The New York megabank, which completed the sale of a 25% equity stake in its Mexico retail business, has been exiting certain international markets as part of CEO Jane Fraser's focus on being a simpler, smaller bank.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
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Section 1033 promised to increase competition in banking and improve the ability to offer novel payment methods, but experts say the regulation isn't clear enough to have a major impact.
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Acting Comptroller of the Currency Michael Hsu said the bankruptcy of Synapse earlier this year highlights regulatory gaps around the state-based licensing of businesses that transfer money.
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Stripe, Circle and Ripple all made deals in recent days to boost scale for a form of cryptocurrency that has struggled to reach mainstream consumers and businesses.
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A consortium of fintech companies have formed a new industry group to advocate for better data sharing via open APIs.
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The San Francisco private bank reported double-digit gains in originations and noninterest income that led to a nearly 30% increase in profits last quarter.
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An international regulatory body outlined a series of recommendations for reducing risks posed by the asset management industry, particularly increasing liquidity and reducing leverage posed by derivatives positions.
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Some lawmakers fear that when forbearance plans and enhanced unemployment coverage expire, the consequences for mortgage borrowers still affected by the pandemic will be severe.
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The FHFA’s proposal is intended to strengthen Fannie Mae and Freddie Mac, but many experts warn that it could boost guarantee fees for lenders that they say may be passed on to borrowers.
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Former Comptroller of the Currency Joseph Otting landed a post with Black Knight, which provides technology solutions to mortgage and real estate companies.
Behavioral biometrics has already stopped several million dollars worth of online banking fraud at National Westminster Bank in London.
JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.
The Department of Justice is seeking to terminate a Biden-era lending discrimination settlement with Lakeland Bank. Last month, the DOJ took similar action in a case involving Mississippi-based Trustmark National Bank.
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A new rule allowing people with long-ago criminal convictions to find employment at credit unions is good for both the industry and for society at large.
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Intuit is shutting down one of the most popular personal financial management sites of its time — which attracted millions of users despite its counterintuitive approach to accessing consumer data.
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Investing in website accessibility isn't just the right thing to do. It also makes good business sense.
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As shoppers embrace new forms of AI, crypto and alternative financing, payment experts say financial institutions will need to reassess traditional payment products.
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Leading Democrats on the Senate Banking Committee sent a letter to Chair Tim Scott, R-S.C., pointing out the as-yet unsatisfied legal requirement for prudential regulators to appear in Congress semiannually.
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Treasury Secretary Bessent said FSOC is readjusting its approach to avoid stifling growth in moves with implications for capital, technology and mortgages.
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The Federal Reserve Board of Governors voted Wednesday to reappoint 11 sitting regional Fed presidents, without any dissents. The move precludes any effort the White House might have made to pressure the board to deny reappointments.
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Enova International, a nonbank lender in Chicago, plans to gain scale by taking over Grasshopper Bank's national bank charter. The deal already faces skepticism from critics of Enova's high-cost lending model.
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The payments fintech reported an $8 billion valuation as it aims to establish a second global headquarters in Silicon Valley and expand into Europe and the U.K.
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The Consumer Financial Protection Bureau's acting Director Russell Vought has an obligation to request funding for the agency, five former Federal Reserve officials said. Plus, three nonprofits sue Vought and the CFPB.
Federal Reserve watchers expect a board of governors vote in February to reappoint the 12 regional Fed bank presidents — which is typically treated as a formality — to be the next flashpoint in the White House's effort to bring the central bank to heel.
The 23rd annual ranking of women leaders in the banking industry.
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