By pairing its real-time transfer app with China's UnionPay card, Visa is pursuing business in the huge country, where shifting regulations create hurdles for outside companies.
Tech startups differ from a bank’s typical commercial clients; many want a trusted financial adviser.
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The stock started trading at $31 and closed Monday at $263.45. Circle has been the main beneficiary of the euphoria surrounding stablecoin regulations, as it is one of the few publicly traded companies with stablecoin-linked assets.
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Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.
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The financial technology seller plans its own coin and interoperability with PayPal's PYUSD, potentially reaching millions of consumers and merchants and thousands of banks.
Upstart, which specializes in the use of alternative data and AI in credit decisions, will make car loans directly and sell its technology to banks and other lenders.
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The Money Anxiety Index, a measure of consumer saving and spending habits, has started rising off a 50-year low. The economist who created it says that means another slump is nearing, and that banks should use the intel in pricing deposits and making other decisions.
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When a tweet drew backlash from customers and politicians on Monday, it brought into question how banks should couch their messages on social media.
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Making donations for a variety of causes and teaching Boy Scouts about coins are just some of the ways credit unions are helping out in their communities.
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Investors are looking past the current boom in loan activity, fearing that inflation and other factors will cool demand and make it harder for borrowers to make payments.
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These standout performers all reported a three-year return on average equity above 14%. Two of them topped 20%.
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BayFirst Financial Corp. said it initiated the process of shuttering its out-of-state network of residential mortgage loan production offices.
New York's attorney general announces MoneyGram will pay a civil fine to settle a lawsuit over its handling of remittance payments; Swedish buy now/pay later lender Klarna is getting into the telecom business; Truist Financial has hired Charles Alston to lead its new nonprofit hospital, higher education and government banking team; and more in this week's banking news roundup.
An appeals court upheld a nine-figure default judgment against Nexus Services, Libre by Nexus and three individuals who scammed immigrants held in custody by ICE.
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Banks have favored the low-regulation vision of former President Donald Trump in the 2024 election, but his victory could imperil institutions and norms that banks rely on. Vice President Kamala Harris is more likely to preserve the status quo — including the Biden regulatory agenda.
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The Greenhouse Gas Reduction Fund, a major element of the IRA, provides a critical opportunity for banks to integrate green finance into their core strategies.
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It is nonsensical for the government to sue one of the leading lenders in an underserved minority community as a means of encouraging more lending in that community.
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The buy now, pay later lender is carving out a lane for itself with exclusive deals with Intuit's Quickbooks Payments and Expedia's websites. It also will be the default BNPL provider for Bolt's one-click checkout.
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Banking trade associations told the Office of the Comptroller of the Currency that regulators should reform rules around third-party risk, saying concentration and limited choice of core service providers places an undue burden on banks.
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Acquiring the $5.8 billion Northfield Bancorp would give Columbia a presence in both Brooklyn and Staten Island. The deal provides a window into the impact of New York Mayor Zohran Mamdani's plan to freeze rents on the city's multifamily real estate market.
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HP CEO and current PayPal board chair Enrique Lores will take over March 1, following a deep slump in the payment company's key metric.
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Some traditional bankers are unsettled by the wave of crypto and fintech banks getting bank charters. This Nashville bank CEO sees opportunity.
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The Swiss banking giant will come under the spotlight Tuesday at a Senate hearing.where the question of whether a 1999 settlement over Holocaust-looted funds should be reopened is expected to be discussed.
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The Brazil-based fintech got conditional approval from the OCC to bring its digital banking services to U.S. customers.
The 23rd annual ranking of women leaders in the banking industry.
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