The head of the government-sponsored enterprise's oversight agency said the cuts were made to positions that weren't central to mortgages and new home sales.
Univest believes its subscription-based pricing model may have solved a persistent fee conundrum charging small-business customers for various services without irking them.
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The pandemic reduced the number of daily mass-transit commuters, but the accompanying surge of contactless payments is expanding and diversifying transit systems' demographic reach, according to data from the card network.
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The U.K. is considering a bill that would let banks and payment service providers put suspicious-looking peer-to-peer payments on hold for up to four days to conduct security reviews; Giesecke+Devrient is working with Brazil's central bank to develop an offline payment approach to a central bank digital currency; and more in global payments news this week.
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Powered by its data-aggregation arm Finicity, Mastercard is piloting a service giving consumers an analytical view of all the subscriptions they routinely pay via credit, debit or ACH with options to cancel, pause or resume them.
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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For a growing group of acquisition-minded community banks, fee-based businesses are looking like a more attractive way to bolster revenue and the bottom line than are traditional bank deals these days.
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The oft-used warning about investments is also used for tax shelters: If it seems too good to be true, it probably is.
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With the Trump administration appearing willing to shake up Fannie Mae and Freddie Mac without Congress, Reps. Lacy Clay, D-Mo., and Sean Duffy, R-Wis., said legislative action should be a priority.
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For four years running, consumer complaints about the three national credit reporting agencies — Experian, Equifax and TransUnion — have dominated the CFPB’s database. What do they keep doing wrong?
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The consolidation of the two companies' securitization platforms into a single bond market became official on Monday.
Federal banking agencies asked the Fifth Circuit to lift an injunction on new community lending regulations, arguing that the court misinterpreted the scope of the Community Reinvestment Act's reach.
President Trump's selection of Federal Reserve Gov. Michelle Bowman as the next vice chair for supervision comes as banking groups and their allies in Congress asked the administration to fill the position quickly. Bowman was the preferred choice for many in the industry.
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Feeling that your bank is truly there for you is the difference between a bank account and a banking relationship.
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Wall Street reporting has left Main Street behind and you, dear banker, should be concerned. A new book, "The Future of Business Journalism," explains why.
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Our current high inflation rates and the recession that is probably facing the economy in 2023 have the fingerprints of Federal Reserve Board Chairman Jerome Powell all over them.
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The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.
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FirstSun Capital Bancorp plans to buy First Foundation in an effort to accelerate its Southern California growth. The $785 million transaction follows FirstSun's failed takeover of Seattle-based HomeStreet.
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The acquisition of the prime-focused U.S. fintech is expected to boost Barclays' return on tangible equity and digital capabilities starting in 2027.
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The payment company launched new tools for merchants and entered artificial intelligence collaborations with OpenAI and Mastercard ahead of the company's second quarter earnings, which beat analyst expectations.
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A proposal from the Office of the Comptroller of the Currency would roll back Biden-era recovery planning rules for banks, leaving them with broad discretion to determine their own recovery protocols.
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Capital One, PNC, Truist and, U.S. Bancorp are urging regulators to cut duplicative calculations and align U.S. rules with global standards, a longstanding preference for banks but one that will likely find a warm reception from a deregulation-focused Trump administration.
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Senate Banking Committee Republicans, led by committee chair Tim Scott, R-S.C., introduced a bill that would raise the mandatory reporting threshold for certain currency transactions, a move meant to ease banks' anti-money laundering compliance obligations.
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., is urging the Federal Deposit Insurance Corp. not to approve new Industrial Loan Company charters until Congress passes a law subjecting ILCs to bank holding company rules.
The 23rd annual ranking of women leaders in the banking industry.
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