The Federal Reserve Board of Governors voted Wednesday to reappoint 11 sitting regional Fed presidents, without any dissents. The move precludes any effort the White House might have made to pressure the board to deny reappointments.
Mobile phones are only going to become a bigger part of how banks interact with their customers, so several institutions are looking to enhance that experience. They are focusing on better ways of opening accounts, verifying identities, interacting with customers and offering new services and features. Here are some of the improvements announced this year.
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Visa and Mastercard face pressure to lower payment charges globally, while the London-based fintech receives more fraud reports than the country's largest banks.
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Purchases on the company's credit cards fell 4% as some customers traded down to cheaper goods or skipped discretionary spending. But CEO Brian Doubles said consumers remain in "pretty good shape" as they manage their budgets.
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The Swedish company struck a deal to offload buy-now, pay-later loans that it originates in the U.K. as it looks for ways to free up capital ahead of its public debut.
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 jobs of chief investment officer departments and financial advisers are likely to change as banks and stand-alone wealth managers adopt artificial intelligence to inform the advice they give clients.
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The Minneapolis company's addition of Karen Wimbish, a former Wells Fargo executive, to oversee wealth management products is one of several moves by U.S. Bancorp as it builds up its investment-advisory services.
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It is time for financial services to rethink retirement savings given changing work habits, customers' expectations of technology and the need for better transparency in 401(k)s.
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Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.
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The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the pandemic.
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University Bancorp decided to shutter its wholesale mortgage lending business after it struggled to hire and train employees remotely.
The Federal Reserve and OCC approved the company's plan to buy Independent Bank Group in Texas, putting the deal on track to close early next year as expected. In an atmosphere of M&A delays for banks, the deal is on a relatively smooth path.
In a letter to the Office of the Comptroller of the Currency, the American Bankers Association rebuffed state regulators' calls to rescind the agency's broad state preemption rule, defending federal law's supremacy in the dual banking system.
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Two-thirds of American adults report experiencing financial trauma in their lives, and the vast majority say they are still feeling its negative effects. Improving financial literacy can help.
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The head of the Consumer Bankers Association takes issue with a recent BankThink article questioning bank CEOs' commitment to promises made in response to the Black Lives Matter movement.
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There are three concrete steps policymakers and industry can pursue that will limit the damage that is being done by cutting vulnerable populations off from remittance payments.
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PayPal and other fintechs already offer small business loans based on future payment flows, creating a competitive market.
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The lawsuit alleges the fintech giant secured its own corporate data with strong MFA while leaving client systems vulnerable to compromise.
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A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.
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The Texas-based community bank is turning itself into a "digital asset financial institution" as the Trump administration pushes crypto-friendly policy and other banks make their bids.
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KeyCorp CEO Chris Gorman said Tuesday that the bank has doubled its buyback plans for the fourth quarter and laid out a new long-term profitability target. The comments came a few days after HoldCo Asset Management issued a scathing report about the bank's performance.
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Democratic senators are calling for Senate Banking Committee Chairman Tim Scott to compel the acting director of the Consumer Financial Protection Bureau to testify.
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Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.
In a sternly worded letter, Sen. Elizabeth Warren and Rep. Maxine Waters demanded to know why federal agencies haven't provided more guidance since the one-cent coin was discontinued. They accused the Trump administration of making an "abrupt and unilateral decision" without thinking it through.
The 23rd annual ranking of women leaders in the banking industry.
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