In an candid one-on-one interview, Fremont Bank's Vivian Yeung, Chief Digital and Technology Officer,
Berkshire Hills Bancorp in Massachusetts invested in technology to beef up its small-business lending, an area ripe for the picking by alternative lenders.
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As founder of the card network's Center for Inclusive Growth, Singh brings financial resources, corporate tools and volunteer expertise to small businesses around the world.
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The peer-to-peer network moved $219 billion in the final three months of 2023, with scams and fraud accounting for about 0.1% of all volume, according to Early Warning Services, which operates Zelle and is owned by a consortium of banks.
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Some U.S. banks postponed taking action on ISO 20022, a new global financial messaging standard, while they were busy with preparations for FedNow's faster-payments launch last year. This may not leave them with enough time to meet a March 2025 deadline.
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
The Pittsburgh-based superregional bank reported a small quarter-over-quarter advance in net interest income, and it expects loan growth to pick up in the second half of the year. PNC, which announced job cuts last year, also said that it has identified an additional $25 million in cost savings.
Federal Reserve Vice Chair Philip Jefferson said clearer Fed communication and better text analysis has made monetary policy transmission more efficient, but noted that the central bank must remain diligent in how it communicates forward monetary policy guidance.
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Regulators must not choke off lending at a time when banks are well positioned to help ease the blow of an economic downturn.
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Bank regulators should heed the Treasury Department's call to embrace cutting-edge tools for credit scoring.
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Revelations that Silvergate has $4.3 billion in Home Loan bank advances highlight another conduit by which the crypto winter could spread to the broader financial system.
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Comerica announced the promotion of Kristina Janssens to be its next chief risk office; Washington Trust hired James "Jim" Brown, an executive from Berkshire Bank, as its chief commercial banking officer; Citizens Financial pledged $20 million to support workforce development programs; and more in this week's banking news roundup.
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Federal Reserve Governor Stephen Miran said he hasn't spoken to President Donald Trump since the central bank's policy meeting this week, and didn't promise the president he would vote a particular way on interest rates.
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Between 2021 and 2025, the Japanese bank SMBC has raised its stake in the U.S. investment firm from 4.5% to 20%.
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The U.S. Department of Justice declined prosecution after BofA Securities self-reported the violations and fixed major compliance gaps.
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PayPal, Google and Mastercard in recent days expanded support for agentic AI commerce. Card issuers will need to respond quickly to compete, payment experts say.
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The Treasury Department proposed a rule delaying investment adviser AML requirements to 2028 and sought public comment on implementing regulations for a stablecoin bill passed earlier this summer.
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Dr. Shlomit Wagman is a fellow at the Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government and Allan Lab. She previously chaired the Financial Action Task Force risk working group, held a senior role at the Egmont Group and MONEYVAL at the Council of Europe, and led Israel's Financial Intelligence Unit. She earned her Ph.D. and LL.M. from Yale Law School.
As the political dispute drags on, there are implications beyond government disbursements, potentially harming corporate cash positions and the larger economy, according to payment experts from Billtrust and research firms.
The 23rd annual ranking of women leaders in the banking industry.
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