When a Chicago bank crashed, delivering a major blow to the Deposit Insurance Fund, regulators said they suspected fraud. Historically, that's a common story.
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.
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Mastercard's metaverse designs, a guilty plea for fraud conspiracy and more in banking news this week
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As rising inflation and supply-chain shortages create new urgency for businesses to settle transactions quickly, more community banks and credit unions are recognizing the need for instant payments, according to The Clearing House.
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Walmart named PayPal Chief Financial Officer John Rainey as its new finance chief, turning to a company outsider as it seeks to build a financial technology venture and a membership program.
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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Frank Froud, an executive vice president for Bank of New York Mellon, was promoted to head of client management for the U.S. Froud, who previously oversaw client management in Europe, is moving to New York for the new post. Hani Kablawi, who is also an executive vice president, will take over European client management.
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Old Course Investment Partners LLC of Houston, which opened for business seven months ago, plans to double the size of its advisory staff and its assets under management, currently $250 million, in the next 12 months, said Blaine Douglas, one of its managing directors.
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The Securities and Exchange Commission agreed this month to delay for two years a rule under which certain indexed annuities would be treated as securities rather than insurance products.
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WASHINGTON Despite dire predictions by banks and others that new mortgage rules by the Consumer Financial Protection Bureau would cut off access to credit, the industry is performing well two years after the regulations went into effect, according to the agency's top official.
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Mechanics Bank in Walnut Creek, Calif., has entered the residential mortgage market and hired a banker to lead the new loan group.
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The affordable housing market has dried up in major cities across the country. In response, regulators and lenders are looking into new programs to get people back into single-family homes while also exploring ways to encourage multifamily developments.
The small businesses said in a lawsuit that the bank used "misleading marketing and business practices" to rake in processing fees from oversized Paycheck Protection Program loans. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications.
The policy, released Thursday by the New York Fed bank, takes effect Jan. 1. It details which records are subject to disclosure, rules for requesting them and certain exemptions, such as items related to "internal personnel rules and practices."
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High-tech self-service channels can help credit unions effectively and efficiently meet members' needs during a time of social distancing.
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Big data graph analytics allow you to “drill down” into complex interrelationships among organizations, people and transactions, says TigerGraph's Todd Blaschka.
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Online platforms and apps can be utilized to quickly support small businesses and consumers facing unexpected financial hardship.
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In her first speech since being confirmed as the Federal Reserve's vice chair for supervision, Michelle Bowman outlined a set of ambitious pursuits that would overhaul bank regulation and examination.
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In an interview with American Banker following Circle's IPO debut, President Heath Tarbert discussed the stablecoin issuer's go-public timing, the importance of regulation and transparency and how the fintech sees itself working with banks.
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The U.S. economy added 139,000 jobs, a healthy clip that counters the president's calls for a rate cut to bolster the labor market.
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Elon Musk's decision to step away from the Department of Government Efficiency has bankers in wait-and-see mode for what policy plays are next.
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Large language models, bespoke hardware and embedded AI are attracting banks' tech dollars, experts say.
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Richard Fairbank will receive the restricted stock units in recognition of his work related to the integration of Discover into Capital One, the company disclosed.
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New York Attorney General Letitia James is accusing Capital One of deliberately deceiving customers and obscuring higher interest rates. The lawsuit comes less than three months after the CFPB dropped a similar case against the bank.
As banks face mounting check fraud, a newly unsealed indictment reveals how one criminal ring exploited weak spots in the system.
The 23rd annual ranking of women leaders in the banking industry.
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