HoldCo Asset Management drops its pursuit of proxy battles with Columbia Banking System and First Interstate; Cape Cod's Mutual Bancorp prepares to acquire Bluestone Bank; Servbank HoldCo announces plans to acquire IF Bancorp; and more in this week's banking news roundup.
Around the world, technology companies, governments and even some banks are coming up with new, safer and easier ways for people to prove they are who they say they are. Generally the goal is to allow people to be authenticated once by a trusted identity provider (a role banks could play) rather than share sensitive information with countless third parties, as they do today. Here we highlight just a few of the many organizations innovating in this space.
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Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.
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A new Citizens Bank survey suggests rising check-fraud incidents are driving middle-market companies to accelerate plans to fully adopt digital payments. But 70% of all businesses will continue to rely on checks for years to come, according to recent data from the Association for Financial Professionals.
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The bank will use biometric authentication to streamline checkout in stores starting in 2025. It has already completed internal and external pilots of the technology.
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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Bank of America will hire more than 500 advisers in its Merrill Edge unit yearend, nearly doubling the count of employees that work with clients with smaller investment portfolios.
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Charles Schwab Corp. says expanding its investor services unit by a few hundred new retail outlets won't raise a conflict with its own advisor custody business.
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The potential for negative long-term mortgage rates is surfacing around the world, and with global tensions building in the U.S. market, there's a small but growing chance it could happen here, too.
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It’s hard to time the next economic slowdown. But lenders, many with lingering memories of the financial crisis, are taking steps now to limit exposure in commercial real estate, construction and other loan segments.
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These banks posted strong quarterly results at a time when many others struggled with thinner margins and rising expenses.
The military-focused company, which operates an insurer and a $111.7 billion-asset bank, has tangled with regulators during Wayne Peacock's tenure. He will retire in the first half of 2025.
In a surprise move, the Consumer Financial Protection Bureau said that it will not enforce or supervise lenders for the final payday lending rule. The bureau also plans to narrow the scope of the rule.
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Reducing access to funding would harm both homebuyers and communities across the country.
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The Consumer Financial Protection Bureau has taken an important step in saying that it would work to root out unfair practices in all banking services. This is will help ensure all customers are treated fairly.
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The Consumer Financial Protection Bureau is attempting to make broad changes to its authority and expand what counts as discrimination. This could lead to banks to cease offering important services.
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At its first investor day in a decade and a half, the nation's second-largest bank pegged its guidance for return on tangible common equity at a slightly higher level than what it reported last quarter. Not all investors were impressed.
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Voters across the country swung hard to the left in yesterday's off-cycle elections, showing an acute interest on affordability issues ahead of the 2026 midterms.
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Despite record loan applications, Upstart's AI pulled back, causing a revenue miss and raising "incremental uncertainty" about its core underwriting model.
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The megabank is cooperating with a government request for information related to how it decides which customers to bank. It is the second large U.S. bank — along with Bank of America — to disclose such a probe.
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The Minneapolis-based bank is still exploring stablecoin options outside of custody services, but sees opportunity in trade finance, CEO Gunjan Kedia said at The Clearing House Annual Conference in New York Wednesday.
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Large banks seem comfortable paring back their capital positions while they await an updated proposal on the so-called Basel III endgame. The rules are widely expected to be more lax than what was proposed during the Biden administration.
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The payments giant had a "better than expected" fiscal fourth quarter, and said it expected that momentum to carry through the holidays. It's also looking forward to tailwinds brought by the Olympics and the FIFA World Cup in 2026.
Brian McEvoy, chief retail banking officer at Webster Five in Central Massachusetts, says community banks are in a unique position to serve more small businesses. He was a speaker Tuesday at American Banker's 2025 Small Business Banking conference.
The 23rd annual ranking of women leaders in the banking industry.
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