An appeals court's decision will make it harder for consumer-lending-focused fintechs to operate in Colorado. But the impact could eventually be felt more widely, according to both industry groups and consumer advocates.
The hacktivist group Anonymous, which brought down the Greek central bank's website through a distributed denial of service attack on Tuesday, claims it will be targeting financial organizations around the globe over the next 30 days.
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Rather than compete against the rising tide of account-to-account transactions, the two card networks are looking for ways to make themselves essential to this growing market.
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By embracing collaboration and innovation, Canadian banks can position themselves at the forefront
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New technology decoupling payment cards from the funding source of the transaction would stimulate competition between card issuers and networks — and raise prospects for Capital One's proposed $35 billion acquisition of Discover Financial Services.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Moven has modified its personal financial management app to work on a smartwatch. Will millennials be more likely to heed spending advice delivered to their wrists rather than their phones?
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City National Bank in Los Angeles is launching a new online magazine with a goal of driving more traffic to its website.
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Royal Bank of Canada, the country's second-largest lender by assets, said quarterly profit rose 11 percent on gains in Canadian banking and wealth management.
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The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report.
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While no one is suggesting that the plan will help banks regain the share they've ceded to nonbanks, bankers believe that stabilizing Fannie Mae and Freddie Mac could at least help them keep what they have.
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Industry groups are calling on the consumer bureau to eliminate the debt-to-income limit for “qualified mortgages” and provide a short-term extension of special treatment for Fannie- and Freddie-backed loans.
The Maine-based bank's bid for Northway Financial was valued at $86.6 million. It is expected to be finalized in the first quarter of 2025.
As President Donald Trump's tariffs whipsaw bank shares and threaten recession, the House Financial Services Committee chairman told a large room of bankers that efforts like repealing the small business data collection rule and passing legislation to Congressionally appropriate the Consumer Financial Protection Bureau are among his priorities.
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Main Street companies, particularly those owned by women and minorities, depend on the flexibility of community and regional banks for their survival.
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The proposal to streamline the Small Business Administration's signature program and expand the number of available lending licenses would benefit underserved communities.
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The run on Silicon Valley Bank was blunted by delays in wire transfer executions. FedNow will make bank runs much more efficient at draining deposits.
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Following a judge's rejection of a 2024 settlement with merchants, the card networks are offering a slightly higher interchange reduction and easing card acceptance rules. It's the latest attempt to end a legal fight that's two decades old.
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Sunrise Banks and other members of the Global Alliance for Banking on Values are encouraging their employees to train the generative AI models they use, so that the models understand values-based banking.
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Industry groups and consumer advocates are continuing to push for regulators to interpret the GENIUS Act's prohibition on stablecoin interest as broadly as possible, while crypto firms push for a narrower interpretation, arguing that increased competition would benefit consumers.
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Federal Reserve Governor Stephen Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.
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President Trump and housing regulator Bill Pulte are considering introducing a 50-year fixed rate mortgage that Fannie Mae and Freddie Mac would purchase.
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In its latest financial stability report, the Federal Reserve found that asset valuations continue to be elevated and leverage levels remain high, especially among nonbanks like hedge funds and insurance firms.
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Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country.
AI is transforming legacy modernization efforts as Wells Fargo builds systems for agents to take on humanlike tasks and interact with one another.
The 23rd annual ranking of women leaders in the banking industry.
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