The proposed Berkshire Hills-Brookline merger is expected to finalize on Sept. 1; Flagstar Financial has scheduled a special shareholders' meeting to simplify the bank's regulatory structure; former Credit Suisse executives agreed to settle a suit filed by shareholders claiming they failed to maintain adequate risk management; and more in this week's banking news roundup.
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.
-
Micro-merchants that sell on Etsy and Shopify were briefly unable to accept payments — an issue that could have been catastrophic had it lasted longer.
-
Signature Bank's payments network — used by cryptocurrency firms looking to exchange fiat currency in real time — is still online even after the lender was put into receivership.
-
When Circle USDC broke its peg to the dollar days after SVB's crisis, it revealed new uncertainties for cryptocurrency that's designed to resist volatility.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
Bank representatives' productivity rose by a little less than 13% in June, to $25,361 in combined fees and commissions, up from $22,485 in May, according to the Bank Insurance and Securities Association's Monthly Productivity Report.
-
The majority of 401(k) participants exhibited steady savings behavior in the second quarter, but the number of loans and hardship withdrawals increased, according to data from Fidelity Investments.
-
Hedge funds started making money again in July, with the Morningstar 1000 Hedge Fund Index up 2.7% over the previous month. The index was up 0.35% year to date, Morningstar said.
-
Until recently, there was a consensus among policymakers that Fannie Mae and Freddie Mac needed to be eliminated. That just changed. Here's why.
-
The JPMorgan Chase CEO supports easing regulations on mortgage lending but says other major provisions of Dodd-Frank should remain intact.
-
The ban on financing properties encumbered by heating and cooling assessments will go into effect in 20 days, according to the Federal Housing Administration.
Jeffrey Brown, who's been Ally Financial's top executive for nearly nine years, plans to leave the company by early next year. His exit comes as deteriorating credit quality and rising interest rates are biting into Ally's profits.
The Republican presidential nominee laid out his economic platform during a speech at the Economic Club of New York.
-
It's important that breach mitigation strategies take younger people, gaming and school into account, says ForgeRock's Ben Goodman.
-
Credit unions that hope to fully reopen their facilities need to have a plan in place to ensure employees are being careful and not spreading the coronavirus.
-
The incoming Biden administration must take steps to block mergers that could create monopolies, such as Visa's pending acquisition of a competitor.
-
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.
-
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.
-
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.
-
More nonbank digital asset firms are applying for national trust charters, a development that many banking organizations oppose due to what they say is inadequate oversight, lack of congressional intent and no FDIC backstop.
-
The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.
-
The Charlotte, North Carolina-based bank, which is focusing its growth push in the Southeast, is also planning to renovate 300 existing offices as part of an effort to attract more mass-affluent customers.
- 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.
President Trump said Thursday that he will nominate Stephen Miran, who currently serves as chair of the White House Council of Economic Advisers, as the next member of the Federal Reserve Board of Governors. Miran is a key architect of President Donald Trump's tariff policy.
President Trump's imposition of sweeping tariffs on more than 90 countries Thursday represents a major shift in the U.S. trade stance, but the impact on inflation, the Federal Reserve and the economy are still unclear.
The 23rd annual ranking of women leaders in the banking industry.
-
Partner Insights from Alloy -
Partner Insights from Alloy -
Partner Insights from Alloy -
Partner insights from scienaptic
