Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
The banking-as-a-service pioneer has been reeling from the business since an enforcement action from a federal regulator last year.
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By pairing its real-time transfer app with China's UnionPay card, Visa is pursuing business in the huge country, where shifting regulations create hurdles for outside companies.
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CEO Max Levchin said the lender is testing technology that allows merchants to perform more advanced testing of promotional financing offers.
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American Banker's 2026 Predictions report finds that nonbank entities and check fraud are major threats to local banks in the coming months.
New York Life and D.E. Shaw are among the companies encouraging use of large language models throughout their organizations.
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Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.
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Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.
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The Honolulu-based seller had faced pushback from an investor group that stepped in with a competing offer. But it ultimately secured enough votes to approve the sale to Hope Bancorp.
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The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.
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Here's what industry experts have to say about a risk that a housing regulator has spotlighted through referrals that have led to high-level allegations.
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Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.
American Banker's 2026 Predictions report finds that nonbank entities and check fraud are major threats to local banks in the coming months.
The Office of the Comptroller of the Currency finalized rules rescinding fair housing data requirements and expanding speedy licensing for banks under $30B in assets as part of Comptroller Jonathan Gould's push for more risk-based supervision.
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The supersonic Concorde was one of aerospace technology's greatest achievements. However, its ultimate commercial failure should be a lesson for those pushing AI into banking. Advanced technologies often develop faster than consumers' ability to benefit from them.
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A comment deadline is approaching on a proposed Consumer Financial Protection Bureau rule that would dismantle longstanding rules meant to protect minorities from discrimination in the market for credit.
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A proposed increase to federal deposit insurance levels for certain business accounts is a necessary reform that will support community banks and the communities they serve.
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Senate Banking Committee Chair Tim Scott, R-S.C., said Tuesday that he expects the committee to work out a compromise between banks and crypto firms on yield-like rewards — a major sticking point in a market structure bill — by Friday.
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Federal Deposit Insurance Corp. Chair Travis Hill said in remarks Wednesday that privacy and know-your-customer gaps remain for banks that work with public, permissionless blockchains, and that the agency may need to clarify how banks can interact with them.
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The 2023 takeover of Credit Suisse boosted UBS's size but also saddled it with the challenge of integrating vast operations.
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Banks that don't offer buy now/pay later risk pushing customers — especially younger ones — into fintechs' arms.
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Over the course of its first year in office, the second Trump administration has neutralized the enforcement of key civil rights laws by reorienting Consumer Financial Protection Bureau rules and eliminating "disparate impact" that allows banks to be penalized for the discriminatory effects of policies without proving discriminatory intent.
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The former Rocket employee said she faced pressure to resign after requesting remote-work accommodations and leaves of absence to deal with health conditions.
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Banks that don't offer buy now/pay later risk pushing customers — especially younger ones — into fintechs' arms.
Realtors and loan officers are wary of using artificial intelligence in place of a real estate agent, after a homeowner claimed to realize meaningful savings.
The 23rd annual ranking of women leaders in the banking industry.
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