In a move some industry observers call "dangerous and irresponsible," the administration is taking down consumer protection guardrails that have been put up by states like California and Colorado.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
-
The money transfer service and the U.K.'s Post Office were on the verge of an extension. Then the hack came. This and updates from Worldpay, Mastercard and JCB in our global payments roundup.
-
Interchange reductions for small Canadian businesses join global efforts to curb swipe fees, prompting Visa and Mastercard to diversify
-
As regulators and Congress push for stronger consumer protections as losses mount, payment experts say there are steps companies should be taking now to respond.
-
Northern Trust on Tuesday promoted Michael O'Grady to president. O'Grady currently serves as head of corporate and institutional services at the Chicago-based custody bank, overseeing businesses such as asset servicing and investment management.
-
The digital-advice startup SigFig has now teamed up on robo-advisory offerings with Wells Fargo and UBS, while BlackRock's FutureAdvisor has lined up agreements with U.S. Bancorp, BBVA and others.
-
Midland States Bancorp in Effingham, Ill., has launched an efficiency push after a period of expansion that reached another milestone Thursday.
-
Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”
-
The Baltimore-area credit union crossed the latest threshold despite a dip in net income during the first quarter as many organizations struggle with the coronavirus fallout.
-
The Federal Housing Finance Agency clarified that borrowers with Fannie Mae- or Freddie Mac-backed mortgages who have entered into forbearance plans can be eligible for a refi or new purchase once they are considered “current” on their mortgage.
The Spanish bank has launched a new online onboarding feature, which allow customers in Spain to open an account on a mobile device and verify their identity via a photo snapped from their mobile device, it announced Thursday.
The combination would create a Northeast regional bank with nearly $24 billion of assets. It would rank as the eighth-largest bank in the Boston metropolitan area by deposit market share.
The Consumer Financial Protection Bureau's erosion and the second phase of the Capital One merger with Discover are top of mind for bankers going into June.
-
Higher interest rates, deposit flight and looming credit losses were roiling the banking industry a few months ago, but so far banks seem to be weathering the storm. That doesn't mean things can't get worse.
-
Far more than most people, financial services professionals ought to understand the compounding crisis of climate change.
-
The simple act of disclosing their sensitivity to interest rate changes would bring market discipline to the banking industry's choices about interest rate risk.
-
The DOJ says the Ukrainian national helped coordinate Russian state-sponsored DDoS attacks against banks internationally.
-
The House Financial Services Committee discussed allowing banks to experiment with artificial intelligence with a waiver from regulatory penalties, including consumer protection laws, in a hearing.
-
The card networks entered separate partnerships to tap the remittance market, while the French payment company continued its turnaround strategy following regulatory and economic challenges.
-
The Consumer Financial Protection Bureau plans to issue an interim final rule soon on consumer financial data rights because the agency expects to run out of money by Dec. 31.
-
Pornographers, private-prison operators and digital-asset firms were among the industries that major banks curbed ties with over moral or reputational concerns, according to the Office of the Comptroller of the Currency's preliminary findings in its "debanking" probe launched earlier this year.
-
Brex is powering Fifth Third's commercial card issuance in a move that boosts the fintech's distribution network and provides the bank with a more competitive commercial card proposition.
- 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.
The card network is making a digital wallet push following the Digital Markets Act, which dilutes Apple's control over mobile payments technology.
What is a dollar? Noelle Acheson highlights how stablecoins are underlining the ways in which the absence of an official definition can have geopolitical and macroeconomic consequences.
The 23rd annual ranking of women leaders in the banking industry.
-
Sponsored by IntraFi -
Partner Insights from Alkami -
Partner Insights from Alkami -
Partner Insights from Alkami
