Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.
Combing through data to find people whove paid for something twice or left their cash at the ATM helps the bank build goodwill with customers, says analytics chief Christian Nelissen.
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The credit card issuer said it's "cautiously optimistic" about its borrowers' financial health, with charge-offs expected to rise not much further than pre-pandemic levels. The upbeat outlook contrasts with a key competitor's guidance of significantly higher losses.
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The digital financial services firm announced layoffs Tuesday, with the goal of keeping the company steady until conditions improve for its business users.
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Fintechs' venture capital funding began to evaporate last year, while payments startups fared somewhat better by emphasizing quicker pathways to profits. It's a trend experts say is likely to persist this year as investors remain more cautious about costly or long-term plays.
Research, insights and data on how banks and financial institutions are using AI can now be found in a new location on American Banker.
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Financial advisers have known for some time that Americans have lost confidence in their ability to afford a comfortable retirement, but for confidence to plunge just as economic indicators were perking up?
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Brokers and financial advisers looking to make more money and have more control over the type of clients they serve and the investments they recommend continued to flood the independent channel at a swift pace in 2010, according to a broker and adviser sentiment index survey conducted on behalf of Fidelity Investments.
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Taylor, Bean & Whitaker Mortgage Corp.'s former chairman, Lee Farkas, ordered data sent to Colonial Bank for nonexistent loans in an effort to cover up growing deficits, an ex-president said.
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The Federal Housing Finance Agency in recent years has required Fannie Mae and Freddie Mac to contribute to the funds every March, but has yet to make a 2019 request. Housing groups see the delay as a troubling sign.
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University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.
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The bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well.
Shan Hanes, who led Heartland Tri-State Bank in Kansas until it failed last year, pleaded guilty to one count of embezzlement by a bank officer. He now faces up to 30 years in prison. He is scheduled to be sentenced on Aug. 8.
The Federal Deposit Insurance Corp. said while bank earnings rose in Q4 2024, smaller banks weren't as fortunate amid realized losses on securities sales.
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"Voluntary changes are not enough to assure that our lowest-income consumers will be protected in the long run," writes the Democratic House member from New York City.
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In her new book, “Direct: The Rise of the Middleman Economy and the Power of Going to the Source,” Columbia Law professor Kathryn Judge examines how middlemen offer — and often limit — consumer choice.
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The text of the Overdraft Protection Act hasn’t changed in 10 years, but the banking industry has shifted dramatically.
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In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
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Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
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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.
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Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
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Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.
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The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
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The company is becoming a full-fledged processor and accelerating its artificial intelligence plays, moves CEO Paulette Rowe said provide more control over agentic commerce, which payment experts say is threatening traditional payment facilitators.
As Coinbase joins a wave of crypto companies seeking national trust charters from the Office of the Comptroller of the Currency, traditional banks are warning regulators not to rush approvals for crypto firms eager to enter the federal banking system.
The 23rd annual ranking of women leaders in the banking industry.


































































