Lancaster, Pennsylvania-based Fulton Financial said Monday it will pay $243 million in stock for Blue Foundry Bancorp, which has lost more than $20 million since converting to a public company in 2021.
Dubbed Intelligent Receivables and created in partnership with a fintech company called HighRadius, the service seeks to help companies match incoming payments with invoices.
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Experts say transaction growth is OK now, but the next year will be fraught with risk.
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Generative artificial intelligence has usurped its traditional counterpart as the next growing technology taking the payments industry by storm.
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Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.
In a data breach at OpenAI, some ChatGPT users were able to see other users' financial data. In other cases, users have invoked their dead grandmothers to access information that should have been sealed off.
The U.K. challenger bank's Engine tech unit has registered in Delaware and will soon begin hiring a small staff on the East Coast. It faces the stiff challenges all new core banking software providers face in this country.
The Treasury's financial crime agency delayed enforcement of a variety of Bank Secrecy Act requirements for investment advisors in order to gain time to revise and tailor regulations.
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A representative of America's Credit Unions takes issue with a recent article suggesting that credit union commercial lending is excessively risky.
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Mehrsa Baradaran's new book "The Quiet Coup: Neoliberalism and the Looting of America" ties together economic history, an expertise in banking regulation and the perspective of someone who's both watched a country be torn apart by extremism and been inside the American political machine.
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The new president will shape the direction of banking policy, but because financial regulators are more insulated from politics than many other areas, that transition will be gradual.
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Federal Reserve Gov. Stephen Miran reiterated his view that monetary policy has become more restrictive than economists think, but expressed increased urgency that the central bank take strong corrective action.
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The Consumer Financial Protection Bureau plans to transfer its entire enforcement and legal divisions to the Department of Justice and is likely to staff in those units, according to sources briefed by agency leadership.
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American Banker and Best Companies Group are preparing the latest annual ranking of fintech companies that keep their employees happy.
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Investigators found text messages, photos of cash and a conspirator wearing a diamond Truist logo ring while unraveling the $1 million fraud attempt.
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The credit score firm partnered with Plaid to bring additional cash-flow data into its previously released UltraFICO score.
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Reskilling and giving AI the boring work are two approaches banks take to making agentic AI palatable to workers who may fear that bots will take their jobs.
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Moving cannabis from a Schedule I to a Schedule III drug would not legalize cannabis or remove all barriers to cannabis banking, but it would allow operators to write off expenses, increase cannabis customer cash flow and eligibility for favorable loans.
A federal appeals court agreed to have the full bench rehear arguments by the Consumer Financial Protection Bureau's union about whether the Trump administration planned to gut the agency through mass firings.
The 23rd annual ranking of women leaders in the banking industry.
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