In a new interpretive letter, the Office of the Comptroller of the Currency will allow banks to serve as middlemen for "riskless" crypto trades, extending existing brokerage authority for securities to digital assets.
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.
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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.
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New Mountain Capital is combining three companies in its portfolio: the Rawlings Group, the payment-integrity business of Apixio, and a recently acquired firm called Varis. The new entity would use AI to track health plans' payments to doctors and hospitals.
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Diane Offereins retired from a top job last year amid scrutiny of the card network's charges to merchants. Now she's suing Discover over its decision to cancel unvested stock worth $7 million.
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The three custody banks had been projected to post weak second-quarter results because of a lull in foreign exchange trading. Then Brexit happened, and everything changed.
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Wells Fargo plans to pilot a digital advice platform in early 2017, according to a high-ranking executive at the wirehouse.
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Bank of America, the second-biggest U.S. bank by assets, said second-quarter profit fell 21% as it took an accounting charge and posted a decline in wealth management revenue.
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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.
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The Borrower Protection Program enables the two agencies to exchange information about loss mitigation efforts and consumer complaints regarding specific servicers.
It's hard to sell a big bank something regardless of the tech company's size. But for early-stage startups with only a handful of employees and a product still under development, the challenge is far greater than for seasoned tech vendors.
The Columbus, Ohio-based regional launched Lift Local Business in October 2020 with a $25 million ceiling. Four years and $133 million later, the program is still going strong.
The Federal Reserve chair said there is "room for improvement" in how the central bank conveys economic uncertainties to markets and the public.
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Legislation before Congress would violate individuals' digital privacy by requiring digital wallet providers to intrusively gather and report highly personal information.
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Despite regulatory efforts, applications for traditional new banks often now require lengthier review periods for approval than in the last several decades. Here are some key ways to lighten this burden.
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Banks in the U.S. tend to exist for about half the life span of the average human being. It doesn't have to be that way.
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The state is requiring merchants to accept cash denominations of $20 and under and prohibits them from charging extra to accept cash. The law, which goes into effect in March, comes as merchants are responding to the Trump administration's abrupt cancellation of penny production.
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A bipartisan housing provision has emerged as a critical negotiating point for passage of an uncommonly bank-relevant defense authorization bill.
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More than 400,000 consumers may be affected after Marquis Software Solutions suffered a breach traced to a bug in SonicWall software disclosed last year.
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Midland States Bancorp has completed three major asset sales in the past 12 months, exiting national business lines and shifting focus to its core community banking franchise.
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Employees throughout the company can use generative AI to query data from sales calls, email, invoices and a host of other information sources.
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The Canadian bank is determined to grow its U.S. business organically, CEO Darryl White said Thursday. But with so much excess capital, analysts wondered about the bank's appetite for M&A.
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The Supreme Court won't consider Todd Harper and Tanya Otsuka's case alongside a similar one involving the Federal Trade Commission when it hears oral arguments in early December.
The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a final rule Tuesday that softens leverage demands for the biggest and most systemically risky banks and lowers the community bank leverage ratio to 8%.
The 23rd annual ranking of women leaders in the banking industry.
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