Acquiring the $5.8 billion Northfield Bancorp would give Columbia a presence in both Brooklyn and Staten Island. The deal provides a window into the impact of New York Mayor Zohran Mamdani's plan to freeze rents on the city's multifamily real estate market.
One lawsuit has already been filed against Equifax in the wake of its massive security failure. But that’s the just beginning of the consequences for the credit bureau and the Fis that use it.
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If you are still thinking of blockchains as slow, clunky and expensive, do not feel badly. As is the story of many emerging technologies, they evolve quickly.
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Banks sued the Consumer Financial Protection Bureau last year to stop the 1033 open banking rule from taking effect. Now the Trump administration plans to kill the rule.
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The Brazilian neobank expanded its bank accounts for minors with new features in 2024 by adding high-yield savings "boxes" and expanding parental controls.
Hawaii State FCU has a dedicated branch for testing new products. It's a format that other institutions could follow.
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The director of the Consumer Financial Protection Bureau has asked Congress to clarify its ability to conduct exams that ensure compliance with the Military Lending Act.
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The company's fourth-quarter results were also stymied by costs tied to severance and litigation, along with investments in technology.
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The Financial Solutions Lab, a joint initiative, has announced the winners of its annual competition to identify solutions to consumer financial challenges, this year focusing on startups dedicated to improving financial health in the workplace.
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The San Francisco-based online lender originated more than $2 billion in personal loans during the first quarter, a big jump from a year earlier. The surge made up for softness in the company's home loan and student loan businesses.
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Roughly 24,000 people had new foreclosures listed on their credit reports in the first quarter, up from about 9,000 three months earlier, a Federal Reserve Bank of New York report says. States are trying to cushion the blow on homeowners now that many pandemic-related federal protections have ended.
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Multiple factors have slowed residential sales, tightening the market for home loans for banks and credit unions.
The Senate's version of a stablecoin regulation bill cleared a key procedural hurdle as the Senate voted 66-32 to invoke cloture on the legislation. A final vote on the Senate floor is expected within weeks.
The embattled regulator has dropped more than half its Biden-era docket, including cases against Apple and U.S. Bank. But insiders at the bureau say that's just the beginning.
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Overdraft fees continue to be in the spotlight, with the Consumer Financial Protection Bureau proposing a rule essentially to cap them. Certain credit unions are also now required to disclose additional information on this revenue stream.
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Nothing less than a whole-of-government approach, in concert with the financial services industry, will be enough to address the spiraling cost of fraud to both businesses and consumers.
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Vice President and Democratic presidential nominee Kamala Harris' pitch for an "opportunity economy" is a sound political and economic vision. But banks must be a partner in making that vision into a reality.
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Even with the 4 basis point rise in the 30-year fixed over the past two weeks, mortgage rates are still hovering near three-year lows, Freddie Mac said.
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The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.
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A one-time accounting change will boost the bank's ability to spend on marketing. Traders flinched at the change; analysts called it a buying opportunity.
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The auto lender's earnings mostly surpassed expectations in the fourth quarter, but its financial outlook was dampened by its projection of a weaker labor market in 2026.
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New in American Banker, readers can search news and analysis to find what they need, powered by a hybrid AI search engine.
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A world of hundreds if not thousands of stablecoins sounds chaotic – but that's because we're still thinking of stablecoins as money. Consider their potential for strengthening customer loyalty and engagement.
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At a time when banks have tokenization, stablecoin and blockchain projects in the works, senior leaders will exchange ideas at a New York conference.
State regulators say proposed changes by the Federal Reserve that would make state bank examiners the primary boots on the ground will make bank examinations faster, but could cause some issues to go overlooked.
The 23rd annual ranking of women leaders in the banking industry.
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