A final rule published by the Office of the Comptroller of the Currency Friday will formalize a 2021 interpretive guidance allowing national trust banks to perform non-fiduciary custody. The banking industry complained that the rule runs counter to the traditional scope of the charter.
The bank says its partnership with Lender Price will help streamline and simplify its home loan process.
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There's no designated lender of last resort for nonbank stablecoin issuers in either the recently-passed stablecoin bill or the crypto market structure bill being considered, which experts say could mean bailouts down the road.
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The money transfer fintech expanded its Austin office 200% to 90,000 square feet as it looks toward accelerating growth in North America. The company also separately inked a new partnership with Upwork to add Wise Platform as an infrastructure provider for freelancer payouts.
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The credit score provider has developed "focused" language artificial intelligence models purpose-built for tasks like detecting payment fraud, assessing risk and recommending next best actions.
Arizent research shows that financial institutions will continue paying much closer attention to artificial intelligence next year.
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Rising inflation could lead to a rate hike, bolstering lenders' profits in 2022. Improved credit quality and an economic rebound are also fueling investment in the sector.
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The London-based banking giant announced a plan this week to exit the mass-market U.S. retail business and focus on managing the wealth of affluent globe-trotters. But other international banks will provide stiff competition.
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Cypress Trust in Palm Beach is poised to pull off a rarity: the conversion of a wealth management firm into a community bank. It’s simply another way to take advantage of the ongoing melding of the two financial services sectors, CEO Dana Kilborne says.
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Anne Marie Pippin, associate director in the Federal Housing Finance Agency's Office of Financial Technology, weighs the forces shaping the industry's future.
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The 30-year average declined for the fifth consecutive week, as purchase demand picking up at the same time, according to Freddie Mac.
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The hike was driven by modest home price gains this year, following a larger conforming loan limit boost in 2022 in reaction to then-double-digit home price growth.
Houston-based Prosperity will pay $269 million in stock for Southwest Bancshares in San Antonio. The sale comes on the heels of the death of Southwest's founder and chairman.
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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Financial inclusion cannot be allowed to become a meaningless set of buzzwords. Strong economic growth and future prosperity hinges on the ability of everyone in society to access financial services.
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Don't discount the impact of having your bank's name and logo on small, everyday items that customers and potential customers will see every day.
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Banks that think they can compete in the stablecoin space are making a huge mistake. The smart move would be to upgrade infrastructure to allow assets to move between banks and crypto accounts seamlessly.
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Federal Deposit Insurance Corp. report shows margins widened and profitability remained high even as credit quality saw some wobbles from consumer and commercial loan portfolios.
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In tests, generative AI models gave different answers to questions about banks, and those answers changed as users added new prompts.
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Federal Reserve Bank of Chicago President Austan Goolsbee said the central bank should focus on getting inflation to its 2% target before making any additional cuts to short-term interest rates.
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While bank and crypto lobbyists argue over yield provisions in the crypto bill, another part of the legislation could have a much bigger impact on banks' bottom lines.
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The nation's largest bank said Monday that it will continue to invest in artificial intelligence, despite fears that the technology may harm lenders, and in private credit, despite concerns of cracks in asset quality.
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The investors agreed to buy 499 million shares of Citi's Mexican retail unit for around $2.5 billion. The sale was at a small premium to the initial stake the megabank sold to Mexican billionaire Fernando Chico Pardo last year.
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Hackers used stolen credentials to access the French FICOBA database, exposing names and account numbers but failing to access funds directly.
Social Security numbers, business addresses and other sensitive information were exposed. The company has fixed the error and refunded the victims.
The 23rd annual ranking of women leaders in the banking industry.
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