The credit union partnered with Happy Money's digital lending and participations platform. TruMark has purchased, but not sold, participations for the past five years.
WASHINGTON The Department of Homeland Security and the Department of Justice on Tuesday released guidelines for the implementation of the Cybersecurity Information Sharing Act, prompting some industry skepticism as well as renewed privacy concerns.
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The potential deal between the major card networks and merchants would see swipe fees reduced and capped for at least three years, pending approval by the U.S. District Court for the Eastern District of New York.
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The Consumer Financial Protection Bureau plans to release neutral credit card pricing data in the coming months to help consumers get the best deal, according to Director Rohit Chopra. Deceptive reward programs, late fees and data portability remain concerns, too, he says.
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Banks, especially big ones, have become too dependent on hidden-fee income. As the consumer credit market evolves toward greater transparency, the CFPB's rules will be the least of their problems.
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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U.S. insurers' sales of variable annuities rose 24% in the first quarter, led by policies that promise lifetime income and protect against market drops, at a time when investors are still wary of stocks.
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The compliance officer at Wunderlich Securities Inc. was well familiar with the rules for running a brokerage. That wasn't enough, however, to keep him and his firm out of serious regulatory trouble.
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Jeffrey Gundlach looks set to follow another bond fund star, Bill Gross, into the business of actively managed exchange-traded funds.
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The president signed an executive order Tuesday establishing a White House council dedicated to examining regulatory barriers to affordable housing.
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The New York bank has recruited a dozen commercial lenders from PacWest, Wells Fargo and other rivals, continuing its shift away from its historic reliance on multifamily lending.
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Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association.
The buyer said the all-stock deal to buy The First Bancshares would create a combined bank with $25 billion of assets.
Presidents have long rushed to take credit for booms and distanced themselves from busts. But Trump's situation is unusual. The risks to the U.S. economy — potentially including stagflation or even recession — are closely linked to his own flagship initiative: a new tariff bonanza due in just over two weeks.
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Two long-awaited developments — the Consumer Financial Protection Bureau's data access proposal and the Federal Reserve's faster payments network debut — are slated for next year. The combined effect on consumer banking might be more consequential than we now know.
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The U.S. should look abroad for innovative solutions to the problem of assessing the creditworthiness of borrowers with little formal credit history.
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SNAP recipients need easy and reliable access to their account balances and transaction histories. The Consumer Financial Protection Bureau ought to clear the way and let that happen.
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The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
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American Banker's 2025 Small Business Banking conference yielded lessons about the need for speed, simplicity and safety in small-business lending. Other key takeaways included the significance of digital payment options and the importance of continuing to process SBA loan requests during the government shutdown.
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Nine months after acquiring Heartland Financial, Missouri's largest bank posted a complicated quarter.
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The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.
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Credit analysts say climate risk could still pose a financial threat to financial institutions, even though the federal government has taken an ax to Biden-era climate guidance.
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The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.
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An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.
U.K. regulators approved the acquisition, which is part of Global Payments' plan to scale its point of sale restructuring.
The 23rd annual ranking of women leaders in the banking industry.
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