The Consumer Financial Protection Bureau is rescinding two rules issued under former CFPB Director Rohit Chopra that required nonbanks to register court orders, plus terms and conditions of contracts.
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.
-
The median interest rate that large credit card issuers charged consumers with good credit in the first half of 2023 was 28.2%, compared with 18.15% at smaller banks and credit unions, according to a study by the Consumer Financial Protection Bureau, which is on a campaign against excessive fees.
-
Sens. Sherrod Brown of Ohio, Jack Reed of Rhode Island and Elizabeth Warren of Massachusetts asked Early Warning Services, which operates the payment platform Zelle, to clarify its reimbursement policy around impostor scams.
-
Ex-State Street exec joins Citizens Financial's board, payment software firm Toast will cut workers, Visa rolls out enhanced digital wallet tools and more in the weekly banking news roundup.
-
Letting the numbers speak for themselves, Bank of America has sent a message to anyone still disgruntled over its $29.1 billion purchase of Merrill Lynch. And that message is: "I told you so."
-
Bank of America Corp.'s Merrill Lynch named John Thiel as the new head of U.S. Wealth Management, one of the top positions in the bank's Global Wealth & Investment Management group, according to an internal memo.
-
Carlyle Group, the buyout firm that on Wednesday unveiled another major investment in the banking sector, distributed more than $6.4 billion to investors in the first quarter.
-
The Boston company gained the mortgage platform when it bought First Choice in 2017.
-
New FHFA Director Mark Calabria isn't just charting a future for Fannie Mae and Freddie Mac, but also fixing problems resulting from the "qualified mortgage" exemption for the GSEs and taking a "deep dive" into problems in the mortgage servicing market.
-
The two banks’ CEOs used a public hearing to argue their merger will be a boon for underserved markets. But other speakers warned that bank consolidation hurts communities.
So-called containers can lessen the IT workload and help companies bring applications into the cloud. New security and management tools, like automatic patching, are bringing containers into the mainstream.
New top executives were lined up for lenders across the West and Midwest, including Bank of North Dakota.
The Financial Integrity and Regulation Management Act would stop prudential regulators from writing rules or guidance that involve any use of reputational risk in supervision.
-
The Biden administration's decision to fill the Republican seats on the Federal Deposit Insurance Corp. board only makes sense if it was a mistake.
-
Investor activity in the housing market has had a nominal impact on the cost of housing, the head of the National Rental Home Council writes, citing research by one of the government-sponsored enterprises. Supply-demand imbalance is the primary driver of price appreciation, he argues.
-
Reports of the death of branch banking have been greatly exaggerated.
-
There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.
-
The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.
-
Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.
-
The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.
-
From baby boomers' family needs to the fearlessness of Gen Z, three bank executives discussed the work habits of different age groups at American Banker's Most Powerful Women in Banking conference.
-
The bank asks a federal court to toss claims from five certified classes, arguing victims have been paid and that fraudsters are included in the suit.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.
The Cincinnati, Ohio-based bank delivered third-quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from First Heritage Mortgage Services
- Partner Insights from Accenture
- Sponsor content from Modo Modo
- Sponsor Content from Oracle