Bank groups, crypto firms and regulators are divided over whether fiduciary digital-asset custody fits naturally within the national trust charter model — or whether, as critics argue, the agency is quietly reinventing the charter.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
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With the payments industry looking for signs of consumer distress, the credit card company says spending is starting to stabilize and it's retaining customers at a strong rate.
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New York Attorney General Letitia James asked a state court for permission to issue subpoenas to Capital One as part of an ongoing antitrust probe by the state,
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With two excellent real-time payments rails now available in the U.S., enabling QR code transactions is essential. The financial services industry needs to come together and establish uniform standards.
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The long-running feud between banks and fintech companies over screen scraping is morphing into a more nuanced and important conversation about how to exchange consumers' financial data securely and fairly.
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The deal points a way forward, not only to resolve the debate over screen scraping and ownership of customer data but to redefine banks' value proposition.
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Customers of JPMorgan Chase will no longer have to surrender their bank credentials in order to use Intuit products like Mint, TurboTax or QuickBooks.
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The Fed chairman updated senators about the agency's new credit facility for midsize firms struggling in the pandemic. He also left open the possibility of additional stress tests to gauge the industry’s coronavirus response.
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As they prepare to exit government conservatorship, Fannie Mae and Freddie Mac have enlisted the investment banks to help them boost capital and evaluate market opportunities.
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The agency flagged faulty risk management and other issues at the Federal Home Loan Bank of Des Moines and Federal Home Loan Bank of San Francisco in exams conducted last year.
An Israeli startup in the emerging B2B2C space that allows consumers to make payments through major messaging apps has completed a $6 million round of funding backed by Banco Santander, Mastercard and other investors.
Richard "Dick" Parsons, the former Citigroup chairman who died Thursday, is credited with helping the New York megabank survive the financial crisis. Earlier in his career, he led Dime Savings Bank out of the savings-and-loan crisis.
The Treasury market experienced unexpected volatility in April after President Trump announced sweeping tariffs, but recovered after the moves were delayed. Some see that as proof of resilience in the market, but others say it highlights vulnerabilities.
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The proposal fails to account for the needs of small and medium-size businesses, which depend on banking data connectivity to keep their operations running.
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Bank regulators' advance pledge to set capital levels at or above those required by the agreement is evidence that the results of the notice and comment period have been predetermined.
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In its opening bid in budget negotiations with the White House, Republican leadership in the House zeroed in on the Treasury, Securities and Exchange Commission and Consumer Financial Protection Bureau as targets for concessions. But how hard will the administration push back?
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Banks may need to offer people over the age of 65 more than just digital experiences, according to an executive at J.D. Power, which surveyed more than 11,000 retail banking customers.
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In a move some industry observers call "dangerous and irresponsible," the administration is taking down consumer protection guardrails that have been put up by states like California and Colorado.
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Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
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The Office of the Comptroller of the Currency Friday approved national trust charter applications for five crypto firms, affirming the administration's push to allow crypto companies the ability to take deposits.
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Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
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As shoppers embrace new forms of AI, crypto and alternative financing, payment experts say financial institutions will need to reassess traditional payment products.
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Criminals are posing as support staff to drain accounts. A court ruling this year threatens to make banks — not consumers — bear the cost.
The bank is increasing monthly and transaction fees on a business checking account for the first time since 2017.
The 23rd annual ranking of women leaders in the banking industry.
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