The payment company launched new tools for merchants and entered artificial intelligence collaborations with OpenAI and Mastercard ahead of the company's second quarter earnings, which beat analyst expectations.
The House Financial Services Committee approved a data security bill Tuesday that would require all financial companies to have similar security protections and notification requirements as banks.
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The recently announced merger of Capital One and Discover would create a credit card behemoth, but would also create a credible challenger to the Visa-Mastercard duopoly. Regulators will have to choose between having both or neither.
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Capital One Financial's proposed acquisition of Discover Financial Services would create a credit card behemoth with its own payments network. The deal is likely to draw tough regulatory scrutiny, though analysts say there are many compelling strategic reasons for the combination.
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The median interest rate that large credit card issuers charged consumers with good credit in the first half of 2023 was 28.2%, compared with 18.15% at smaller banks and credit unions, according to a study by the Consumer Financial Protection Bureau, which is on a campaign against excessive fees.
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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Independent brokers such as Phillips and Robinson are feeling spied on, muzzled and flat-out disrespected as brokerages struggle to keep regulators happy and brands intact. That said, broker-dealers may be have a point; a clutch of them have been sued or fined into oblivion for selling products that were, at best, too risky for their buyers.
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A decade of pushing to make disclosures by registered investment advisers more user-friendly may now be paying off, although, as with similar reforms in the past, investors will need to make time to read them.
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What to do with a corporate pension can be one of the biggest financial decisions people make when they retire. For advisers like Mark Atherton, it is also one of the trickiest because no two situations are alike.
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The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
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The Boston company gained the mortgage platform when it bought First Choice in 2017.
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New FHFA Director Mark Calabria isn't just charting a future for Fannie Mae and Freddie Mac, but also fixing problems resulting from the "qualified mortgage" exemption for the GSEs and taking a "deep dive" into problems in the mortgage servicing market.
Old Glory Bank, which has ties to conservative political figures and touts itself as "pro-America," needs to raise more capital to meet its regulator's requirements. "Failure is not an option. We're going to figure this out," the bank's president and CEO said.
A pair of Congressional Review Act resolutions directed at the Consumer Financial Protection Bureau's overdraft and larger participant rules are expected to make it to President Donald Trump's desk.
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The claim that these arrangements are unregulated is inaccurate, and instead, more oversight would destroy the benefits of banks working with fintechs on consumer products.
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Leaders who set clear expectations do not create hostile settings. If anything, good people are motivated knowing what they do is noticed and matters.
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The Biden administration's decision to fill the Republican seats on the Federal Deposit Insurance Corp. board only makes sense if it was a mistake.
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U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.
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Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.
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In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.
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Farmers National Banc Corp. in Ohio plans to acquire in-state rival Middlefield Banc Corp. in a deal that will deepen the buyer's footprint in Columbus.
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An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.
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U.K. regulators approved the acquisition, which is part of Global Payments' plan to scale its point of sale restructuring.
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Federal Reserve Governor Michael Barr said strong oversight mechanisms and consumer protections are needed for stablecoins to make them a more viable payment instrument.
The bank technology company has released Smart Basket, which uses emerging artificial intelligence to improve transaction routing, a strategy that's quickly becoming table stakes for fintechs and financial institutions that offer payments.
The 23rd annual ranking of women leaders in the banking industry.
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