An Office of Inspector General audit says the agency's existing program for overseeing banks' technology providers lacks clear goals and metrics. It recommends the adoption of a new risk-ranking methodology by 2026.
-
Coastal Community Bank reported smaller profits in the second quarter as it prepared for a growth spurt. "We think we're winning the right business," said CEO Eric Sprink.
August 6
-
The online lender reached profitability ahead of schedule with a boost in loan volumes and increased its outlook for the year despite macroeconomic uncertainty.
August 6
-
Industry veteran Chris Ward has been tapped to lead the Canadian bank's new U.S. small-business banking department. "It's absolutely a growth opportunity," he said.
August 6
-
Federal Reserve Board member Lisa Cook said artificial intelligence will be transformative, but cautioned government officials not to assume that gain in AI technology will offset inflationary pressure elsewhere arising in the economy.
August 6
-
Global Payments executives touted the company's Genius point of sale rollout and Worldpay acquisition during a second-quarter earnings call with analysts, but some are concerned the reinvention is coming too late.
August 6
-
The card brand's Pismo platform will support banking services for the Auckland-based fintech Dosh; Tether collaborates with a blockchain firm to expand USDT. That and more in American Banker's global payments and fintech roundup.
August 6
-
With federal oversight easing, Rhode Island joins states pushing cybersecurity laws for finance companies not covered by federal bank regulators.
August 6
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Big banks with the strongest financial performance varied in asset size, geographies and services.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
An Office of Inspector General audit says the agency's existing program for overseeing banks' technology providers lacks clear goals and metrics. It recommends the adoption of a new risk-ranking methodology by 2026.
An Office of Inspector General audit says the agency's existing program for overseeing banks' technology providers lacks clear goals and metrics. It recommends the adoption of a new risk-ranking methodology by 2026.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
The CEO of First Northwest Bancorp is promising to fight a lawsuit claiming the lender helped a client perpetrate a Ponzi scheme that bilked a hedge fund out of more than $100 million.
Texas Capital Bancshares in Dallas has named TSYS Chief Information Officer Patty Watson to its board.
The honorees, selected by the editors of PaymentsSource, are responsible for businesses and innovations as diverse as the payments industry itself.
When Armine-Klein joined the company in May 2014, First Data held a 45% rating on the Human Rights Campaign Corporate Equality Index, which is used to benchmark corporate policies and practices regarding lesbian, gay, bisexual and transgender employees. Today, First Data holds a score of 100%.
-
Kyum Kim, co-founder of the online professional network Blind, describes the impact of the coronavirus pandemic's enforced quarantine on people who work in financial services.
May 4 -
Chris Skinner, the author of "Doing Digital," defends banks' response to the coronavirus crisis and discusses why he thinks the tech giants won't be able to take market share away from traditional financial institutions.
April 28
-
The bank is giving all employees Google's Deep Search and NotebookLM, and it will start creating agentic AI virtual assistants using Agentspace.
August 5
-
The removal of the commissioner of the Bureau of Labor Statistics is unlikely to change government data practices in the near term, experts say, but the perception of interference will have a big effect on the credibility of government economic metrics going forward.
August 5
-
Equity investment in the sector reached $10 billion for two quarters in a row as the sector weathered tariff uncertainty and saw an increase in exit deals.
August 4
-
Western Union's North American money transfer business logged a decline in cross-border remittance revenue, led by drops in the U.S. to Mexico corridor, its largest remittance stream by far. The company is also bracing for the 1% remittance tax codified in the "Big Beautiful Bill," a levy that does not directly apply to banks.
August 4
-
A threat group used physical implants and evasive malware to infiltrate ATM networks and attempt fraudulent withdrawals. Here are their tactics and techniques.
August 4
