The megabank's net income declined by 13% during the fourth quarter as a result of a $1.2 billion pretax loss on sale related to the divestiture of its remaining operations in Russia.
By banding together, banks can negotiate better terms with startups and other tech companies, FIS' chief operating officer says.
-
The U.K. axed its payments regulator in an effort to reduce red tape as part of the prime minister's Plan for Growth. The move was lauded by industry, but some are concerned the FCA won't give payments the attention they deserve.
-
The country's central bank cited geopolitical uncertainty and the increased reliance on digital payments as a reason to focus on offline payments as a backup. Also, a look at U.K. bank outages and other news in American Banker's global payments and fintech roundup.
-
The question is no longer whether the financial services industry needs a unified approach to combating instant payment fraud but who will take the lead to make it happen. The onus is on the biggest players in the market to show the way forward.
Disruptive upstarts. Glitches galore. Open banking adoption. Financial institutions are being challenged on multiple fronts — here’s a look at how they’re coping.
-
The consumer lender Oportun is rolling out a product designed to combat overdraft fees.
-
The 2018 Credit Union Cherry Blossom 10-Mile Run and SacTown run helped CUs raise hundreds of thousands of dollars for Children's Miracle Network hospitals. Here's a look at some of the day's festivities.
-
BMO Wealth Management aims to modernize its investment service and give advisers better equipment. Others offering automated advice solutions include UBS, Wells Fargo and JPMorgan.
-
Over the past year, bankers have been able to sit back and field calls from borrowers eager to take advantage of low rates. Now, with rates rising, many in the industry will likely adopt a more aggressive approach.
-
The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.
-
Like the fintechs SoFi and LendingClub, DLP Real Estate Capital is acquiring a community bank largely to lower the cost of funding loans.
Bakkt is losing contracts with the bank and Webull just months after the company's acquisition talks with Donald Trump's Trump Media fell through.
A judge ruled the Pennsylvania lender had to commit to its increased fair lending obligations for three more years, as it wouldn't harm the public interest.
-
Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.
-
If Capital One successfully buys Discover Financial Services, it would create an entity with an enormous amount of power. That could lead to abuses of vulnerable consumers.
-
The decision will turn on whether regulators think the merged company would lessen competition or pose a significant threat to the broader economy if it runs into financial distress.
-
New research from American Banker details how the 50 largest U.S. banks by U.S. assets are using stablecoins, cryptocurrencies and other distributed ledger technology.
-
Federal Reserve Chair Jerome Powell said the central bank has been served grand jury subpoenas and been threatened with criminal indictment, moves he called "pretexts" to influence interest rates through "political pressure or intimidation."
-
Universal Commerce Protocol is an open standard that establishes a common language for AI agents and systems to work together, and will allow consumers to purchase products from retailers directly through Google's AI Mode in the browser or the Gemini app.
-
Acting CFPB Director Russell Vought agreed to request $145 million in funding from the Federal Reserve, yielding to a court order to avoid a contempt citation.
-
Jelena McWilliams, former chair of the FDIC, is joining data sharing fintech Plaid as its new president of corporate and external affairs.
-
Prosperity Bancshares is fast-tracking bank acquisitions; PNC closed its acquisition of FirstBank Holding Company; BrightBridge Credit Union finalized its merger with Arrha Credit Union; and more in this week's banking news roundup.
- 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.
Attackers stole over $340,000 in stablecoin from the Venezuela-focused app. The incident adds to recent troubles including frozen accounts at JPMorganChase.
A housing official renewed his call for credit bureaus to address lenders' concerns. Low pull-through magnifies a cost that's small relative to others.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from Glance
-
Sponsor Content from IBM -
Sponsor Content from ServiceNow -
Sponsor Content from ServiceNow
