A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.
MemoryBank, a new digital-only bank unit of Republic Bank & Trust, aims to serve the sweet spot of customers who are digitally savvy but also have money.
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Instant payment adoption in the U.S. is growing but still trails countries such as Brazil and India. Generative artificial intelligence could be the key to help financial institutions accelerate payment velocity.
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As the company bolsters artificial intelligence-powered point of sale and battles other fintechs and the card networks, getting a boost with distribution has become a major priority.
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Top banking trades have thrown their support behind the central bank's argument that it has discretion over access to its payments systems. Custodia is seeking to appeal a lower court ruling that affirmed that discretion.
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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TD Ameritrade and its largest stakeholder, Toronto-Dominion Bank, agreed to buy Scottrade Financial for $4 billion, combining two of the largest online brokerages while expanding the U.S. operations of Canada's second-largest lender.
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Bank of New York Mellon's ability to bring in new business for its massive custody business propelled its quarterly profit.
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Northern Trusts success in attracting new trust and investment management clients helped to boost its third-quarter profit.
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Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's most-read stories.
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Lenders that scrambled to grant forbearance as the coronavirus pandemic took hold are unsure about the extent of potential losses.
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An April survey from Clever Real Estate also found that potential home buyers and sellers have put their plans on hold.
The unionization push by members of the bank's conduct management intake team has been hotly contested. If approved, it would represent a landmark in the effort to organize workers at the $1.9 trillion-asset bank.
The House Financial Services Committee passed bills to expedite bank merger review, limit the use of reputational risk in bank examinations and imposing timelines for supervisory determinations.
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If the industry keeps consolidating at its current rate, there will be roughly 500 banks in 20 years. That will likely mean the loss of competition and choice for customers in some markets.
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The financial landscape is currently riddled with warning signs that point toward potential liquidity issues for banks.
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The Biden administration's misguided attempt to protect the banking system from itself will reduce credit available to the Americans who need it most.
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The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. announced Friday that they are withdrawing from a 2013 interagency leveraged lending guidance, arguing it was overly restrictive, pushed activity to nonbanks and sidestepped official rulemaking.
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The Trump administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year.
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The state is requiring merchants to accept cash denominations of $20 and under and prohibits them from charging extra to accept cash. The law, which goes into effect in March, comes as merchants are responding to the Trump administration's abrupt cancellation of penny production.
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A bipartisan housing provision has emerged as a critical negotiating point for passage of an uncommonly bank-relevant defense authorization bill.
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More than 400,000 consumers may be affected after Marquis Software Solutions suffered a breach traced to a bug in SonicWall software disclosed last year.
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Midland States Bancorp has completed three major asset sales in the past 12 months, exiting national business lines and shifting focus to its core community banking franchise.
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The New York Stock Exchange disclosed the news on Monday of the sudden passing of its head of International Capital Markets.
Bank of Marin Bancorp in Novato has sold a big chunk of low-yielding securities, replacing them with investments that should produce significantly more income.
The 23rd annual ranking of women leaders in the banking industry.
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