The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. announced Friday that they are withdrawing from a 2013 interagency leveraged lending guidance, arguing it was overly restrictive, pushed activity to nonbanks and sidestepped official rulemaking.
Funding of startups will cool overall, but venture capitalists anticipate growth in new areas of financial services that are ripe for innovation, including wealth management, insurance and back-office operations.
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The payment company is enabling consumers to stack multiple cash-back offers as a way to lure consumers to its alternative digital wallet.
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The inquiry, which is focusing on the nation's four largest airlines, aims to protect consumers from potentially unfair, deceptive and anticompetitive practices.
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Since launching in summer 2023, the government-backed instant settlement network has attracted hundreds of financial institutions, but there is still room for growth.
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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State Street's cost-cutting plan began to pay dividends, as the Boston company's second-quarter profit rose sharply on lower expenses.
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Though several banks have begun automating financial advice for smaller investors, some are also providing more personalized services such as counseling family members who have suddenly inherited a fortune.
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People's United Financial in Bridgeport, Conn., has agreed to buy a New York wealth-management firm.
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The National Credit Union Administration is giving lenders and borrowers extra time to complete appraisals to ensure mortgages are still being completed despite the pandemic.
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The move is part of an effort by CFPB Director Kathy Kraninger to help smaller lenders by significantly raising loan thresholds for collecting and reporting mortgage data.
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The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis.
Andy Sieg, head of Citi's wealth business, says retention bonuses are part of his growth strategy.
The Financial Technology Association will now defend the Consumer Financial Protection Bureau's open banking rule after the Trump administration sided with banks that sued the agency.
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Brokered deposits had nothing to do with this year's bank failures, and regulators shouldn't pretend otherwise.
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Regulators and the public are still concerned about the condition of the banking system. Bankers can't afford to look away.
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Artificial intelligence is on the cusp of solving some of the most chronic problems facing bank managers. They need to embrace it.
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As federal watchdogs step back from regulating "Buy Now, Pay Later" loans, state authorities are stepping in. This week, the attorneys general from California and several other blue states joined the fight.
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The Troy, Michigan-based lender and servicer faces at least seven lawsuits over a hack in June allegedly perpetrated by a known ransomware gang.
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In a relatively mild oversight hearing in the House Financial Services Committee Tuesday morning, regulatory heads at the Federal Reserve, Office of the Comptroller of the Currency, National Credit Union Administration and Federal Deposit Insurance Corp. outlined plans for reduced capital requirements and debanking enforcement.
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South Plains Financial agreed to pay $105.1 million in stock to acquire a seven-year-old Houston community bank in its first M&A foray since 2019.
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Former Comptroller of the Currency Eugene Ludwig has written a book called The Mismeasurement of America that lays out the shortcomings of the standard economic data that U.S. government and businesses use to make decisions, and how this data obscures the truth about how low-income Americans are actually faring.
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Democratic lawmakers, led by Senate Banking Committee ranking member Elizabeth Warren, D-Mass., press 21 institutions for fee data after a federal agency halted disclosure requirements.
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Ten teams will be honored for executing the most innovative technology projects of 2025.
The megabank laid out a series of changes, including the impending departure of its chief financial officer and other executive shifts related to a revamp of its U.S. personal banking line of business.
The 23rd annual ranking of women leaders in the banking industry.
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