Senate Banking Committee ranking member Elizabeth Warren, D-Mass., warned the Treasury Department and Federal Reserve in a Wednesday letter not to bail out cryptocurrency firms in the wake of sharp declines in digital asset values over the last several months.
As it secures new funding and creates a joint venture in Japan, Moven says it is close to becoming a full-fledged U.S. “challenger” by purchasing a traditional bank.
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Affirm and FICO earlier this year took the first steps to incorporate buy now/pay later loans into consumer's credit reports. But it will be some time before lenders start making credit decisions based on the short-term installments, even if holdouts like Afterpay and Klarna decide to report to the credit bureaus.
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Analysts said trade war-related issues are pressuring the U.S./Mexico remittance corridor, lowering the value of the acquisition. Devin McGranahan told American Banker Intermex's technology and footprint provide a path for future expansion.
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As the payment technology company diversifies revenue streams, buy now/pay later was a key driver in beating analysts' estimates for Marqeta's second-quarter earnings.
A consortium of financial companies said premiums are rising despite a relatively low level of overall risk, causing some banks to reconsider their policies.
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But some industry watchers are tempering expectations, saying that the language is too vague to know for sure if China is serious about introducing more foreign competition.
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The Mechanicsburg, Pa.-based credit union has revamped its financial literacy offerings to align with in-school curricula on the topic developed by the Pennsylvania Department of Education.
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Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos.
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Jennifer Schachterle will oversee the Home Loan bank's relationships with nearly 330 members. Two former members — Silicon Valley Bank and First Republic — failed this year, and consolidation has also thinned its ranks.
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Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.
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A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.
A threat group used physical implants and evasive malware to infiltrate ATM networks and attempt fraudulent withdrawals. Here are their tactics and techniques.
The company appears to be the first nationally chartered bank to offer crypto trading and traditional banking in the same app.
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There are reasons to be cautious about how a strategic reserve of the cryptocurrency is established, but the economic arguments for including it in the federal government's portfolio are strong.
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Once a helpful tool for law enforcement, CTRs have become next to useless in the fight against money laundering. It's time to retire them in favor of more modern and effective measures.
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FX professionals have long recognized that the most commonly used spreadsheet program struggles to keep up with an evolving marketplace. It's time to bring artificial intelligence into the mix.
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The Wall Street investment bank had staunchly defended Kathy Ruemmler over her previous association with Jeffrey Epstein.
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The New York bank's technology leaders have been working to reengineer back-office work and give some of it to Anthropic's Claude generative AI model.
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The Bureau of Labor Statistics released its January Consumer Price Index Friday, showing that inflation rose 0.2%, while the annual rate eased to 2.4% after holding at 2.7% for several months. The data reduces the likelihood that the Federal Reserve will cut interest rates in the near future.
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The Consumer Financial Protection Bureau's complaint portal has been flooded in recent years, but corporate debt collectors, industry attorneys and consumer advocates question whether the bureau's efforts to reduce the volume will help consumers as much as it helps the firms they're complaining about.
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Rich Guerrini said the bank plans to expand its advisor ranks by about 50% as it targets mass affluent and other new clients with personalized branch-based service.
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Sens. Ted Cruz, R-Texas, and Katie Britt, R-Ala., offered a new bill that would index the Durbin Amendment's debit fee threshold to inflation. The bill joins a number of community bank-centered bills offered or moving through Congress
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In 2025, compensation for the chief executives at four of the largest U.S. banks jumped by between 10% and 28%. The increases reflect strong financial performances, the achievement of certain milestones and the competitive landscape, a compensation consultant said.
Block's merchant unit is deploying a virtual assistant to sweeten its offer to merchants, while Amazon pushes Pay by Bank. Plus, Zelle reaches a milestone and more in American Banker's global payments and fintech roundup.
The 23rd annual ranking of women leaders in the banking industry.
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