way for borrowers' credit scores to reflect their repayments.
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 group of Goldman Sachs Group Inc. traders is being pursued by at least three competing firms, including Avenue Capital Group, as the investment bank prepares to break up the unit, according to two people briefed on the discussions.
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In a Barclays survey, 60% of wealthy people said they want to continue working as long as they are able, shunning traditional retirement.
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The Michigan company has been acquisitive lately, buying California branches and a wealth advisory firm.
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As inflation fears put upward pressure on 10-year Treasury bonds and mortgage rates nationally, borrowers could start to take more notice of what lenders are charging them locally.
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The House Financial Services Committee chairman is calling out Fannie Mae and Freddie Mac's regulator for authorizing payments to two housing trust funds while the mortgage giants have their own financial struggles.
The regional bank announced a near-doubling of the size of its most-senior leadership team, plus expanded roles for two former SunTrust executives and the hiring of a wholesale banking chief from Wells Fargo. Truist is under pressure to improve both its efficiency and its financial performance.
Federal Reserve Vice Chair Philip Jefferson discussed the history of the central bank's last-resort lending facility. He characterized the Fed's latest outreach as part of a century-long effort to fine-tune the discount window.
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The innovation recognizes inventory levels and uses machine learning and sales history to identify the ideal price point to incentivize a consumer to select the product with a limited shelf life, says Quicklizard's Pini Mandel.
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As merchants navigate a rapidly evolving market, invisible payments are becoming a crucial means of offering customers the seamless, simple, and streamlined experiences they crave, says Credorax's Igal Rotem.
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Laws like the Home Mortgage Disclosure Act require banks to report detailed demographics of borrowers to ensure fair lending practices. If banks are serious about promoting diversity, then they should commit to revealing similar details about their own employees.
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A Republican-led effort to raise Bank Secrecy Act reporting thresholds gains momentum amid debanking rhetoric as lawmakers eye must-pass defense authorization as vehicle for financial regulatory reform.
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The Canadian institution plans a U.S. tokenized deposit, contending that it can help banks keep and grow deposits amid threats from fintech-issued cryptocurrency. Founder and President David Taylor is encouraging others to do the same.
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Founder and executive chairman Edward Nigro will step back into the top executive spot after Ryan Sullivan informed the company he didn't plan to renew his employment contract.
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The Bureau of Labor Statistics reported that the economy added 22,000 jobs in August, raising the unemployment rate to 4.3% and providing additional cover for the Federal Reserve to lower interest rates in September.
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Fintechs are rolling out business financing tools that are packaged as buy now/pay later and earned wage access in the hopes of capturing momentum from the budding consumer finance industries.
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Both Fannie Mae and Freddie Mac made similar changes to their policy when it comes to disclosures and retention rules for an appeal of a valuation.
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Federal Reserve Vice Chair for Supervision Michelle Bowman floated the idea of allowing employees to hold small amounts of digital currencies, arguing that it would help with retention and understanding of the product. But some questions whether the move will yield those results, or raise ethical problems instead.
As more states pass legislation, it's become a challenge for firms to stay on top of compliance. Executives spoke with American Banker about their strategies.
The 23rd annual ranking of women leaders in the banking industry.
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