The agreement, if approved by a federal judge, would end litigation over two distinct cybersecurity incidents in 2021 which affected over 2 million customers.
Gary McAlum, USAA's top security executive, discusses what he sees as a false choice between security and convenience, his company's progress in getting users to adopt biometric authentication, and the need for a holistic approach to security.
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Amazon is working with Stripe to expand its Just Walk Out retail stores in Australia and Canada; Safaricom is working with Onafriq to support remittances sent via M-Pesa to Ethiopia; and more.
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A new crop of AI-powered products from Visa tackles scams beyond the company's network to include account-to-account payments and digital wallets.
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The potential deal between the major card networks and merchants would see swipe fees reduced and capped for at least three years, pending approval by the U.S. District Court for the Eastern District of New York.
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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U.S. insurers' sales of variable annuities rose 24% in the first quarter, led by policies that promise lifetime income and protect against market drops, at a time when investors are still wary of stocks.
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The compliance officer at Wunderlich Securities Inc. was well familiar with the rules for running a brokerage. That wasn't enough, however, to keep him and his firm out of serious regulatory trouble.
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Jeffrey Gundlach looks set to follow another bond fund star, Bill Gross, into the business of actively managed exchange-traded funds.
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The president signed an executive order Tuesday establishing a White House council dedicated to examining regulatory barriers to affordable housing.
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The New York bank has recruited a dozen commercial lenders from PacWest, Wells Fargo and other rivals, continuing its shift away from its historic reliance on multifamily lending.
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Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association.
The $330 million transaction announced late Monday would give the Jasper-based company a foothold in fast-growing Columbus, as well as in Cincinnati.
The OCC will no longer assess reputational risk in bank exams, aligning with President Trump's push to curb debanking, which critics say drove politically motivated account closures.
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Two long-awaited developments — the Consumer Financial Protection Bureau's data access proposal and the Federal Reserve's faster payments network debut — are slated for next year. The combined effect on consumer banking might be more consequential than we now know.
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The U.S. should look abroad for innovative solutions to the problem of assessing the creditworthiness of borrowers with little formal credit history.
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SNAP recipients need easy and reliable access to their account balances and transaction histories. The Consumer Financial Protection Bureau ought to clear the way and let that happen.
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In comment letters on the Consumer Financial Protection Bureau's new rulemaking on personal financial data rights, consumers begged the agency to protect their data from misuse.
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A Luxembourg court ruled against the bank in a long-running lawsuit tied to its custodial role for a fund that invested in the massive Ponzi scheme.
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The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
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American Banker's 2025 Small Business Banking conference yielded lessons about the need for speed, simplicity and safety in small-business lending. Other key takeaways included the significance of digital payment options and the importance of continuing to process SBA loan requests during the government shutdown.
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Nine months after acquiring Heartland Financial, Missouri's largest bank posted a complicated quarter.
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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.
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Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.
In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.
The 23rd annual ranking of women leaders in the banking industry.
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