The fintech SpringFour has partnered with financial institutions to connect individuals to community resources in a record-long U.S. government shutdown.
Banks are slowly warming up to the idea of open APIs, essentially tools that allow banks to easily connect with others, but BBVA's Shamir Karkal says that they will likely also push banks to modernize their core systems.
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Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.
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Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
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The Federal Reserve has proposed that the two payments services run seven days a week, meaning they'd no longer close on weekends or holidays. The public has 60 days to comment.
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 European debt crisis would pose a threat to U.S. money market mutual funds if a rash of sovereign defaults caused big banks to fail to meet obligations within the next three months.
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The mortgage industry will be looking for answers when Treasury and HUD unveil reports on housing finance reform, but the Trump administration’s plans could also raise a whole new host of questions.
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With long-term interest rates at historic lows, mortgage refinancing is coming on strong. But that additional revenue may not be enough to offset net interest margin pressures and lost servicing income.
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Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule.
The combination, expected to close next year, would create a regional bank with $17 billion of deposits across 10 states.
The Trump administration is leapfrogging the normal process by taking its fight over a district court injunction blocking efforts to shut down the Consumer Financial Protection Bureau to a federal appeals court, according to the CFPB workers' union.
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Small and midsize banks have been a lifeline to startups and founders. In the aftermath of SVB's failure, it is vital to avoid further concentration of the industry around the largest banks.
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Protections must extend to all rapid payment systems to prevent a race-to-the-bottom among both financial institutions and criminals.
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Depositors' trust in their banks — and banks' trust in their customers — is the cornerstone of finance. The demise of Silvergate, Silicon Valley and Signature has demonstrated how fragile that trust can be, and how difficult it will be for regulators and bankers to win it back.
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Comptroller of the Currency Jonathan Gould said Thursday that a proposal to reimagine bank supervisory practices is meant to empower rather than handcuff supervisors by limiting the scope of their examinations.
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A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
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Jerry Plush had helmed the South Florida-based bank for nearly five years before agreeing to depart this week. News of the leadership change comes little more than a week after Amerant reported a 43% increase in nonperforming assets.
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Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
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The Federal Reserve Board finalized changes to its supervisory rating framework, allowing large bank holding companies to be considered "well managed," even with one deficient rating.
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As the emerging form of artificial intelligence impacts payments, pace of payment disputes and the workload will change.
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A Luxembourg court ruled against the bank in a long-running lawsuit tied to its custodial role for a fund that invested in the massive Ponzi scheme.
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.
The 23rd annual ranking of women leaders in the banking industry.
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