The bank is adding trusted contacts, specialized teams and new tech against scams, but consumer advocates say reimbursement is the key missing piece.
The San Francisco bank isn't interested in making splashy investments in technology. At an investor day event Tuesday, Wells executives said they would focus on taking incremental steps to reduce costs and improve customer experiences.
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An iOS 18 update will enable a Tap to Pay-like system for peer-to-peer payments. Meanwhile, will BNPL rules be different in Australia than in the U.S.?
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Illinois' recent move to prohibit the inclusion of taxes and tips in credit card interchange fees suggests that electronic transactions are too expensive and also that there are too many entities working unilaterally to reduce those costs.
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PayPal has brought on expert pitchmen from Uber and Plaid to build an advertising platform for merchants. Its rivals are on a similar path.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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First Citizens BancShares in Raleigh, N.C., has hired Brent Ciliano to be its chief investment officer.
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BancPlus in Ridgeland, Miss., has hired two Morgan Stanley financial advisers to lead its new wealth-management unit.
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itBit, the startup Bitcoin exchange whose backers include former FDIC chairman Sheila Bair, has become the first digital currency firm to receive a trust charter under New York banking law.
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Credit unions in the Garden State are frequently at the bottom of national rankings for key financial metrics. Further consolidation is likely needed to help bolster these results.
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The regulator of Fannie Mae and Freddie Mac discussed steps the companies have already taken to limit their risk, as well as efforts to prevent housing market “overlap” with the FHA.
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The combination of low unemployment, rising wages and falling interest rates means more households are taking out loans for big-ticket items like speedboats and mobile homes.
ESL Federal Credit Union's plan to acquire Generations Bancorp marks the 16th deal this year in which a credit union plans to acquire a bank. While controversial, such transactions are swelling in number.
A bill being introduced by Sen. Catherine Cortez Masto, D-Nev., would compel the Federal Home Loan Bank System to contribute 30%, or a minimum of $200 million, of each bank's net earnings into affordable housing or other community development programs.
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Already well-established in other countries, a conduct risk authority would monitor banks for the kind of risky behavior that the current examination regime might miss.
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While the central bank's reverse-repurchase facility generally works to stabilize the financial system, under certain circumstances it would spark a rapid flow of deposits out of banks. A growth cap would prevent that problem.
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Antiquated rules separating banking and commerce are preventing an infusion of capital that would revitalize the banking market.
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Fintechs and banks approach innovation from different starting points. Noelle Acheson points out that this can be seen in their approach to payments, and now also in the approach to stablecoins.
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Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question.
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Central Bancompany said in a presentation to investors this month that it's looking to overhaul its core technology and data systems, while also hunting for a deal.
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The Consumer Financial Protection Bureau Thursday will publish a revamped version of its Section 1071 small business data collection rule, dramatically scaling back the data to be collected and the number of lenders who must comply.
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An appeals court's decision will make it harder for consumer-lending-focused fintechs to operate in Colorado. But the impact could eventually be felt more widely, according to both industry groups and consumer advocates.
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The new rules require banks in the ACH network to implement risk-based monitoring to combat rising fraud and scam schemes.
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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.
The 23rd annual ranking of women leaders in the banking industry.
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