Treasury Secretary Scott Bessent said Tuesday morning that banks should focus on the sweeping deregulation the administration has enacted as the industry pushes back on President Trump's proposed 10% credit card interest rate cap.
Alice Milligan has pushed Citi to introduce dozens of mobile enhancements intended to simplify customers' interactions with the bank.
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While debit cards are less profitable, payment experts say they're still an important way to build relationships with consumers.
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The administration's 25% import tax on cars and parts can squeeze dealerships' parts and service revenue, one of their largest profit centers. Buy now/pay later lenders could see a windfall.
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A group of states are pursuing similar efforts to cap credit card interchange fees, endangering rewards programs that customers value and raising concerns about an illegal interstate compact.
To personalize products and services, banks are now tracking all sorts of alternative data sources, even the manner in which customers type in mobile banking apps.
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Apps aimed at the very wealthy have lagged behind those for other groups, but there's interest in developing them, especially ones that track total net worth.
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Needs of wealthy clients are "a lot more complex," says Kraleigh Woodford, managing director and head of digital client experience at UBS Wealth Management.
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New financial products may be exciting for wealth managers — but one group of people isn't benefitting, warns Neesha Hathi, the chief digital officer for Charles Schwab.
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The Department of Housing and Urban Development reinstituted the “affirmatively furthering fair housing" measure, which the Trump administration had argued was overly prescriptive, and promised a later rulemaking to bolster the policy.
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Sen. Pat Toomey of Pennsylvania, the Banking Committee's top Republican, is talking up the prospects of a bipartisan deal to overhaul Fannie Mae and Freddie Mac. But Democratic leaders sound less motivated to change the status quo for the government-sponsored enterprises.
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The funding requests break sharply with the Trump administration's calls to eliminate key housing funds and backing for community development financial institutions. The White House also wants to substantially increase the budgets of the Treasury Department and the Small Business Administration.
The top five banks had a combined commercial real estate loan volume of more than $482 billion at the end of the fourth quarter.
An Office of Inspector General audit says the agency's existing program for overseeing banks' technology providers lacks clear goals and metrics. It recommends the adoption of a new risk-ranking methodology by 2026.
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U.S. regulators need to do more to require banks to recognize the risks posed by climate change, and the damage that continuing to support fossil fuel extraction projects does to the environment.
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Rather than fueling uncertainty, the Consumer Financial Protection Bureau should be devising strategies that facilitate clearer policies that bring more certainty to lending markets.
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For a country that relies on the energy and drive of immigrants to the extent that the U.S. does, it's surprisingly hard for them to get bank accounts. It's time to reassess what we mean by money-laundering risks.
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Customers reported failed subscription payments and support issues, though a backup system kept some basic functionality online.
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Defenses against financial schemes, both physical and digital, could leave executives scrambling to keep up with the pace of bad actors over the coming months.
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The San Francisco-based banking giant reported solid gains in credit card and auto lending as credit remained in check and quarterly operating costs declined from a year ago.
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Federal Reserve Gov. Stephen Miran said he doesn't "really buy" the view that a potential indictment of Fed Chair Jerome Powell would affect the central bank's monetary policy.
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The megabank's net income declined by 13% during the fourth quarter as a result of a $1.2 billion pretax loss on sale related to the divestiture of its remaining operations in Russia.
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The Federal Reserve announced it had approved the merger, marking the final regulatory hurdle the banks needed to clear. But a lawsuit seeking to stop the deal is still ongoing.
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Banks will start reporting their fourth-quarter earnings on Tuesday. But it's what bankers say about the next 12 months that will probably attract the most interest from industry observers.
San Diego County Credit Union and California Coast Credit Union, which last year announced plans to merge, are now duking it out in court. SDCCU alleges there are widespread compliance problems at Cal Coast, which Cal Coast denies.
The 23rd annual ranking of women leaders in the banking industry.














































































