A federal appeals court granted the government's request to pause a ruling that briefly restored Democratic National Credit Union Administration board members Todd Harper and Tanya Otsuka, leaving the regulator with a single board member pending appeal.
Banks can expect to incur higher costs in several areas during the implementation of a settlement agreement to improve the accuracy of credit reports. But they might benefit in the long run by getting better information on borrowers.
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Alyssa Henry will leave Square on October 2 after nine years at the helm, the Block unit said in a regulatory filing. Square founder Jack Dorsey will once again take the reins as chief executive.
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Payments revenue growth is slowing from economic headwinds, lower-cost digital transactions and upstarts cutting into incumbents' profit margins, according to a Boston Consulting Group report. Here's what to expect.
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The product will transform customers' deposits into digital tokens that can be sent instantly anywhere in the world, the company says.
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
The megabank recently received three notices of matters requiring immediate attention, and it also failed regulatory exams, Reuters reported. Since 2020, Citigroup's regulators have been pressuring the company to clean up its risk management systems.
The two bills would require banking agencies to study artificial intelligence and its application in the banking sector, and would codify findings from an earlier AI working group formed by the committee.
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This is not a world for small ideas, and the sooner many narrowly focused upstart financial technology companies come to grips with that reality, the better.
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The Federal Reserve's decision to reexamine the Durbin amendment's Regulation II raises a host of concerns for banks and credit unions over the processing of purchases made online.
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Banks should favor the development of U.S. data rules that let them freely share consumer information with, and receive it from, fintechs. The alternative, where banks merely send data to third parties for a fee, would be less competitive and less beneficial for all parties.
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The Bank of Glen Burnie has bought VA Wholesale Mortgage, a veteran owned-and-operated company which specializes in working with military families.
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Looking for a job at a credit union? Here are the 68 best ones to be employed by, according to the professionals who work there.
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Many credit unions are now offering their workers paid time off for volunteering. Here's how it benefits both employers and employees.
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The Ohio-based bank reports a 10% expense reduction within a year of moving its contact center technology to Google Cloud through a partnership with UJET.
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The Consumer Financial Protection Bureau doubles its anticipated rulemaking agenda from last year, even as bureau employees expect mass layoffs.
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Medallion Financial CEO Andrew Murstein sees more growth on the horizon for the New York lender's fintech banking operation, which saw activity spike in the first half of the year.
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JPMorganChase CEO Jamie Dimon said that his bank can improve its procedures to guard against fraud.
Wilbur Jenkins is the Executive Vice President & Chief Operating Officer at
The 23rd annual ranking of women leaders in the banking industry.
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