The $18.6 billion-asset Muncie, Indiana-based company agreed to pay $241 million in stock to acquire First Savings Financial Group and expand into the Southern end of the Hoosier state.
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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Elon Musk's vision of an everything app that includes banking capabilities may not be what Americans are looking for, said Max Levchin, who co-founded PayPal with the world's richest man.
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In her day-to-day job directing activities at the card network's Start Path accelerator, Sabrina Tharani helps nurture companies that are developing new payments products and services.
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The bank hasn't explained why person-to-person payments, bill processing and account-transfer services went down for parts of two days this week. But observers suspect glitches in its legacy systems could occur at other financial institutions and increasingly affect real-time payment networks.
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Pacific Investment Management Co., manager of the world's largest mutual fund, is raising at least $1 billion for a private fund to buy troubled loans from banks divesting assets to meet new rules, said two people briefed on the plans.
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As fee-oriented investment management becomes more popular with advisers and clients, fee-structured accounts are growing apace. Or not, depending on how the terms are defined.
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Willard "Bill" Jonathan Tillotson Jr. followed Rule No. 1 in succession planning: He started early. So when he died, control of the Pittsburgh financial advisory firm he helped build in the 1960s passed as expected to his daughter, Kim Tillotson Fleming, and the company's small group of employee-shareholders.
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Ruoff Financial will make its first push into banking with the purchase of SBB Bancshares.
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The groups applauded a proposal to establish minimum GSE capital requirements, but called for more immediate steps to release the companies from conservatorship.
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Risk management and technology systems at the Federal Housing Administration lag decades behind Fannie Mae and Freddie Mac and desperately need to be revamped, according to a top official at HUD.
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.
Royal Bank of Canada hopes to save money by moving positions from high-cost California to Vancouver. The Toronto-based company is looking to cut costs as it seeks to bolster the earnings of its Los Angeles-based City National Bank subsidiary.
Reps. Andy Barr, R-Ky., and French Hill, R-Ark., leading Republicans on the House Financial Services Committee, pushed back against Federal Deposit Insurance Corp. Chair Martin Gruenberg's characterization of the Synapse collapse in his July brokered deposits proposal.
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To embrace social commerce, merchants should prioritize data privacy, communication of delivery timelines and a seamless checkout experience.
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There are new regulations to address, but many requirements streamline current AML practices, says Mark Srere, an attorney at Bryan Cave Leighton Paisner.
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A comprehensive strategy around when and how consumers pay bills online can better help credit unions understand members' behavior patterns and deepen those relationships.
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The company is selling its Genius platform to large restaurant and entertainment companies in an attempt to counter the wave of improvements from its rivals.
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Federal Reserve Bank of St. Louis President Alberto G. Musalem would not directly say whether central bank independence is under threat, instead highlighting that the topic has received more attention.
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Stablecore, a recently founded fintech, completed its first funding round with the goal of bringing stablecoin technology to banks and credit unions.
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Prior to this week's Federal Open Market Committee meeting, many onlookers thought a Trump-aligned and oppositional voting bloc could emerge, complicating the central bank's message. But the quarterly economic projections show that not to be the case.
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Signs of elevated stress are emerging within the $1.7 trillion private credit market as default rates are rising and more borrowers are choosing to defer cash interest payments, according to a Bank of America Corp. report.
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Triumph Financial took steps to guard and move scores of cars backing its $23 million loan to Tricolor Holdings after the subprime auto lender filed for bankruptcy last week.
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The bank is selling a bundle of products that enable businesses to store global currencies inside the U.S. in FDIC-insured accounts, lowering foreign exchange risk and reliance on third parties.
The White House has appealed a D.C. District Court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the Fed board pending the outcome of her challenge to President Trump's moves to fire her.
The 23rd annual ranking of women leaders in the banking industry.
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