Rep. Bryan Steil, R-Wis, and Rep. Ritchie Torres, D-NY, introduced a federal earned wage access bill that would prevent EWA from being classified as credit and preempt any state from designating it as such.
At 4 feet tall and with a child's voice, Pepper won't replace tellers, but it can help bank customers interested in applying for a credit card or having issues with an ATM.
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Security worries have kept many financial institutions from sending payments on TCH's real-time payments network and FedNow. But ABNB Federal Credit Union had other ideas. Here's how its team prepared.
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Firms such as Circle, Binance and Coinbase say new bipartisan legislation will attract banks to the market, providing a boost for mainstream payments.
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Utah is the latest state to push a pro-industry EWA bill. If signed, it would mark the sixth state with legislation specific to the budding cash-flow product.
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While some key indicators dropped in the year ending Dec. 31, 2017, credit unions in many states continue to thrive, with several new states jumping to the head of the pack for various growth measurements.
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The Portland, Ore., company has hired four private bankers from City National as part of a broader effort to provide a full range of services to business owners and high-net-worth households in Orange County and San Diego.
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Berkery will be succeeded by Michael Blum as the chairman of UBS Bank USA. A Merrill Lynch alum, Berkery was part of the turnaround team at UBS' wealth management unit, and during her tenure, the lending book at its bank more than doubled in size.
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The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.
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Like the fintechs SoFi and LendingClub, DLP Real Estate Capital is acquiring a community bank largely to lower the cost of funding loans.
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Stephen Calk, who is scheduled to face trial in June on bribery charges, allegedly reversed course on whether to make a multimillion-dollar loan to Trump’s campaign chairman following the then-president-elect’s surprise victory in November 2016.
Sweeping new data-sharing rules require a substantial IT revamp at large financial institutions.
Coastal Financial's decision to report a material weakness won't impact previously disclosed bottom-line results, though it creates bad optics for the Everett-based company.
A judge ruled the Pennsylvania lender had to commit to its increased fair lending obligations for three more years, as it wouldn't harm the public interest.
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What's the point of regulatory capital rules that ignore demonstrated problems, like unrealized losses? We need to rethink what banks' disclose to investors and regulators.
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The Consumer Financial Protection Bureau is considering new rules covering the collection and sale of some consumer data. If it's not careful, the agency could be inadvertently assisting identity thieves.
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The failure of Republic First isn't a systemic threat or even a surprise. But the conditions that led to its failure are not all that unique and may foreshadow a secular rise in bank consolidation — one that policymakers can either embrace or resist.
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Financial markets took a tumble Monday morning after Federal Reserve Chair Jerome Powell announced that he was the subject of a Justice Department inquiry concerning the central bank's headquarters renovation. Lawmakers and former Fed officials decried the move as political intimidation.
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Coastal Financial in Washington State has acquired GreenFi, one of its fintech partners. The move is designed to buy time in order to figure out the best long-term strategy for the struggling neobank.
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Continuing to retreat from Biden-era rules, the Consumer Financial Protection Bureau and Department of Justice withdrew a 2023 advisory opinion that had cautioned about denying credit to immigrants.
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The U.K. payments processor announced its acquisition of an alternative merchant acquirer license from the state of Georgia as part of its U.S. expansion.
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The 6-2 vote represents a win for the megabank, which has been fighting a nationwide push to organize its workers. Some 28 branches have voted in favor of unionization, while three have rejected unionization.
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Despite attracting $2 billion in deposits, the cloud-native unit proved too expensive to maintain, prompting a strategic retreat by parent company SMBC.
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One of the leading makers of pre-packaged salads has acquired a 16.3% stake in Salinas, California-based Pacific Valley Bank. "It's a real vote of confidence," the bank's CEO said.
The deal ends more than a year of speculation of who would take over Apple's coveted credit card portfolio.
The 23rd annual ranking of women leaders in the banking industry.
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