The parent of Crosscountry Mortgage plans to use proceeds to pay down its mortgage-servicing rights line of credit as well as for general corporate expenses.
The app allows users, many of them first-time investors, to get started for as little as $5.
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The bank has added Affirm as an option, after adding the fintech's rival Klarna to its merchant network in February.
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The Consumer Financial Protection Bureau said it is "optimistic" that a lawsuit challenging the $8 credit card late fee rule can be resolved. The late fee rule is expected to be rescinded by the Trump administration.
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Former staffers at Block's crypto unit have launched Stable Sea, a firm that tries to make processing easier.
In a recent survey, financial institutions named artificial intelligence their top priority for investments against increasingly sophisticated fraud.
The $381 million deal for Alabama-based Southern States Bancshares would give FB entree to the sprawling Atlanta market. CEO Christopher Holmes said the bank would likely focus on nearby suburban communities initially.
The group expressed concern with the White House proposal to reduce the program's funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.
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Bankers and financial services professionals should be monitoring the rollout of the EU Digital Identity Wallet initiative, as it signals changes likely to arrive in the U.S.
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The basics of good banking — a strong balance sheet, customer service and solid risk analysis — will always be important. But in the future, technological competence will be the difference between the sector's winners and losers.
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With Americans suffering from high housing costs and declining supply, we cannot afford to watch a massive government-sponsored enterprise sit on billions in retained earnings.
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The bank is adding trusted contacts, specialized teams and new tech against scams, but consumer advocates say reimbursement is the key missing piece.
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Oresar, who joined BMO as head of treasury and payment solutions sales after more than two decades at JPMorgan Payments, spoke with American Banker about her priorities leading a new team; the importance of organic mentorship; and what clients are asking for to keep up with the fast-paced change that's happening to the payments industry.
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Artificial intelligence is bringing revenue increases and expense reductions throughout Bank of America, Hari Gopalkrishnan, chief technology and information officer, said at an event Monday.
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While the bank will no longer run the platform, it will continue providing mobility services to clients in the industry.
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The Department of Government Ethics on Saturday released financial disclosures for former Federal Reserve Gov. Adriana Kugler, showing she had executed several individual stock trades in 2024, including during Fed blackout periods, an apparent violation of Fed ethics rules. The Federal Reserve Inspector General has launched an investigation.
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BNY estimates the market for stablecoins, tokenized deposits and other assets will reach a combined value of $3.6 trillion in four years, while Standard Chartered says the entire banking industry will soon be "tokenized." The trend is creating pressure to update strategies and technology.
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The New York megabank, which completed the sale of a 25% equity stake in its Mexico retail business, has been exiting certain international markets as part of CEO Jane Fraser's focus on being a simpler, smaller bank.
GBank will serve as the bank partner for a cashless slot machine betting app that is looking to expand nationwide after getting a key regulatory approval in Nevada.
The 23rd annual ranking of women leaders in the banking industry.
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