Attackers stole over $340,000 in stablecoin from the Venezuela-focused app. The incident adds to recent troubles including frozen accounts at JPMorganChase.
The German bank said the new space will help its 7,000 bankers in New York connect with startups.
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The senators introduced legislation that would limit the interest rate card issuers are able to charge holders for the next five years.
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With analysts citing pressure from fintechs, CEO Alex Chriss says artificial intelligence is expanding the company's payment and marketing tools as PayPal battles Stripe, Block and other rivals.
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As Elon Musk and his associates gain access to internal computers, Oregon Democratic Sen. Ron Wyden slammed the move and said it poses a national security risk. Musk said the Treasury system isn't adequately fighting fraud and is also attempting to shut down USAID.
In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.
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From donations to help Puerto Rico recovery efforts to aiding CMN hospitals, the United Way and more, here's how credit unions are giving back.
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The Consumer Financial Protection Bureau on Tuesday ordered Citibank to pay $6.5 million in consumer relief and penalties for student loan servicing failures.
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Mike Warriner joins the bank with a focus on setting its digital platform strategy.
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The Consumer Financial Protection Bureau has taken a hands-off approach to servicers during the pandemic. But with forbearance plans set to expire and President-elect Biden likely to appoint new CFPB leadership, companies lacking aggressive plans to help borrowers could face tougher enforcement.
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Some lenders are poring over commercial portfolios more frequently than normal — perhaps as often as once a month — to uncover problems hidden by payment deferrals and government stimulus before it's too late.
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On the same day that Mr. Cooper announced a settlement with state and federal authorities over its servicing practices, the Dallas company, U.S. Bank and PNC reached separate agreements with DOJ regarding bankrupt borrowers.
The Federal Deposit Insurance Corp. said while bank earnings rose in Q4 2024, smaller banks weren't as fortunate amid realized losses on securities sales.
A district court judge this week has denied allowing four groups — the American Fintech Council, Financial Data and Technology Association, Financial Health Network and Public Citizen — to file legal briefs in support of a rule on financial data rights.
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In the wake of multiple successes in 2023, the labor movement in the U.S. is continuing its efforts to expand. Recent successful union elections at Wells Fargo branches should be a wake-up call to the industry.
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Judicial review of bad rulemaking is a right that all regulated industries enjoy. But some industries avail themselves more than others, and the ones that rely on it the most tend to get worse policies. Banks should take notice.
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Credit card late fees are annoying, but that's why they work as a disincentive to prevent late payments. By making them much smaller, the CFPB will actually be working against the interests of low-income consumers.
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Visa and Mastercard logged increases in holiday spending, an industry group called for increased BNPL regulation in the U.S., and more in this week's global payments roundup.
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When Congress returns from its recess in 2026, a number of financial legislative issues will be teed up, including crypto market structure, deposit insurance and supervisory disputes.
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New Jersey-based OceanFirst Financial slid in its planned $579 million acquisition of Flushing Financial just before the end of the year. The private equity firm Warburg Pincus is also participating in the transaction.
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Credit unions hit new highs in membership, deposits and loans in 2025. But it was also a chaotic year for the industry's governing body, and the sector faced renewed attacks by banks.
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U.S. District Judge Amy Berman Jackson said the administration must request funds from the Federal Reserve, rejecting a Trump DOJ legal theory.
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The year was marked with six state regulations, new entrants, product and market expansion from existing EWA providers and buy-in from investors.
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Donald Trump, Taylor Swift and the CEOs of the biggest banks: We checked back to see if our predictions were correct about whether these bankers, regulators and payments execs made an impact on the industry this year.
While the term "financial supermarket" may have gone out of fashion, firms still see opportunity to boost profits and keep clients loyal by blurring the lines between banking and wealth management.
The 23rd annual ranking of women leaders in the banking industry.
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