The national delinquency rate ticked up seven basis points to 3.72% last month, coupled with a 10-basis-point increase in prepayment speed, according to ICE.
Everything from company culture to data security concerns is hamstringing the pace of automation in financial services, per new American Banker research.
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When even a savvy expert in payments systems can't efficiently manage the transfer of funds to relatives in a crisis zone, it demonstrates that the system is failing us. We can and must do better.
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Sens. Ted Cruz, R-Texas, and Katie Britt, R-Ala., offered a new bill that would index the Durbin Amendment's debit fee threshold to inflation. The bill joins a number of community bank-centered bills offered or moving through Congress
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Minal Gupta has implemented new financial technology for years as an executive, and is taking the helm of her credit union as the entire industry ponders how to use real-time payments and new forms of AI.
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Provident Bank announces its new chief lending officer; the SEC's acting chairman asks a federal court to delay scheduling cases involving a rule on climate-related disclosure; the merger deadline for Capital One Financial's proposed acquisition of Discover Financial Services is extended; and more in this week's banking news roundup.
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Plenty, a finance app for couples, shifted from subscriptions to an investment advisory fee-based model to differentiate from other couples-focused fintechs.
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Citi's head of wealth said the firm is already working with a quarter of the billionaires in the world through its private bank. Now it just needs them to entrust it with managing more of their money.
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Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question.
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While Rocket increased 15 points, it slipped to 11th overall as other mortgage lenders had higher customer service score growth, J.D, Power said.
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Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
The custody bank will offer clients technology from Microsoft that lets them analyze their data in near-real time, hosted on the latest versions of Microsoft's public and private clouds.
Beneficial State Bank in Oakland has reached a three-year agreement with the Communications Workers of America. The deal follows a groundbreaking union pact the bank signed in 2021.
Kraken Financial's receipt of a limited Federal Reserve master account is leading some industry observers to question whether the approval creates a new avenue for master account-seekers or whether it's a preview of the proposed "skinny" account.
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Conditional approval of a national bank charter used to be a virtual guarantee that an institution would open its doors. But the OCC's recent treatment of Erebor Bank suggests that banks with conditional approvals still have work to do.
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There is a narrow window of opportunity for banks to position tokenized deposits as an alternative to stablecoins for customers seeking the convenience of cheap, blockchain-enabled payments.
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National ad campaigns are impressive. But few things create more goodwill or lasting impact than visible, hands-on support of a community's youth, no matter the size of the bank.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
The 23rd annual ranking of women leaders in the banking industry.
- Partner Insights from Engine by Gen
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