Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
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This week in global news, U.K. payment regs draw fire, Alipay expands, Italy considers a central bank digital currency and more.
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The Block unit's new American Express card credits users with $1 in payment-processing fees for every $3 they spend on business expenses. It's also offering new loan terms and other tools for managing expenses and cash flow.
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The fintech's revenue has soared as interest rates jump to contain inflation. CFO Matt Briers discussed the firm's strategy to navigate the inevitable decline.
Research, insights and data on how banks and financial institutions are using AI can now be found in a new location on American Banker.
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The Financial Industry Regulatory Authority announced that it had fined the former Ferris, Baker Watts LLC $500,000 for inadequate supervision of sales of reverse convertible notes to retail customers.
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Assets under management at the 500 largest advisers in the world rose 16% last year, to $62 trillion, after contracting 23% the year before, according to Towers Watson and Pensions & Investments.
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After the shocks and bumps of the Great Recession, younger baby boomers are already thinking about retirement and are clear on one thing: When it comes to retirement income, they want guarantees, according to a study.
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Results were also aided by strong growth in residential construction, commercial and equipment financing.
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While the West Coast still reigns as the epicenter of technology development, the Detroit area has quietly emerged as a proving ground for digital mortgage innovations.
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Joe Petitti and Jack Knight formerly held leadership posts at First Republic.
Analysts agree that the Long Island-based bank will probably absorb some losses due to its exposure to struggling segments of the commercial real estate market. But they differ on the extent of the likely damage.
House Republicans called on regulators to balance the need for more rules around bank-fintech partnerships with the need to foster innovation and consumer access and emphasized collaboration with state regulators.
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Regulations that merely reflect the beliefs of whoever’s in power undoubtedly get unwound by the next round of leaders. Policies will stand the test of time if they are focused on addressing inequalities in the financial system.
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Data connectivity is key to adding products and addressing customers, says Flinks' Yves-Gabriel Leboeuf.
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With so many personally and financially impacted by COVID-19, consumers have made it clear that the way customers pay for goods or services can no longer follow a one-size-fits-all approach, says eBay's Alyssa Cutright.
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Taylan Turan, who was previously HSBC Holdings' global CEO of retail banking, will join the Canadian bank later this month as chief operating officer.
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Tricolor Holdings had been showing some cracks leading up to its bankruptcy filing Wednesday. Fifth Third, which had funded the company, said that the problem is a "one-off."
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From FedNow to Venmo, banks are tapping QR codes for speed and security. Scammers are also exploiting the blind trust they elicit.
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The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.
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The U.K.-based super app expanded its partnership with Google Cloud as it looks to advance account-to-account payments; Global Payments launches Genius platform in the U.K.; and more in this week's global payments roundup.
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At a hearing on deposit insurance reform, Republican lawmakers concluded that only the largest banks would oppose a proposal to raise insurance for business accounts to $20 million.
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The Pittsburgh-based bank is bolstering its Southeastern and Mid-Atlantic footprint by adding almost 30 new branches. But is the market already too crowded?
The department is aiming to boost transparency and win Trump's trust after poor economic numbers last month led to a bureaucrat's firing.
The 23rd annual ranking of women leaders in the banking industry.
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