The banks want the pay-by-bank provider to use application programming interfaces to protect consumers, they say.
Fifth Third is using savings generated from closing more than 100 branches over the past year to expand its digital capabilities through a major IT hiring initiative.
-
Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
-
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
-
FedNow emerges as a key component of our industry's digital transformation, filling the void in our payment infrastructure and paving the way for a new era of banking.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
Bank of America Corp.'s Merrill Lynch unit must face a group lawsuit by union and public employee retirement funds over mortgage-backed securities, a federal judge ruled.
-
California has picked TIAA-CREF to manage its college savings plan that has about $4 billion of assets.
-
Investors would rather pay commissions for the financial advice they receive than a fee based on assets under management, according to Cerulli Associates.
-
JPMorgan Chase ends business loan partnership with OnDeck; Truist out to prove it can best the megabanks in tech; Capital One's data breach was bad, but it could've been worse; and more from this week's most-read stories.
-
The regulators have yet to complete rules on regional bank supervision, community bank capital and other provisions meant to ease institutions' burden.
-
The Federal Housing Administration is aiming to limit the share of borrowers who have been withdrawing money from the value of their homes.
An amicus brief filed in a lawsuit challenging newly finalized implementing regulations for the Community Reinvestment Act argues that the court was chosen because plaintiffs believe the court is more likely to rule in their favor.
The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs.
-
The high court's inevitable decision on the constitutionality of the Consumer Financial Protection Bureau's funding structure will tell us a lot about how radical the court is willing to be.
-
Even the newest technological innovation cannot beat personal interactions when it comes to forging a deep and meaningful association with clients, which typically lasts for years.
-
In "Limitless," the journalist Jeanna Smialek explores how the Federal Reserve has gone beyond its more traditional monetary policymaking to a more activist role of addressing societal problems.
-
The Minneapolis-based bank is still exploring stablecoin options outside of custody services, but sees opportunity in trade finance, CEO Gunjan Kedia said at The Clearing House Annual Conference in New York Wednesday.
-
Large banks seem comfortable paring back their capital positions while they await an updated proposal on the so-called Basel III endgame. The rules are widely expected to be more lax than what was proposed during the Biden administration.
-
The ICBA opposed Coinbase's filing for a trust charter in a public letter as Comptroller Jonathan Gould defended the fintech charter process on Tuesday.
-
After more than a quarter-century as a regulator, Jason Sisack had planned to enjoy some time off before taking a new job. He reversed course once Carver, which is operating under an enforcement action, approached him.
-
Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.
-
With the U.K. and U.S. giving a green light to the company's $22.7 billion scale-building deal to buy Worldpay, Global Payments has begun its integration strategy.
- 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.
Anchorage Digital Bank, Custodia Bank and Erebor Bank could be among the first recipients of limited, special-purpose payment accounts recently floated by Federal Reserve Gov. Christopher Waller.
The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.
The 23rd annual ranking of women leaders in the banking industry.
- Partner Insights from West Monroe
-
Partner Insights from Refinitiv - Partner Insights from Atos
- Partner Insights from West Monroe
