Scott Simpson, the next CEO of America's Credit Unions, talked to American Banker about how he plans to fend off a "clear attempt to try to destroy the business model."
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.
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The payments company said the Consumer Financial Protection Bureau has closed a probe it began in 2020 after a consumer advocacy group accused PayPal of offering students at for-profit universities high-cost financing for unaccredited courses.
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As a stand-alone company, Worldpay will have more leeway to pursue mergers and acquisitions, FIS CEO Stephanie Ferris says.
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Super Bowl spending spikes, Openpay closes, Mastercard takes aim at gamers, and more in banking news this week.
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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Banks that are successful in cross-selling wealth management products are widely admired by their peers.
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Warren Buffett's Berkshire Hathaway Inc. is the darling of U.S. millionaires, or at least those in Tiger 21, a peer investment group.
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Net interest margin widened 12 basis points, too. Those lending results offset a decline in fee income at the Minneapolis company, which saw earnings rise 4%.
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Under a joint order, lenders still have to document the value of properties in storm-affected regions, but they will not have to depend on appraisers.
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With the housing crisis and the Great Recession well in the rear-view mirror, more and more credit unions are offering mortgage options with low or no down payment requirements.
As part of the changes, the Spanish bank is combining individual countries' retail and commercial banking businesses under a new global unit, which will be headed by Daniel Barriuso, and creating a new digital consumer bank area that will be led by Jose Luis de Mora.
In a letter to JPMorgan Chase CEO Jamie Dimon, the Democratic senators said he should "put on hold any plans" to raise fees on checking accounts due to higher regulations.
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Bitcoin has underpinned the next generation of currencies, while showing that central banks are not necessarily needed as administrators or gatekeepers.
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In today’s changing work environment, a one-size-fits-all policy does not make sense. An AI-based system means organizations rely less on an auditor’s luck in catching expenses abuses, and more on a systematic, evidence-based, and consistently fair approach, says AppZen's Andrew Foster.
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Many employees, particularly women, are likely to become unexpected caregivers at some point. Companies should do more to ease their burden, says a top retirement and wealth specialist at Bank of America Merrill Lynch.
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Washington Trust Bank is executing a slow-but-steady de novo expansion inside the I-5 corridor on the western side of its home state. Its newest branch is slated to open this fall in Tacoma.
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New York Attorney General Letitia James alleges that Zelle's parent company, Early Warning Services, failed to adopt basic safeguards to combat fraud. The Consumer Financial Protection Bureau dismissed a similar lawsuit in March without an explanation.
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Bank groups, especially those representing the largest institutions, did little in the way of a public campaign against the provisions in the stablecoin bill that could disintermediate traditional banking, but are picking up steam for the upcoming market structure fight.
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The lender, which uses existing credit balances to fund installment loans, has linked to Samsung Pay and plans other partnerships in the future to build a global merchant network.
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New data from American Banker finds that use cases for intelligent automation are growing across banks and credit unions alike, such as fraud and lending.
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Affirm and FICO earlier this year took the first steps to incorporate buy now/pay later loans into consumer's credit reports. But it will be some time before lenders start making credit decisions based on the short-term installments, even if holdouts like Afterpay and Klarna decide to report to the credit bureaus.
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A FICO survey shows 33% think exaggerating income on credit applications is acceptable. Ironically, many also prioritize strong fraud prevention from banks.
The bank partnered with the cryptocurrency exchange platform to connect Chase customer accounts and services directly to Coinbase wallets next year.
The 23rd annual ranking of women leaders in the banking industry.
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