The megabank cleared a regulatory hurdle when the Office of the Comptroller of the Currency freed it from a July 2024 amendment to a consent order. Two other orders, one from the OCC and the other from the Federal Reserve, remain in place.
Artificial intelligence is moving from science fiction to practical reality fast, and it's in banks' best interest to gear up now for the changes ahead. Here are some strategies to consider.
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The card brand uses a new form of generative AI that improves data sourcing, making human involvement less necessary.
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Real-time payments and FedNow were top of mind at The Clearing House's annual conference this week. Here's how banks and payment companies see RTP's potential evolution.
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The Financial Conduct Authority plans to regulate specific technology products that banks use to process payments and require testing. That and more in our global payments roundup.
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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The funding comes as the financial services industry continues to search for safer ways for customers to share their account data with third-party apps.
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State Street won $110 billion of new asset-servicing business in the quarter.
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The startup Dave (just Dave) sells an app that forecasts short-term bank balances and sends users small-dollar advances when necessary, part of a wave of efforts to improve consumers’ financial health using digital tools.
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Fannie Mae and Freddie Mac have imposed heavy price adjustments for loans that were granted relief under the pandemic relief law enacted in March.
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The national conversation around systemic racism has compelled large banks to withdraw support from the “disparate impact” proposal. But community banks maintain that the proposed reforms would reduce frivolous claims.
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The Federal Housing Finance Agency will extend the same GSE benchmarks of the past three years into 2021.
Regulatory shifts and loan growth are some of the hot-button topics banks will seek to address as they start sharing their fourth-quarter reports next week.
The Trump administration plans to stop minting the one-cent coins early next year. Here are the potential consequences that banks and credit unions should prepare for.
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While medical debt is not a problem created by the financial services industry, the industry has a critical role to play in addressing it.
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As innovation in other domains accelerates, the inertia plaguing our international payment systems is a critical bottleneck, stifling U.S. businesses that choose to engage in global commerce.
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Several factors are combining that make it more likely bitcoin and other cryptocurrencies will become mainstream assets in 2024.
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The Birmingham-based lender is opening its first branch in Houston, following a wave of banks rushing into the Lone Star State as its economy continues to boom.
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Early Warning's online checkout tool signed a multi-year partnership with NYCFC to be the official online checkout and digital wallet of the Major League Soccer franchise and a founding partner of its forthcoming stadium, Etihad Park.
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The Federal Deposit Insurance Corp. issued a proposal setting application criteria for banks to issue stablecoins and sets a strict timeline under which banks may have their applications reviewed. The agency also reduced deposit insurance assessments for banks and slashed its 2026 proposed budget at a board meeting Tuesday morning.
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The Bureau of Labor Statistics Tuesday reported that the economy added 64,000 jobs in November after posting a loss of 105,000 jobs in October, which was largely attributable to the onset of the government's deferred resignation program. Unemployment also ticked up to 4.6% from 4.4% in November.
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These are the executives, regulators, investors, disruptors and firebrands who will have the biggest impact on bankers in the coming year.
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A new report from the Basel, Switzerland-based Financial Stability Board found that nonbank financial institutions grew considerably faster than banks in 2024 and now control more than half of the world's financial assets.
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Pornographers, private-prison operators and digital-asset firms were among the industries that major banks curbed ties with over moral or reputational concerns, according to the Office of the Comptroller of the Currency's preliminary findings in its "debanking" probe launched earlier this year.
Brex is powering Fifth Third's commercial card issuance in a move that boosts the fintech's distribution network and provides the bank with a more competitive commercial card proposition.
The 23rd annual ranking of women leaders in the banking industry.
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