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.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
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Most financial institutions are seeking ways to speed up payments, but one neobank is looking to slow them down to protect a segment of the population frequently targeted by scams.
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Bank of America, Citigroup, HSBC and others are increasingly using sustainable and recycled materials for manufacturing
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Vice President Kamala Harris could stoke a conflict between bankers and merchants over interchange fees as she targets high food prices as part of her presidential campaign.
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The scramble to cut costs at State Street continues as the custody bank seeks to make up for declining fees and add revenue-generating businesses.
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The Fed's December interest rate hike helped PrivateBancorp's first-quarter profit, as yields rose on its variable-rate loans.
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Bank of New York Mellon, the custody bank under pressure from activist investors to improve results, reported a 5% increase in first-quarter profit as it cut expenses and benefited from higher interest rates in the U.S.
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With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors.
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Member business loans have been on a roller coaster over the last year and as the pandemic impacts the economy, executives will need to closely monitor these portfolios to catch any problematic credits.
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A new study finds that along with fears about employment, nearly half of those who have savings or an emergency fund are dipping into their reserves as a result of the coronavirus.
The sheer amount of data created in recent years has exploded, leaving banks with a tremendous amount of data sets to mine through. Community banks need to utilize analytics to stay competitive with their big-bank peers.
Senior loan officers polled by the Federal Reserve reported that they further upped their standards for approving credit for customers. But they also signaled that concerns are easing and credit quality is poised for improvement.
The Consumer Financial Protection Bureau issued a policy directive rescinding scores of standing guidance documents, interpretive rules and advisory opinions in a bid to reduce compliance costs.
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Banks need to rethink their relationships with customers for an era in which transitioning to a new financial services provider carries far fewer costs.
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The Basel III: Endgame proposal, as well as forthcoming proposals on living wills, uninsured deposits and long-term debt are coming as banks' interest rate margins are getting slimmer, loan demand is weakening and bank credit seems headed for a downgrade. That's a lot of headwinds for the banking industry.
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Under the proposal being considered by the agency, recipients of public benefits would be unable to enjoy the same access to their financial data given to other citizens.
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The Toronto-based loan fintech received an IFE license from Puerto Rico to launch Propel Bank.
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As federal watchdogs step back from regulating "Buy Now, Pay Later" loans, state authorities are stepping in. This week, the attorneys general from California and several other blue states joined the fight.
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The Troy, Michigan-based lender and servicer faces at least seven lawsuits over a hack in June allegedly perpetrated by a known ransomware gang.
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In a relatively mild oversight hearing in the House Financial Services Committee Tuesday morning, regulatory heads at the Federal Reserve, Office of the Comptroller of the Currency, National Credit Union Administration and Federal Deposit Insurance Corp. outlined plans for reduced capital requirements and debanking enforcement.
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South Plains Financial agreed to pay $105.1 million in stock to acquire a seven-year-old Houston community bank in its first M&A foray since 2019.
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Former Comptroller of the Currency Eugene Ludwig has written a book called The Mismeasurement of America that lays out the shortcomings of the standard economic data that U.S. government and businesses use to make decisions, and how this data obscures the truth about how low-income Americans are actually faring.
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American Banker's newest ranking will recognize 50 bank executives leading innovation at their companies or in the industry at large.
Ten teams will be honored for executing the most innovative technology projects of 2025.
The 23rd annual ranking of women leaders in the banking industry.
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