The D.C. District Court held a hearing this morning and defendants filed briefs in a case to determine whether Federal Reserve Gov. Lisa Cook will remain on the Federal Reserve Board after her ostensible firing by President Trump earlier this week. No ruling was issued, but one is expected before the FOMC votes in mid-September.
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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The major payment card networks are "pausing" the rollout of a new merchant category code to identify purchases at stores that sell guns and ammunition, following pushback from lawmakers in Florida and elsewhere.
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The card network is examining how to make incentives more personal by using advanced technology to sift through a trove of consumer spending data.
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The pandemic's push to expand contactless mass-transit payments has produced a 120% increase in Discover's transit transactions since 2020 as more commuters opt for the pay-as-you-go approach versus prepaying.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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JPMorgan Chase & Co. is making management changes to its asset management unit, replacing the head of institutional sales for North America and planning to name a new head of sales for investment management for North America
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Vanguard has introduced the Vanguard Target Retirement 2055 Fund, a target-date portfolio for investors 18 to 22 years old who plan to retire in 2055 or thereabouts.
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Compliance and financial reporting experts are criticizing the Financial Industry Regulatory Authority's proposal for broker-dealers to cough up more detailed and frequent financial reports.
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Colonial Savings founder James S. DuBose died after a yearlong battle with cancer. He was 93.
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Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."
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A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.
First Citizens extends its brand to CIT business lines, Discover launches TV campaign for debit account, Southern Michigan Bancorp announces leadership transition and more in the weekly banking news roundup.
The increase would "ensure that the wealthy and big corporations pay their fair share" at a level that also "rewards investment in America's innovators, founders and small businesses," Harris said.
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Fintechs that focused on offering digital banking solutions likely saw a positive boost, and consumers’ increased use of mobile devices encouraged bank-fintech partnerships to keep up with the pace of innovation.
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Once vaccines are widely available, some Americans may revert to old habits of paying cash and swiping cards, but many will stick to digital and mobile payment methods, says Paysend's Matt Montes.
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Financial disparities have only worsened during the coronavirus pandemic. President-elect Biden’s team could address this issue by establishing an office of economic equality under the Financial Stability Oversight Council.
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Trump has yet to decide when Fannie Mae and Freddie Mac will return to the market in an IPO that regulator Bill Pulte says could top $1 trillion.
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FRNT is designed to streamline government disbursements while acting as a lure for digital financial services firms.
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Horizon Bancorp said it will raise about $200 million in capital to fund a major balance-sheet restructuring. The move would dilute existing shareholders, and the company's stock price dipped on Thursday.
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The Consumer Financial Protection Bureau initiated a new rulemaking process for its open banking rule with a focus on who can serve as a representative for the consumer and whether banks can charge fees to third parties for consumer data.
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The digital bank gives its business clients the option of feeding their bank account data into Anthropic's large language model, which will then provide answers to their questions.
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The Office of the Comptroller of the Currency Thursday terminated a 2022 enforcement order against Anchorage Digital, the first federally regulated crypto bank, at a time when fintechs and crypto firms are increasingly seeking national trust charters.
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As the payment technology company diversifies revenue streams, buy now/pay later was a key driver in beating analysts' estimates for Marqeta's second-quarter earnings.
The personal finance app provider is working to block AI crawlers from the search giant and large language model providers from accessing much of its website.
The 23rd annual ranking of women leaders in the banking industry.
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