The Montreal-based bank brought its earned media value up to $1 million by building an internal system for employees to share social posts about BMO.
Banks have mainly shied away from programs that invite hackers to scrutinize their applications. But PayPal, Western Union and others who have tried them say bug bounty programs are an effective way of making apps more secure.
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Bankers and financial services professionals should be monitoring the rollout of the EU Digital Identity Wallet initiative, as it signals changes likely to arrive in the U.S.
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The government-backed instant processing network has been live only since the summer of 2023, but it's already indirectly boosting usage at an unrelated bank-led rail from The Clearing House.
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Fizz offers a card that enables undergrads to slowly build a debt record based on healthy spending habits, providing an alternative as regulators pressure how financial services are marketed to that demographic.
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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Wells Fargo said it does not have any immediate plans to acquire a wealth management business in the U.K., following media reports that it's looking at two companies.
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Dave McKay, the president and CEO of Royal Bank of Canada, has spent much of his time as head of the second-largest Canadian bank plotting the acquisition of the coveted $36 billion-asset City National in Los Angeles. Now he has to execute on a strategy of cross-selling products to affluent customers of both banks while expanding geographically.
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USAA has partnered with Coinbase to let users view their bitcoin wallet balances, an added financial management tool indicative of a kind of bundling of non-bank financial services it hopes will differentiate it from its competitors.
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HELOCs and second mortgages at credit unions are on the decline amid increasing refis and shifts in consumer sentiment about borrowing against their home’s value.
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The lawmakers say they need more information about the administration’s plans in order to conduct proper oversight.
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Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting homeownership for low- and moderate-income residents.
Analysts peppered CEO Jane Fraser with questions about whether Citigroup, already hit hard by its regulators, could face asset growth restrictions. She said there is "absolutely nothing" in the works that could impact the megabank's businesses.
The Federal Reserve governor remains optimistic about tariffs being a one-time shock to prices, but the central bank still needs more clarity about what the policies will look like.
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Banks and credit unions have come out against the Consumer Financial Protection Bureau's proposal to cut credit card late fees to $8, saying that figure is too low to cover costs. Finding a more suitable number might save the bureau a lot of trouble.
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Further changes to field of membership rules will result in credit unions so big that they lose focus on the communities they were chartered to serve.
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CEOs have to determine if this is really a viable business in a viable sector and whether these deposits can be safely used to support the fundamental mission of providing credit to the community.
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The parent of Crosscountry Mortgage plans to use proceeds to pay down its mortgage-servicing rights line of credit as well as for general corporate expenses.
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Kunal Mehta, also known by the alias "Shrek," used shell companies and bulk cash drops to clean millions for a cybercrime ring that stole $263 million.
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Federal Reserve Gov. Stephen Miran argues that banks holding excess reserves are keeping the central bank's balance sheet bigger than it should be, and suggested that regulatory changes could help bring those reserves down.
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Travis Hill's nomination to lead the Federal Deposit Insurance Corp. was recommended favorably by the Senate Banking Committee to the full Senate Wednesday morning in a 13-11 party-line vote.
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President Trump has nominated Stuart Levenbach, associate director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for at least another 210 days.
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Advances from the Federal Home Loan Banks dipped in the third quarter, but experts do not necessarily see the dip as a sign of ample liquidity in the economy.
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The Consumer Financial Protection Bureau, building on an executive order by President Trump, wants to eliminate the legal framework of "disparate impact" from its implementation of the Equal Credit Opportunity Act.
Acquisition talks fell through in the final hours, according to reports. Also: Visa launched another stablecoin pilot on Visa Direct; the Bank of England seeks input on stablecoin restrictions; and more in this week's global payments roundup.
The 23rd annual ranking of women leaders in the banking industry.







































































