The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General.
Bank of Missouri knew that using new technology was important in making its business processes more efficient. But its IT team also knew that it had to get buy-in from the employees actually completing the steps as well to see real results.
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The potential deal between the major card networks and merchants would see swipe fees reduced and capped for at least three years, pending approval by the U.S. District Court for the Eastern District of New York.
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The Consumer Financial Protection Bureau plans to release neutral credit card pricing data in the coming months to help consumers get the best deal, according to Director Rohit Chopra. Deceptive reward programs, late fees and data portability remain concerns, too, he says.
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Banks, especially big ones, have become too dependent on hidden-fee income. As the consumer credit market evolves toward greater transparency, the CFPB's rules will be the least of their problems.
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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Jeffrey Gundlach looks set to follow another bond fund star, Bill Gross, into the business of actively managed exchange-traded funds.
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Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, was subpoenaed by the Manhattan District Attorney's office for information on the company's activities leading into the credit crisis, two people familiar with the matter said.
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A former Wachovia Bank manager in Virginia who admitted to stealing $14.1 million from bank clients through a bogus wealth management scheme was sentenced to seven years in prison.
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Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association.
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All of the Seattle company's directors, including CEO Mark Mason, were backed by shareholders despite a challenge by Blue Lion Partners.
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The Michigan-based CUSO has acquired a stake in NestReady, giving it exclusive industry rights on the mortgage technology firm's products.
The Wilmington, North Carolina-based institution is pursuing a model that cuts out the middleman and embeds its services directly into fintech partners' platforms.
Presidents have long rushed to take credit for booms and distanced themselves from busts. But Trump's situation is unusual. The risks to the U.S. economy — potentially including stagflation or even recession — are closely linked to his own flagship initiative: a new tariff bonanza due in just over two weeks.
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SNAP recipients need easy and reliable access to their account balances and transaction histories. The Consumer Financial Protection Bureau ought to clear the way and let that happen.
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The National Credit Union Administration must extend a program allowing credit unions to offer long-term loans for residential solar power installations.
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The measure would reduce access to credit among junior service members, opening the door to payday lenders.
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The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
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American Banker's 2025 Small Business Banking conference yielded lessons about the need for speed, simplicity and safety in small-business lending. Other key takeaways included the significance of digital payment options and the importance of continuing to process SBA loan requests during the government shutdown.
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Nine months after acquiring Heartland Financial, Missouri's largest bank posted a complicated quarter.
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The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.
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Credit analysts say climate risk could still pose a financial threat to financial institutions, even though the federal government has taken an ax to Biden-era climate guidance.
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The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.
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Farmers National Banc Corp. in Ohio plans to acquire in-state rival Middlefield Banc Corp. in a deal that will deepen the buyer's footprint in Columbus.
An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.
The 23rd annual ranking of women leaders in the banking industry.
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