A district court has agreed to halt compliance with the Consumer Financial Protection Bureau's Biden-era open banking rule while the Trump administration pursues its own rule.
Relations between banks and providers of personal financial management tools have soured of late amid reports that some banks block PFM sites' access to their customers' information during peak traffic periods. Aggregators say they are working to address banks' concerns, but they also are urging banks to invest in more server capacity to keep pace with customer demand.
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Tipalti, Stax and Stripe are among those using new artificial intelligence tools as digital helpers for staff. The specifics vary based on each company's mission and level of comfort with the technology.
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After his aggressive cost-cutting raised profits above analysts' expectations, Block's CEO aims to retool several features of Square and Cash App to enable them to operate like a "social bank."
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The two companies in the largest bank merger since the 2008 financial crisis released details of their agreement. It leaves the door open for Discover to field better offers, though the payments company would pay a break-up fee of 4% if it accepts one.
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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Bank of America Corp. took a risk when it recently launched Merrill Edge, an online, call-center and branch-based brokerage poised to compete with discount brokers, but it said that gamble is paying off.
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Fiserv Inc. said it is improving its wealth management offerings through a partnership with LifeYield LLC.
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Bank of New York Mellon announced Monday that it named Mitchell Harris president of its investment management division.
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A new study from CUNA Mutual Group shows CUs ended March with tepid growth in membership and auto and real estate loans compared with a year earlier.
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Recent letters from NAFCU and CUNA called on the Consumer Financial Protection Bureau to provide a carve out in its payday lending rule for loans made by credit unions.
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In his first public policy speech as director of the Federal Housing Finance Agency, Mark Calabria stressed that Fannie Mae and Freddie Mac will have to raise significant capital via a public offering and take other steps in order to escape government control.
After the megabank was hit with $136 million in regulatory fines over its alleged failure to comply with 4-year-old consent orders, analysts assessed the likely fallout. "There is clearly frustration on the part of regulators," one analyst wrote.
A federal judge said she is inclined to issue a preliminary injunction to stop the Trump administration dismantling the Consumer Financial Protection Bureau.
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Any limitations on the distribution of pandemic relief and other payments are the result of instructions from the IRS, or the Federal Reserve's failure to operate a 24/7 payments system — and not shortcomings of the automated clearing house network, writes the head of Nacha.
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A board member of the National Credit Union Administration urges vigilance against threats that many institutions ignore at their peril.
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The SAFE Banking Act has been passable for almost a decade, but one thing or another has always gotten in the way. Congress should pass it now.
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Boston-based Eastern Bankshares is focused on organic growth, but it would "evaluate the opportunity" for M&A if a deal presents itself, its CEO said Friday. The comments came four days after an activist investor criticized the bank's recent M&A transactions.
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There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.
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The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.
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Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.
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The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.
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From baby boomers' family needs to the fearlessness of Gen Z, three bank executives discussed the work habits of different age groups at American Banker's Most Powerful Women in Banking conference.
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The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.
The 23rd annual ranking of women leaders in the banking industry.
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