The Boston-based custody bank has acquired PriceStats, a private economic researcher. The move comes at a time when federal data agencies are weathering budget cuts, political attacks and a government shutdown.
The New York company makes two- to three-year term loans of between $3,000 and $25,000. It is seeking to distinguish itself from other digital lenders by targeting young adults who have limited credit histories.
-
By training a core payment card fraud-detection platform on more than 15 billion transactions, the card network is honing the accuracy of warnings sent to issuers about suspicious purchases.
-
Incumbents face the challenge of updating their infrastructure for digital payments, while newcomers are pushing to compete by using artificial intelligence, cloud hosting and other technologies.
-
Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
Congress may hand oversight of almost 12,000 investment advisors to Wall Street's self-funded regulator as a cost-saving measure. The price could be paid by investors.
-
Lehman Brothers Holdings Inc. reached an agreement on a $65 billion liquidation plan with derivatives creditors including Goldman Sachs Group Inc. and bondholders led by the hedge fund Paulson & Co., ending a dispute that threatened to delay its exit from bankruptcy.
-
-
Seeking to expand financial services access, tribal officials and some firms want regulators to award Community Reinvestment Act credit to any bank that funds projects in Native American communities.
-
Readers react to jilted GSE legacy shareholders and a proposal making it harder to cite disparate impact, criticize Democrats asking the CFPB to stop its payday rule revamp and more.
-
The mortgage industry will be looking for answers when Treasury and HUD unveil reports on housing finance reform, but the Trump administration’s plans could also raise a whole new host of questions.
The $23 million cash transaction boosts Old Second's presence in its home Windy City market, while marking Muncie, Indiana-based First Merchants' exit from Illinois.
A sizable increase to the current $10,000 limit on SALT write-offs would represent a major victory for a crucial group of swing-district House Republicans.
-
The Home Loan banks should not be held harmless when they shovel billions of dollars in loans into troubled banks.
-
The idea that consumers and small businesses should be assessing banks' safety and soundness makes no sense today, if it ever did at all.
-
Small and midsize banks have been a lifeline to startups and founders. In the aftermath of SVB's failure, it is vital to avoid further concentration of the industry around the largest banks.
-
The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.
-
Analysts say the fintech must "grow like a fintech, but be profitable like a bank" as its capital base shrinks to its lowest level to date.
-
Comptroller of the Currency Jonathan Gould said Thursday that a proposal to reimagine bank supervisory practices is meant to empower rather than handcuff supervisors by limiting the scope of their examinations.
-
A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
-
Jerry Plush had helmed the South Florida-based bank for nearly five years before agreeing to depart this week. News of the leadership change comes little more than a week after Amerant reported a 43% increase in nonperforming assets.
-
Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
During Thursday's earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.
In comment letters on the Consumer Financial Protection Bureau's new rulemaking on personal financial data rights, consumers begged the agency to protect their data from misuse.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from IBM
- Sponsor Content from IBM