The Office of the Comptroller of the Currency announced that Stephen Lybarger will assume the role of Senior Deputy Comptroller for Chartering and Will Giles will be Principal Deputy Chief Counsel amid a surge in fintech and crypto trust charter applications.
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.
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The world's largest retailer sued Capital One over their four-year-old credit card partnership, saying the bank failed to meet customer service standards. The McLean, Virginia-based bank disputed the allegations, and analysts said that the firm could compensate by landing new credit card partnerships or cutting back on marketing expenses.
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Klarna, Fiserv, Worldline and other tech firms are using artificial intelligence-powered systems such as ChatGPT to modernize their offerings.
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Typically called softPOS or Tap to Pay, the technology allows sellers to receive transactions without add-on hardware. It's becoming a popular payment option for small business and mobile sellers and other users.
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Bank of New York Mellon Corp., the biggest custodian of other firms' assets, is planning what it says is the first online market in Europe to make it easier to trade hard-to-value asset-backed securities.
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The Treasury Department said it intends to sell warrants in Hartford Financial Services Group Inc. and Lincoln National Corp. that it got as part of a bailout of the two insurers.
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Limra is partnering with Smarsh, a provider of secure e-mail archiving solutions compliant with Finra and Securities and Exchange Commission standards, to provide these services to its members.
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Adolfo Marzol, an official at the Department of Housing and Urban Development, is optimistic that technological improvements and other changes can help draw Federal Housing Administration lenders back to the fold.
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Housing finance reform proposals could make it challenging for community banks and credit unions to serve rural mortgage markets, according to a report issued Wednesday by Brookings and the Center for Responsible Lending.
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The credit union encouraged members to save on interest by converting loans they took out elsewhere to Educators Credit Union loans.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
JPMorgan Chase pilots Mastercard's open-banking tech for U.S. bill payment; Benson F. "Buzz" Roberts will retire at year-end as CEO of the National Association of Affordable Housing Lenders; and venture capital firms pour funds into bank vendors.
President Joe Biden, in a speech emphasizing the progress made on the economy during his administration, said he has never called Federal Reserve Chairman Jerome Powell during his time as president.
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The latest cyberattacks pointing to the Russian government show that U.S. federal agencies and banks still lack a clear, collaborative game plan.
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There's a wide open market with plenty of opportunity not just for challenger banks but for financial technology as an industry to set themselves apart from incumbents and gain market share, says Veem's Marwan Forzley.
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Familiar with personalized offers and options from other industries, patients are tired of a one-size-fits-all payment model, says Visitpay's Kent Ivanoff.
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The American Fintech Council wants Congress to amend the Gramm-Leach-Bliley Act to preempt state privacy laws with both entity-level and data-level exemptions, as well as eliminating restrictions on the secondary use of data.
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Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.
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The Cleveland-based credit union recently launched a fractional stock rewards program for members ages 18 to 28 through a partnership with Bits of Stock.
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Most big banks saw modest reductions in their requirements following this year's stress tests. The results come as the Fed prepares to smooth year-to-year swings with a new averaging rule.
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The D.C. District Court held a hearing this morning and defendants filed briefs in a case to determine whether Federal Reserve Gov. Lisa Cook will remain on the Federal Reserve Board after her ostensible firing by President Trump earlier this week. No ruling was issued, but one is expected before the FOMC votes in mid-September.
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Buy now/pay later lender Affirm hit profitability goals for its fiscal year 2025 and set aggressive guidance for fiscal 2026 ahead of Wall Street's estimates. Its stock soared more than 10% Friday.
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The digital bank is working with blockchain technology provider Lightspark to use Bitcoin networks to power its upcoming cross-border payments launch.
The pandemic-era program yielded over $60 billion in fraudulent payments, with prosecutions expected for another five years.
The 23rd annual ranking of women leaders in the banking industry.
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