Social Security numbers, business addresses and other sensitive information were exposed. The company has fixed the error and refunded the victims.
Scarlett Sieber will be based in the bank’s Labs division, working on forging partnerships with fintech firms.
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The online gambling operator, which was recently fined $450,000 by Massachusetts regulators, indicated that its new policy is designed to protect customers from cash-advance fees.
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The deal will allow Workday to offer Chime Workplace, the neobank's suite of enterprise financial wellness solutions, to its clients. For Chime, the partnership provides a wider reach to new potential deposit accounts.
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Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information, according to people familiar with the matter.
The bank's chief technology officer is testing several ideas for using advanced AI to improve processes and customer experience.
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The Illinois company will sell Bates Cos. to an undisclosed buyer less than two years after buying the wealth management firm.
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Funneling fees from emergency loans to feed the hungry. Supporting psychological counseling for health care heroes and financial advice for the poor. Backing retrofits of customer operations to produce protective gear for front-line medical personnel. Bankers and financial educators have tossed out the traditional playbook to help clients and communities in crisis.
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Just over 40% of respondents with private student loans said they had worked with their lenders to come up with a plan for reduced payments.
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The bank said it would continue to make multifamily loans to current customers that have depository or other bank relationships. The move comes amid rising concerns about the impact of high interest rates on the apartment sector.
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The Federal Reserve vice chair for supervision said regulators will adapt supervisory practices to account for advancements in machine learning.
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But the volume of activity for distressed properties is still lower than the historic norms, Attom Data Solutions said.
Horizon Bancorp said it will raise about $200 million in capital to fund a major balance-sheet restructuring. The move would dilute existing shareholders, and the company's stock price dipped on Thursday.
Federal Reserve Gov. Lisa Cook, citing several studies, outlined her concerns Thursday that generative AI could be used to manipulate markets, and regulators have not yet thought through how to police such activity.
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President Donald Trump's concerted effort to bring the entirety of the executive branch under his direct control defies tradition, and in some cases, likely the law. Banks have thus far voiced little objection, but they should know how critical the rule of law is to their bottom line.
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Too often, banks confronting a problem with their anti-money-laundering compliance opt for quick fixes that fail to address the root of the problem. Building a good corporate risk culture takes time and investment.
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Banks are analyzing their regulatory exposure through the lens of "red state" versus "blue state" requirements — a consideration that would have been unthinkable just a few years ago.
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Alexis Goldstein, who was terminated from the Consumer Financial Protection Bureau last week, is running for Congress in Maryland's 6th District, which hosts a disproportionate number of federal workers.
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Banks and credit unions are pairing AI-driven efficiency with stable staffing and cross-training to scale mortgage production as originations rebound and technology expands capacity.
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The Federal Reserve is moving quickly to implement its proposed "skinny" master account, giving state-chartered fintechs more access to the central bank's payment systems. But experts say a legal challenge to the rule is almost certain, regardless of where the Fed draws the line.
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Some observers say changes to MSR risk-weighting would have limited near-term impact and are unlikely to prompt banks to rush back.
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The fintech deal market has started to return to pre-pandemic levels, according to recent Pitchbook data, with boosts from big deals like Revolut's fundraises.
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New York Attorney General Letitia James warns that scammers are coaching victims to bypass bank security and using "second act" schemes to steal more.
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Affordability concerns are driving consumer demand for short-term liquidity products like earned wage access. A similar, credit union-backed lending alternative is gaining popularity as a way to amass new customers and, for banks, CRA credit.
Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Monday morning that the central bank will introduce two capital proposals that she said are aimed at boosting banks' role in the mortgage market.
The 23rd annual ranking of women leaders in the banking industry.













































































