Panelists at a JPMorganChase webinar said oil shipping security is shaky, creating risk of a new wave of inflation that would impact energy finance. Other analysts said the war will create pressure for some parts of the payments industry.
A need for risk-focused data aggregation and analytics tools is at the heart of IBM's latest acquisition for its bank consulting portfolio.
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Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.
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The BNPL lender is launching a three-day shopping event that pushes 0% financing offers to draw more consumers into the app and increase sales volumes for merchants ahead of the holiday season.
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The bank technology company has released Smart Basket, which uses emerging artificial intelligence to improve transaction routing, a strategy that's quickly becoming table stakes for fintechs and financial institutions that offer payments.
A recent survey showed a majority of banks use generative AI, mainly for tasks like writing emails and detecting fraud, but few say they have built customer-facing products with it.
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The former JPMorgan Chase executive will will replace Jim Hays, who is retiring.
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The company is focusing on the future of online retail banking. Next on its agenda: real people in its wealth management division.
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The funds will help the Podolsk Regional Development Agency supply refugees of the Russian invasion with basic necessities such as food and water.
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The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.
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The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.
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Between a new partnership with REdistribute and two other agreements, the mortgage technology company says it has access to over 90% of property listing data.
The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.
Under a proposed rule, the agency would let most nationally chartered firms off the hook for heightened regulatory standards. The rule would raise the bar from $50 billion to $700 billion of assets and leave only eight firms subject to heightened regulation.
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The probability of a trade war-induced recession is unclear and fluctuates almost daily. However, the possibility is real enough that banks have a responsibility to prepare for a serious economic downturn on par with the 2008 financial crisis.
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The GENIUS Act, in its current form, fails to account for the substantial risk of stablecoin runs and blocks regulators from imposing necessary oversight. It also lacks measures to prevent their use in illicit transactions.
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A new stablecoin bill threatens to balloon federal borrowing and increase the deficit, while a change to bank capital rules would vest the Treasury with power that should rest with the Federal Reserve.
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The proposed national trust charter company would be a wholly owned subsidiary of Morgan Stanley. The application was filed on Feb. 18.
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Fulton Financial received the necessary approvals to acquire Blue Foundry Bancorp; JPMorgan hired two Bank of America health care veterans while shuffling leadership; Mizuho Financial Group has plans to replace about 5,000 administrative jobs with artificial intelligence over the next 10 years; and more in this week's banking news roundup.
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Preferred Bank moved a $115 million block of loans to nonaccrual status after the borrower, which is battling fraud charges leveled by other banks, began missing payments.
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A final rule published by the Office of the Comptroller of the Currency Friday will formalize a 2021 interpretive guidance allowing national trust banks to perform non-fiduciary custody. The banking industry complained that the rule runs counter to the traditional scope of the charter.
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The payments company will fire about 40% of its employees, with CEO Jack Dorsey attributing the move to the impact of artificial intelligence. While investors cheered the move, analysts also raised questions about the company's functionality, and Dorsey said other companies will make similar moves.
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A new report from Cerulli Associates shows older, affluent investors are far more skeptical of AI use than their younger counterparts. Financial advisors who use AI tools in their practices say transparency is key to setting wary clients at ease.
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Experts said that judges reviewing ongoing litigation between the Consumer Financial Protection Bureau and its employee union seem inclined to allow reductions in force to proceed if the CFPB presented a credible plan for running the agency.
MBS buying has become the near-term focus but a 2026 offering is still possible, Federal Housing Finance Agency official Bill Pulte told Fox Business.
The 23rd annual ranking of women leaders in the banking industry.
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