Leading Democrats on the Senate Banking Committee sent a letter to Chair Tim Scott, R-S.C., pointing out the as-yet unsatisfied legal requirement for prudential regulators to appear in Congress semiannually.
Designed for Japan's automotive industry in the 1990s, QR codes remain a common feature in the latest mobile wallets. They have pros and cons that banks need to carefully consider.
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By offering its authentication technology to other issuers, the credit card lender can compete with payment networks and mobile wallets. But it will have to persuade other banks to get on board.
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The company, which helped consumers strategize their credit card payments and pivoted to a B2B model earlier this year, has sold its intellectual property two months after it folded.
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A court said the technology giant must be less restrictive at checkout. The move will likely lower transaction fees, but it still won't be easy for competitors to grab market share.
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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Citizens Bank is the latest to partner with a robo-adviser, but it plans to quickly make the digital investment advice its own.
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Johnson, 54, will succeed her father, Edward "Ned" Johnson, as chairman of the family-run firm in early December.
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In the days of diskettes, Quicken was an innovator. Now, the personal financial manager aims to reclaim its glory days as it targets the 35-and-older crowd.
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The much-anticipated proposal, which would not go into effect until after Fannie Mae and Freddie Mac are privatized, reflects Director Mark Calabria’s aggressive efforts to get the companies on a strong financial footing.
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Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”
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The Baltimore-area credit union crossed the latest threshold despite a dip in net income during the first quarter as many organizations struggle with the coronavirus fallout.
The Georgia-based bank plans to hire 85 relationship managers over the next three years to support growth in commercial and middle-market lending and private wealth. "The biggest risk is not being able to hire the bankers," said CEO Kevin Blair.
The quarterly data showed bank profits were driven by gains at large firms while credit quality remained mixed, with commercial real estate loan stress at relatively high levels.
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There are good reasons to be skeptical in the face of predictions of a revolution in banking led by generative artificial intelligence.
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The Indian government's efforts to create digital public access for women can be a model for other countries.
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Higher interest rates, deposit flight and looming credit losses were roiling the banking industry a few months ago, but so far banks seem to be weathering the storm. That doesn't mean things can't get worse.
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Brex is powering Fifth Third's commercial card issuance in a move that boosts the fintech's distribution network and provides the bank with a more competitive commercial card proposition.
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A new bill from Sens. Katie Britt, R-Ala., and Catherine Cortez Masto, D-Nev., would streamline the Securities and Exchange Commission's small-business surveys, which the agency uses to consider the needs of small businesses in rulemakings.
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The student lending giant offered forecasts of future earnings that were far below Wall Street's expectations. In recent months, Sallie Mae has been upbeat about the new opportunities it sees under the Trump administration.
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PayPal and other fintechs already offer small business loans based on future payment flows, creating a competitive market.
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The lawsuit alleges the fintech giant secured its own corporate data with strong MFA while leaving client systems vulnerable to compromise.
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A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.
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While banks welcome the "whole-of-government" approach that led the effort, private sector takedowns remain difficult without federal warrants.
A group of European banks have formed Qivalis, which expects to launch its coin in early 2026 as a counter to the U.S. dollar-led market. Plus, Singapore regulators give Ripple permission to expand and other news in the global payments and fintech roundup.
The 23rd annual ranking of women leaders in the banking industry.
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