CIBanco SA, Intercam Banco SA and brokerage Vector Casa de Bolsa SA are all "of primary money-laundering concern," FinCEN said. Treasury Secretary Scott Bessent said they are "vital cogs in the fentanyl supply chain."
-
AI agents have the power to automate a number of once-manual tasks: They can conduct background research, generate content, write code and analyze data. In their latest evolution, driven by Visa, Mastercard and other fintechs, payments are now on the menu of services.
May 7
-
The bureau's Tuesday afternoon announcement follows an earlier statement that it would walk back a rule that places buy now/pay later loans under the Truth in Lending Act's Regulation Z, a move that will ease compliance for fintechs that offer installment loans.
May 6
-
Eliminating overdraft charges is Stearns Bank's latest move to limit fees that its customers pay. CEO Kelly Skalicky says deposit service fees aren't a good business model.
May 6
-
House Financial Services Committee ranking member Maxine Waters, D-Calif., blocked a planned joint hearing on a crypto market structure bill amid concerns about the Trump family's conflicts of interest in cryptocurrency.
May 6
-
The bank partnered with fraud prevention company Threat Fabric to create a taxonomy the companies hope will make it easier to communicate about fraud.
May 6
-
The pending acquisition is one of several large deals involving payment companies in recent years as legacy firms look for combinations that can counter newer fintech rivals.
May 6
-
Treasury Secretary Scott Bessent said he expects negotiations with trading partners over tariffs to conclude by the end of the year but acknowledged that talks with China had not yet begun.
May 6
The idea of creating software from "vibes" or feelings seems antithetical to the buttoned-up and highly regulated world banks live in. But experts say there's a place for it.
CIBanco SA, Intercam Banco SA and brokerage Vector Casa de Bolsa SA are all "of primary money-laundering concern," FinCEN said. Treasury Secretary Scott Bessent said they are "vital cogs in the fentanyl supply chain."
Big banks with the strongest financial performance varied in asset size, geographies and services.
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
An error in data submitted to the Consumer Financial Protection Bureau about consumers with no credit record — known as "credit invisibles" — has skewed the agency's reports, showing that the number of Americans without credit histories is half what it was thought to be.
The data aggregator intends to continue sharing data with Envestnet and U.S. banks after the acquisition.
Experts told lawmakers that quantum computers will soon render today's encryption obsolete — and foreign adversaries know it.
CIBanco SA, Intercam Banco SA and brokerage Vector Casa de Bolsa SA are all "of primary money-laundering concern," FinCEN said. Treasury Secretary Scott Bessent said they are "vital cogs in the fentanyl supply chain."
An error in data submitted to the Consumer Financial Protection Bureau about consumers with no credit record — known as "credit invisibles" — has skewed the agency's reports, showing that the number of Americans without credit histories is half what it was thought to be.
The data aggregator intends to continue sharing data with Envestnet and U.S. banks after the acquisition.
Experts told lawmakers that quantum computers will soon render today's encryption obsolete — and foreign adversaries know it.
Alan Childs pleaded guilty to using straw borrowers and falsified loan records to help a timber businessman secure millions in fraudulent loans.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
- Crypto-as-a-service, stablecoins and tokenized deposits all present opportunities for banks, according to Nathan McCauley, co-founder and CEO of Anchorage Digital.Sponsored by IntraFi
-
The banks have invested in gen AI and embedded finance, respectively.
August 12
-
A service outage on Friday at Fiserv affected multiple banks and crippled at least 60 applications for some Fiserv customers, including Early Warning's peer-to-peer money transfer app Zelle. The issue, while resolved, reiterates the importance of bank redundancies.
May 5
-
Curve, a London-based fintech, has added a mobile wallet to its flagship product that lets consumers switch cards after the point of purchase.
May 5
-
A bipartisan alliance backing stablecoin legislation shattered in the U.S. Senate.
May 5
-
The bank in the past year returned to offering loans backed by the cash that investors pledge to funds.
May 5
-
Paper check use is dropping, but it's still high enough to be a fraud concern for banks. The Trump administration's move to mandate digital could force banks to dump paper once and for all.
May 5
