The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.
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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The combined company could streamline card payments in a manner similar to American Express' "three party network" — while also doing more with artificial intelligence and other technologies.
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The blockbuster merger proposal will be reviewed at a time when the Biden administration is expressing skepticism about consolidation. Its analysis will have to account for markets dominated by both big banks and the likes of Visa and Mastercard.
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Data, volume and potential regulatory carve-outs are among the benefits Capital One Financial would get upon the completion of its deal to buy Discover Financial Services.
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A 20-year veteran of State Street, CEO Jay Hooley concluded that the custodial bank's business model did not have to fundamentally change — it just had to keep up with investors whose strategies did.
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New legislation in Iowa that allows banks and credit unions to utilize electronic notaries could help local lenders compete with online competitors.
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Housing advocates and Democratic lawmakers want to create more protections for tenants of rent-controlled apartments, but they are facing stiff opposition from property owners and the banks that lend to them.
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The industry welcomed a proposed overhaul of how the government identifies False Claims Act violations, but some say it remains to be seen if the changes are enough to satisfy companies that had bolted.
As the digital era continues to force banks to rethink what and who they are, institutions are increasingly pressured to relay their brand messages to consumers through newer mediums and in emotional ways rather than hard sales pitches.
Former employees of the Austin-based City National Bank still recall the 1981 flood that deluged the city and Whole Foods, and they take pride in the lender's role in rescuing what was then a fledgling health food store.
Employers added 151,000 employees in February and the unemployment rate ticked up to 4.1%. The reading bolsters the Federal Reserve's argument to hold rates steady amid economic uncertainty.
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Legislation that would make it simpler for banks to work with cannabis firms is always just about to arrive. But it never does.
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The Biden administration is methodically laying out a regulatory framework for crypto markets, but until that is in place it's allowing those markets to reap what they have sown.
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The industry is largely missing out on a huge segment of the market for financial services.
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Needham and Provident banks received all regulatory approvals and merge date; JPMorganChase hired veteran tech dealmaker Kevin Brunner from Bank of America; RBC Capital Markets will expand its presence in the equity derivatives market with two senior hires from UBS; and more in this week's banking news roundup.
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The Federal Reserve Friday issued a set of proposed changes to its stress testing program for the largest banks that would disclose the central bank's back-end stress testing models, a move that the Fed had long opposed out of fear of making the tests easier for banks to pass.
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Robert Hartheimer's arrest comes at a time when the bank is trying to recover from a consent order and the Synapse mess.
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Boston-based Eastern Bankshares is focused on organic growth, but it would "evaluate the opportunity" for M&A if a deal presents itself, its CEO said Friday. The comments came four days after an activist investor criticized the bank's recent M&A transactions.
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There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.
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The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.
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Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
The 23rd annual ranking of women leaders in the banking industry.
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