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.
Capital One became the latest bank to feel customers' online wrath last week after reports that some customers were being charged twice for debit card activity. But it was hardly alone.
-
Bread Financial continues to keep its eye on the potential inflationary impacts of the Trump administration's trade policies, despite the fact that its delinquencies and losses declined in the second quarter.
-
The fintech has made its core payment app interoperable with Venmo and will connect 2 billion users through partnerships in India, China, Brazil and other major digital commerce markets.
-
As the U.S. moves to make central bank digital currencies illegal, projects in other countries are moving slowly. Also: U.K. regulators look for new ways to monitor Apple and more in the global payments and fintech roundup.
Banks that need to fill large volumes of jobs increasingly let AI decide who’s in and who’s out, based on analysis of digital resumes and video interviews. Algorithms can take a more inclusive and less biased view of candidates, but experts say there are several things to watch out for.
-
In June, Warson became the first person to hold the newly created job of chairman of Citi Private Bank, North America.
-
The company founded by her grandfather remains committed to actively managing money for longtime clients, but under Johnson, Fidelity Investments is also aggressively going after younger investors who favor simple and affordable options.
-
The retirement and investment group Grace runs for Aon is the global firm's second-largest business unit, wit more than $150 billion of assets under management.
-
The new fees based on the DTI, which lenders have said is too likely to vary throughout the origination process for a single loan, will now go into effect in August.
-
The Consumer Financial Protection Bureau issued a new report on junk fees and CFPB Director Rohit Chopra spoke at a White House virtual meeting encouraging states to tackle the proliferation of junk fees through legislation.
-
More than 90% of appraisers are white, and researchers have found that bias leads to lower valuations for homeowners of color. A Flagstar executive said the mortgage-focused bank is "not just going to sit on the sidelines and watch this happen."
A new federal law that decouples health savings accounts from high-deductible insurance plans is expected to be a tailwind for the Connecticut bank's health care unit.
Credit analysts say climate risk could still pose a financial threat to financial institutions, even though the federal government has taken an ax to Biden-era climate guidance.
-
Countries around the world have lots of incentives to build an alternative to the U.S.-centric global payments system using central bank digital currencies. The U.S. must get in the game or see its economic might begin to wane.
-
The president-elect's history of deregulatory financial services policies could offer some benefits to minority businesses and consumers, but the more likely outcome is reduced access to capital and higher costs.
-
With transparency, security and reliability embedded at its core, a blockchain is not merely a way to enhance existing systems — it represents a model for what banking should aspire to be.
-
A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
-
Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
-
The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
-
Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
-
The letter claims the flood insurance premium pricing change has made the product unaffordable, resulting in a large drop off in the number of policies.
-
Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
CEO Max Levchin said the lender is testing technology that allows merchants to perform more advanced testing of promotional financing offers.
Unlike some of its expansion-minded regional bank peers, Montana-based First Interstate is reconfiguring its business model to be smaller and more focused on relationship banking. The blueprint is the work of CEO Jim Reuter, who joined the bank 15 months ago.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from Wolters Kluwer
- Sponsor Content from Appian
-
Partner Insights from Epson -
Sponsored by IntraFi
