Anchorage Digital Bank, Custodia Bank and Erebor Bank could be among the first recipients of limited, special-purpose payment accounts recently floated by Federal Reserve Gov. Christopher Waller.
Wells Fargo in San Francisco said that its chief information officer will retire at the end of March.
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The combined company could streamline card payments in a manner similar to American Express' "three party network" — while also doing more with artificial intelligence and other technologies.
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The blockbuster merger proposal will be reviewed at a time when the Biden administration is expressing skepticism about consolidation. Its analysis will have to account for markets dominated by both big banks and the likes of Visa and Mastercard.
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Data, volume and potential regulatory carve-outs are among the benefits Capital One Financial would get upon the completion of its deal to buy Discover Financial Services.
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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U.S. senators formally referred to the Justice Department and the Securities and Exchange Commission an investigative report that found that Goldman Sachs Group Inc. misled clients about mortgage-linked securities.
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A 20-year veteran of State Street, CEO Jay Hooley concluded that the custodial bank's business model did not have to fundamentally change — it just had to keep up with investors whose strategies did.
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The industry welcomed a proposed overhaul of how the government identifies False Claims Act violations, but some say it remains to be seen if the changes are enough to satisfy companies that had bolted.
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Bank 34 will no longer sell mortgages in the secondary market as it looks to reduce its reliance on volatile revenue streams.
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Two nonprofits threatened by the effort say the Department of Housing and Urban Development tried to avoid scrutiny last month when it announced the new policy outside the formal rulemaking process.
Maryland-based Forbright Bank, which is led by a onetime Democratic presidential candidate, relied extensively on brokered deposits as it grew after a 2021 rebranding. The bank says it has made changes in response to regulators' concerns.
Federal Reserve Gov. Michelle Bowman, one of the central bank's more inflation-wary officials, said the balance of risks for monetary policymaking could soon shift.
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The Federal Home Loan banks and their clients were well represented in the Federal Housing Finance Agency's recent "listening tour." The public, not so much.
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Legislation that would make it simpler for banks to work with cannabis firms is always just about to arrive. But it never does.
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The Biden administration is methodically laying out a regulatory framework for crypto markets, but until that is in place it's allowing those markets to reap what they have sown.
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The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.
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The agents could overcome the consumer inertia that keeps people in low-yield bank accounts, the consultants say.
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The credit card issuer added two programs with home goods retailers Raymour and Flanigan and Bed Bath and Beyond during the quarter while also increasing its stock buyback allocation and dividend payouts.
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A cohort of more than 100 Republican members of Congress sent a letter to Treasury Secretary Scott Bessent urging the administration to protect and fund a community lending program that has been gutted despite its legal mandate and Bessent's backing.
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The company's software automates much of the process of getting money transmitter, lending and other types of licenses.
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The company is leveraging its bank charter and strong customer acquisition, with app logins up nearly 50% from borrowers.
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The BNPL lender is launching a three-day shopping event that pushes 0% financing offers to draw more consumers into the app and increase sales volumes for merchants ahead of the holiday season.
While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.
The 23rd annual ranking of women leaders in the banking industry.
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