Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country.
Banks' in-house venture funds tend to favor mature fintech companies, but BBVA's establishment of an outside fund should help the bank get in on the ground floor with early-stage companies.
-
Wars in Ukraine and the Middle East. Fiercely polarized U.S. politics. Rapidly multiplying payments options on social media networks and elsewhere. Those factors and more are making it harder than ever for banks to combat illicit financial transactions.
-
Despite further delays, the country has taken two key steps to opening up access to its Real-Time Rail, including allowing payment companies to participate without a bank partner, but it has yet to commit to a date for the project to go live.
-
M&T Bank creates new chief communications officer role, Citi cuts London investment banking jobs as deal drought persists, new report by McKinsey advises banks to institute artificial intelligence from headquarters rather than by divisions, and more in our weekly news roundup.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
Goldman Sachs Group Inc. will not face criminal prosecution tied to sales of mortgage-linked securities as such a move could threaten the U.S. financial system, according to Brad Hintz, an analyst at Sanford C. Bernstein & Co.
-
-
Emigrant offers art- and antique-related services that most banks do not. "It's not cost-effective for many of the big banks to invest in the expertise and infrastructure to offer art advisory services or to underwrite loans," says Andy Augenblick, the president of Emigrant Bank Fine Art Finance.
-
The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings.
-
The little-known unit was launched in the wake of efforts by the CFPB and HUD to cut back on fair-lending activities, but the reach of the 10-month-old office is still unclear.
-
The bipartisan proposal aims to renew banks' interest in low-income housing tax credits and bring more lower-priced homes to markets that badly need them.
The store-branded credit card company revised its revenue guidance upward on the assumption that the CFPB's late-fee cap won't take effect before 2025. Still, Bread is moving ahead with plans to make up some of the revenue that it stands to lose from the contested rule.
Following a media report that Department of Justice staffers have expressed concern about how Capital One's purchase of Discover would affect competition in the subprime credit market, analysts said the portfolio would be tough to sell. But they remain optimistic that the deal will get over the finish line.
-
The National Credit Union Administration must justify its sharply higher operating budget for next year.
-
Investors are learning the hard way, again, that highflying new financial products, with little or no regulatory oversight, tend to crash.
-
The National Credit Union Administration can no longer examine third-party vendors and service providers. That leaves the industry vulnerable to cybercriminals and other bad actors.
-
Nine months after acquiring Heartland Financial, Missouri's largest bank posted a complicated quarter.
-
The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.
-
Credit analysts say climate risk could still pose a financial threat to financial institutions, even though the federal government has taken an ax to Biden-era climate guidance.
-
The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.
-
The lawmakers suggest ties between the former Binance chief and the Trump family could have led to the pardon.
-
A district court has agreed to halt compliance with the Consumer Financial Protection Bureau's Biden-era open banking rule while the Trump administration pursues its own rule.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
U.K. regulators approved the acquisition, which is part of Global Payments' plan to scale its point of sale restructuring.
Panelists speaking at American Banker's Most Powerful Women in Banking conference said they appreciate the deregulatory efforts underway under Trump, but said clarity on tariffs and rules of the road for emerging technologies would unlock future growth.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from Elan Financial Services
- Sponsor Content from Outsystems
- Sponsor Content from Onfido
-
Partner Insights from NICE Actimize
