Federal Reserve Governor Stephen Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.
A white paper released Thursday said the agency might issue new guidance on fintech product development, third-party risk management and new products targeting the underbanked; streamline its licensing procedures; and appoint experts on "responsible innovation." It is still deciding whether to open an office dedicated to monitoring the fintech sector.
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The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
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To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.
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Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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The money stream is flowing again. After two years of stagnant or shrinking revenue, the 50 largest independent broker-dealers reported that annual revenues rebounded last year.
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Private banks and wealth managers must adapt to far higher expectations from clients and a new set of regulations. Those that can't simply won't survive, according to a global survey of senior industry executives.
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"If you get at what someone's underlying values are, the right choices become more obvious," advises the president of one financial coaching firm on dealing with couples.
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With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start.
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Banks currently can help their CRA performance with mortgages to anyone in a distressed neighborhood, but Joseph Otting said officials crafting a reform plan are considering limiting that to lower-income borrowers.
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The head of the Senate Banking Committee invited the housing secretary to Idaho to discuss low-income housing shortages.
Toronto-Dominion Bank's expensive foray into the U.S. was supposed to supercharge its growth. Instead, it's become a drag on profitability and badly dented the lender's reputation.
The Trump administration continues to battle the Consumer Financial Protection Bureau's union by seeking a stay of a preliminary injunction that reinstated the CFPB's workforce and contracts and preserved its data.
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The only way for Fincen to assure that banks have the tools to identify illicit shell companies is for the agency to verify the information in its new beneficial ownership database.
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The lack of housing — particularly on the lower price range — is becoming an increasingly urgent political issue. But it's also a twisted bramble of tradeoffs that politicians are reluctant to touch.
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Nothing demoralizes a good employee like seeing managers tolerate a bad one.
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Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
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The Federal Reserve Board finalized changes to its supervisory rating framework, allowing large bank holding companies to be considered "well managed," even with one deficient rating.
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As the emerging form of artificial intelligence impacts payments, pace of payment disputes and the workload will change.
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The chairman and CEO of First Independence Bank in Detroit is the new chairman of the American Bankers Association. He said his extensive involvement in industry advocacy roles over the past eight years has made him a better leader.
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The Consumer Financial Protection Bureau is considering a proposal to reduce its oversight of auto finance lenders, saying the benefits of supervision may not justify the "increased compliance burdens."
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A regulatory filing Wednesday sheds more light on how the megamerger came together. It also details the compensation arrangements for Comerica CEO Curtis Farmer, who will become Fifth Third's vice chair.
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The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.
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.
The 23rd annual ranking of women leaders in the banking industry.
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