Zelle secured a deal with Alacriti to help Alacriti's bank clients adopt person-to-person payments; Paze teamed up with Canadian payment processor Nuvei to expand merchant use of the wallet.
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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JPMorgan Chase, Wells Fargo and Mastercard will extend Hello Alice's do-it-yourself "business health" score to entrepreneurs looking to improve their creditworthiness.
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Finaro, Northmill and NMI are joining with the card network to expand contactless payment acceptance via smartphones without add-on hardware.
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Circle has proposed using central bank digital currencies as part of a backstop to mitigate the same sort of risk that caused its own coin to lose its peg to the U.S. dollar during the run on Silicon Valley Bank.
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Despite low rates, bank sales of annuities held steady in June, at $2.8 billion, the Kehrer-Limra consulting firm says.
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Scout Investment Advisors, a Kansas City, Mo., unit of UMB Financial Corp., announced Thursday that it had signed a definitive agreement to buy Reams Asset Management Co. of Columbus, Ind. The deal would more than double its assets under management.
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The recently enacted tax reform bill is likely to encourage more consumers to rent instead of buy and tamp down the rapid rise in home prices.
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Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a
$45 million settlement this week related to foreclosure abuses.
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Credit unions make strategic hires, promotions to beef up their loan departments and other professionals in the news.
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.
American Bank of Oklahoma agreed to a consent order in August to settle allegations from the Department of Justice over redlining. However, the institution strenuously objected to references to the Tulsa Race Massacre in the agreement and asked that the language be stricken.
A huge amount of money has flowed into the election from cryptocurrency interests, setting up a different financial policy scene, including for bankers, next year.
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Many consumers started using digital payments out of necessity once the pandemic struck. They may continue as it recedes because they like the convenience.
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During the crises, most of the investment is going toward mature fintechs, creating more challenges for startups, says Global Processing Services' Richard Hodgson.
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As risk rises and budgets tighten post-pandemic, training all employees about security risks and conducting quarterly penetration tests helps to offset threats and potential losses.
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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 proposed Berkshire Hills-Brookline merger is expected to finalize on Sept. 1; Flagstar Financial has scheduled a special shareholders' meeting to simplify the bank's regulatory structure; former Credit Suisse executives agreed to settle a suit filed by shareholders claiming they failed to maintain adequate risk management; and more in this week's banking news roundup.
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Housing regulator Bill Pulte lodged more fraud allegations against Fed Governor Lisa Cook as she filed a temporary restraining order regarding attempts to remove her.
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Online lenders are urging the Office of the Comptroller of the Currency to force banks to disclose all account closures to the agency, following an executive order earlier this month.
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In a letter Friday, U.S. Sens. Elizabeth Warren, D-Mass., Chuck Schumer, D-N.Y., and Cory Booker, D-N.J., called on Pulte to address housing unaffordability instead of concentrating on efforts to destabilize the Federal Reserve.
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The Office of Management and Budget under President Donald Trump has not apportioned any discretionary awards to financial institutions in the fiscal year of 2025, according to new documents released by the agency.
Brex's second license in the European Union is a key step in cementing turning payment relationships in the EU into broader financial relationships, including card issuing and cross-selling.
The 23rd annual ranking of women leaders in the banking industry.
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