Washington Federal Bank and Planet Home Lending are both off the hook for the remainder of their consent orders, which the bureau quietly terminated.
In The Members Group's innovation lab, engineers have been tinkering with an app that lets Glass users tap to make a payment.
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The product, which is both popular and controversial in consumer financial services, is attracting interest from merchants that don't want to pay high interest for a traditional loan.
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Corporations are leaning harder on virtual cards as post-pandemic business travel ramps up amid hybrid work arrangements, according to a new Mastercard survey. Visa separately has extended its collaboration with virtual-card technology provider Conferma Pay.
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Fraudsters are using sophisticated skimming devices to steal more card data — and they aren't afraid to encroach on bank property to do so, according to new data from Fair Isaac Corp.
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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New York Life Investments has agreed to acquire a majority stake in Private Advisors LLC, a fund of hedge funds manager in Richmond, Va.
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The announcement comes as Fannie Mae promoted David Benson to serve as president of the government-sponsored enterprise.
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The company now serves more than 1,000 credit unions.
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The Dallas bank reported sizable growth in business and mortgage lending in the second quarter, but it more than doubled its provision for loan losses to cover four credits that went into nonaccrual status.
Investors drove up the stock prices of both companies after Ally Financial said it's selling its point-of-sale lending business to Synchrony Financial. The deal is expected to help Ally focus on its bread-and-butter auto lending business, while also aiding Synchrony's efforts to gain market share.
Unity Bank in Clinton, NJ, now offers EV charging stations in a collaboration with Encore Energy Group; fintech Beneficient announced its agreement to acquire Puerto Rico-based Mercantile Bank; Trump named payments exec Jared Isaacman to run NASA; and more in this week's banking news roundup.
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The Federal Reserve and other central banks deciding whether to compete with private cryptocurrencies should heed the financial stability risks, such as expanding the economic power of governments and altering longstanding payments models.
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Banks face increasing competition from fintechs, third-party lenders and large technology companies as customer demands evolve, says Mastercard's Fabrizio Burlando.
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he regulatory establishment in the U.S. and Europe, the DeFi market has too much momentum, contends blockchain investor Giamo Arcaro.
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There's no designated lender of last resort for nonbank stablecoin issuers in either the recently-passed stablecoin bill or the crypto market structure bill being considered, which experts say could mean bailouts down the road.
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QNB's proposed $41 million deal to acquire The Victory Bancorp in Limerick, Pennsylvania, is set to create a community bank with $2.4 billion of assets.
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Many express frustration with either real or perceived doubts about clients' concerns, but experts say they're missing an opportunity to address them up front.
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The operation washed checks stolen from USPS boxes and used "money mules" recruited on Instagram, causing financial and personal distress for victims.
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The money transfer fintech expanded its Austin office 200% to 90,000 square feet as it looks toward accelerating growth in North America. The company also separately inked a new partnership with Upwork to add Wise Platform as an infrastructure provider for freelancer payouts.
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Federal Reserve Chair Jerome Powell said in a speech Tuesday that the central bank's policy stance is "modestly restrictive," a stance that will give the central bank flexibility to react to an uncertain economic future.
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The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
The 23rd annual ranking of women leaders in the banking industry.





































































