A Consumer Financial Protection Bureau report on Pay in 4 buy now/pay later loans offered validation for an industry that has faced criticism for expanding into everyday spending, such as food delivery.
Donald Trump's stunning upset in the presidential race on Tuesday is likely to embolden his followers to push for changes to Internet law that could significantly alter how financial technology is conceived, built and delivered to market.
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By offering its authentication technology to other issuers, the credit card lender can compete with payment networks and mobile wallets. But it will have to persuade other banks to get on board.
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The company, which helped consumers strategize their credit card payments and pivoted to a B2B model earlier this year, has sold its intellectual property two months after it folded.
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A court said the technology giant must be less restrictive at checkout. The move will likely lower transaction fees, but it still won't be easy for competitors to grab market share.
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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The $9 billion-asset company said in a press release Monday that it bought the business assets of Ronald N. Lazzaro in Rutland, Vt., a financial planning an investment services firm.
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Mobile could become the one-stop shop that banking companies never quite achieved, blending basic banking, wealth management and other services, if efforts like those underway at Citigroup's fintech unit succeed.
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Citizens Bank is the latest to partner with a robo-adviser, but it plans to quickly make the digital investment advice its own.
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The panel shot down a proposed interim final rule regarding time limits for overdrafts, the first time in recent memory that an issue before the board did not have the votes to pass.
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The much-anticipated proposal, which would not go into effect until after Fannie Mae and Freddie Mac are privatized, reflects Director Mark Calabria’s aggressive efforts to get the companies on a strong financial footing.
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Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”
The Georgia-based bank plans to hire 85 relationship managers over the next three years to support growth in commercial and middle-market lending and private wealth. "The biggest risk is not being able to hire the bankers," said CEO Kevin Blair.
The quarterly data showed bank profits were driven by gains at large firms while credit quality remained mixed, with commercial real estate loan stress at relatively high levels.
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Three years removed from the Black Lives Matter protests, banks have not fulfilled their promises to help close the racial wealth gap.
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An advocate for retail merchants takes issue with a BankThink article criticizing the Credit Card Competition Act.
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There are good reasons to be skeptical in the face of predictions of a revolution in banking led by generative artificial intelligence.
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The Texas-based community bank is turning itself into a "digital asset financial institution" as the Trump administration pushes crypto-friendly policy and other banks make their bids.
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KeyCorp CEO Chris Gorman said Tuesday that the bank has doubled its buyback plans for the fourth quarter and laid out a new long-term profitability target. The comments came a few days after HoldCo Asset Management issued a scathing report about the bank's performance.
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Democratic senators are calling for Senate Banking Committee Chairman Tim Scott to compel the acting director of the Consumer Financial Protection Bureau to testify.
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In a new interpretive letter, the Office of the Comptroller of the Currency will allow banks to serve as middlemen for "riskless" crypto trades, extending existing brokerage authority for securities to digital assets.
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New rules means sellers and servicers will need to have plans demonstrating proper oversight of their artificial intelligence and machine learning practices.
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The discussions are expected to focus on bankers' opposition to allowing interest payments on stablecoins, along with the ability of banks to compete in the crypto space and preventing the use of cryptocurrencies to facilitate illegal activities.
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Companies such as Google, Visa and Mastercard are building a framework that will allow AI agents to shop and make payments. There are signs that consumers are warming to the idea.
The Toronto-based loan fintech received an IFE license from Puerto Rico to launch Propel Bank.
The 23rd annual ranking of women leaders in the banking industry.
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