In a newly created role, Kerrins' mandate is to modernize the bank's platforms and embed AI capabilities across the enterprise.
Mondo, a U.K. challenger bank, plans to make it easy for customers to use financial products and services from other companies. Rather than giving away the store, the bank says this approach will make it a marketplace.
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Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Durbin, D-Ill. — which aims to spur competition for Visa and Mastercard.
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London-based global money-transfer firm TerraPay has hired Ruben Salazar Genovez, the longtime global head of Visa Direct, in a new role as the startup's president; U.K. challenger bank Revolut has added a tool that uses machine learning to flag payments for fraud; and more.
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The combined company could streamline card payments in a manner similar to American Express' "three party network" — while also doing more with artificial intelligence and other technologies.
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
Maryland-based Forbright Bank, which is led by a onetime Democratic presidential candidate, relied extensively on brokered deposits as it grew after a 2021 rebranding. The bank says it has made changes in response to regulators' concerns.
The Federal Reserve's top regulator said banks drop customers they see as too risky, and anti-money-laundering actions are "just straight-up-the-middle risk management and banking."
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The FHFA should focus on the facts as it ponders the future of the Federal Home Loan Bank System.
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Sens. Elizabeth Warren, D-Mass., and Pat Toomey, R-Pa., have joined forces to subject regional Fed banks to heightened public scrutiny. How long the coalition lasts depends on what that new scrutiny reveals.
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The agency is needlessly raising banks' costs at a time of severe economic uncertainty.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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Creditors of the subprime auto lender Tricolor, which filed to liquidate in bankruptcy this month, are staking their claims on the company's remaining assets.
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There are plenty of ways that lawmakers could help community bankers. Raising federal deposit insurance limits by a factor of 40 isn't one of them.
The 23rd annual ranking of women leaders in the banking industry.
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