The Federal Reserve and Office of the Comptroller of the Currency terminated enforcement orders against Industry Bancshares and its subsidiaries. The banks were considered prime examples of interest rate risk management gone awry.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
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Affirm must demonstrate it can maintain healthy loan growth to regain investor confidence when reporting earnings results Thursday, while Klarna unveils results next week.
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Wealthier Americans cut their credit card spending for a third straight month in July as inflation and market volatility weighed on sentiment, according to a study by Bank of America Institute.
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Firms like Amazon Go and Zippin are focusing more on data their systems collect that isn't captured by traditional point-of-sale systems. This information can play a key role in loyalty programs or back-office tasks such as tracking inventory.
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Charles Schwab Corp. has formed a partnership with Pacific Investment Management Co. to offer wealthy clients in or approaching retirement a managed municipal bond laddering product.
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Single family offices have avoided registering as investment advisers with the Securities and Exchange Commission by considering themselves private advisers. But that could change.
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Facebook has disabled so-called ethnic affinity filters from housing, credit and employment advertising following mounting criticism that the practice allowed marketers to discriminate against minorities in violation of fair housing and civil rights laws.
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Industry forecasts for 2017 mortgage volume assumed a continuation of current housing and economic policies under a Hillary Clinton administration. But with Donald Trump's win, analysts are sorting out what, if any, adjustments are needed to those projections.
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Officials of the National Association of Realtors were ecstatic about the Federal Housing Administration's lower owner-resident requirements for condo loans until they read the fine print.
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.
Whitney Stewart Russell, President of Digital Solutions at Fiserv, speaks with Chana Schoenberger, Editor-in-Chief of American Banker, about how turmoil in the industry and the economy is playing out as banks work to become more digital.
A year ago, the National Community Reinvestment Coalition accused KeyBank of redlining. On Wednesday, the NCRC and Key announced a $25 million "agreement" that NCRC CEO Jesse Van Tol says could open the door to a new community benefits plan.
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Bankers’ criticism that the expanded designation would bolster the largest credit unions is misguided.
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Micro-investing apps that can enable payments, savings management and investment all in one place will gain favorable consideration from investors and consumers alike, says Naples Technology Ventures' Tom Hogan.
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Funds from a certificate of deposit at Berkshire Bank will help fuel lending to minority-owned small businesses. Mellody Hobson explains why merely "working on diversity" is not good enough. And Wells Fargo ties compensation to progress on diversity targets.
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The labor market was a bigger point of discussion in the Federal Reserve's most recent monetary policy-setting meeting, but officials were divided about the path of future actions.
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The digital bank is also partnering with two pro pickleball leagues to court fans through a consistent presence at tournaments later this year.
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Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.
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U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.
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The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.
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Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.
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The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."
The Florida bank plans to expand its solar lending operations while Senate Republicans look to end most tax breaks for clean energy.
The 23rd annual ranking of women leaders in the banking industry.
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