The lawsuit alleges the fintech giant secured its own corporate data with strong MFA while leaving client systems vulnerable to compromise.
Combining biometrics with device ID, social data, behavior patterns and other factors builds a strong foundation for artificial intelligence to conduct identity proofing and transaction authorization.
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A Democratic-backed bill that represents the most sweeping response yet to the problem of gambling addiction would ban the use of credit cards in sports gambling.
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Canada and Australia de-emphasize government-backed digital currency projects while Morgan Stanley and BTIG criticize Global Payments' strategy as the processor's stock slides.
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Antitrust enforcers are preparing to accuse the payments giant of taking steps to keep rivals from challenging its dominance in the debit card market, according to people familiar with the matter.
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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JPMorgan Chase has made an equity investment of an undisclosed size in InvestCloud, a startup that provides cloud-based software to the securities industry.
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MUFG Union Bank has named a head of private wealth management for its northern California and Pacific Northwest region.
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When a mobile banking vendor told a San Antonio Federal Credit Union it didn't have the capabilities it wanted, the institution took a note from Facebook's strategy with Messenger and created a companion app.
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The bureau issued an interpretive rule clarifying that consumers under certain conditions can modify or waive waiting periods required by the Truth in Lending Act and Real Estate Settlement Procedures Act.
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The lenders are bracing for spikes in delinquencies or defaults on loans to a sector heavily punished by social distancing measures.
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The company’s latest Credit Union Trends Report predicts that membership and lending will stall as job losses rise and consumer demand for loans dries up.
The availability and visibility of Bank On-certified accounts, which aim to expand banking access, is contributing to a decrease in the percentage of U.S. households that are unbanked, according to bankers and government officials.
The House of Representatives passed a joint resolution to nullify the rule finalized by the agency last and prohibiting it from implementing similar reforms in the future. It will now go to the president's desk for his signature.
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The indictment of Senate Banking Committee member Bob Menendez, D-N.J., on bribery and corruption charges may not have a lot of impact on banks' near-term legislative priorities, but it is emblematic of a deeper struggle to preserve the rule of law.
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Long-term business profit is inextricably tied to sustainability. The head of the U.K.'s Chartered Banker Institute explains that financial services leaders have a special responsibility to understand and communicate that fact.
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During Hunger Action Month, firms in the payments and fintech space should consider the many ways they can leverage their products to improve Americans' access to healthy foods.
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JPMorgan's Ben Carpenter will join Evercore as a senior managing director; Wells Fargo appoints Jackie Krese to head syndications within its fund finance group; the SEC is probing Jefferies over its relationship to bankrupt auto parts supplier First Brands Group; and more in this week's banking news roundup.
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The agency is weighing costly infrastructure needs, fraud risks and long-term decline in check use as it solicits public input on the possibility of winding down checks following an executive order phasing out paper in federal payments.
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The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. announced Friday that they are withdrawing from a 2013 interagency leveraged lending guidance, arguing it was overly restrictive, pushed activity to nonbanks and sidestepped official rulemaking.
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The Trump administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year.
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The state is requiring merchants to accept cash denominations of $20 and under and prohibits them from charging extra to accept cash. The law, which goes into effect in March, comes as merchants are responding to the Trump administration's abrupt cancellation of penny production.
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A bipartisan housing provision has emerged as a critical negotiating point for passage of an uncommonly bank-relevant defense authorization bill.
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U.S. commercial banks and savings banks have reduced employment by nearly 81,000 since the first quarter of 2023, including a net loss of 7,463 positions during the third quarter of this year, according to a new report from KRBA Financial Intelligence. Big banks, which have been embracing artificial intelligence, were big contributors to the decline.
The activist investor HoldCo Asset Management alleges that Comerica and Fifth Third used a "flawed" process to arrive at a $10.9 billion merger agreement. On Tuesday, a Delaware judge said she will hold a hearing to determine if the banks omitted material information in their public disclosures.
The 23rd annual ranking of women leaders in the banking industry.
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