The Made in America Manufacturing Finance Act would double the loan-size threshold for SBA manufacturing loans to $10 million. It would be the first change to the limit since 2010.
The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.
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Noelle Acheson asks whether stablecoins can be considered "money" according to traditional definitions. And if not, what does that mean for payments?
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The U.K. fintech has launched a series of products that expand on its core payments business and compete with banks and other payment technology firms.
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Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.
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Highland Associates has $26 billion in assets under management on behalf of not-for-profit medical endowments and foundations. Regions Financial is following the lead of other regionals, which have been scooping up investment firms that specialize in health care.
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For First Republic Bank in San Francisco, “the pain index is likely somewhere between excruciating and traumatic,” says one expert. But few realize how much the bank got for its money.
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Provident Bancorp, one of the nation's oldest active banks, is setting the stage to become a fully stock-owned company.
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The sleepy Federal Home Loan Bank System is under intense scrutiny as critics push for more oversight and increased affordable housing while supporters say the system works well for member banks.
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The 30-year fixed rate surged 15 basis points from a week earlier but ends 2022 at more than twice its mark from a year ago.
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The sharpest run-up in rates seen in over three decades slashed mortgage origination volumes, and contributed to a volatile market environment, but had some cyclical benefits for servicing.
Assemble allows Mastercard partners or issuers to provide checking, budgeting and payment features, as well as additional money management.
The parent company of Wayne Bank said it would buy PB Bankshares for $54.9 million in cash and stock.
Federal Reserve Gov. Christopher Waller has directed central bank staff to explore the concept of a limited payment account, which would give nonbank entities in the payments space — including crypto firms — access to traditional payment systems.
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The U.S. is well behind other countries in implementing open banking and delivering its benefits to customers. Brazil's success in that area can serve as a useful model.
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"Too big to fail" banking giants like to masquerade as community banks when it suits their purposes, but they will never be able to replace real, local bankers with deep ties to their customers.
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In a string of speeches last week, the top federal banking regulators outlined goals and framed their thinking about artificial intelligence in financial services, but the biggest questions around liability and widespread adoption remain unanswered.
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Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
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The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
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Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
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The letter claims the flood insurance premium pricing change has made the product unaffordable, resulting in a large drop off in the number of policies.
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Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
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The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
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Unlike some of its expansion-minded regional bank peers, Montana-based First Interstate is reconfiguring its business model to be smaller and more focused on relationship banking. The blueprint is the work of CEO Jim Reuter, who joined the bank 15 months ago.
Renat Abramov, a former relationship manager in Brooklyn, bypassed know-your-customer protocols to open accounts for shell companies involved in a $14.6 billion scheme.
The 23rd annual ranking of women leaders in the banking industry.
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