Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.
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Payroll and workforce management providers are embedding instant wage access and virtual wallets
June 3
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A super-panel of experts and industry players explores the coming wave of opportunities for banks and other traditional financial institutions
June 3
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The payments fintech is partnering with credit unions such as Michigan State Federal Credit Union to offer cash-back rewards on debit transactions using account-to-account payment schemes.
June 3
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The Department of Justice is seeking to terminate a Biden-era lending discrimination settlement with Lakeland Bank. Last month, the DOJ took similar action in a case involving Mississippi-based Trustmark National Bank.
June 2
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The investment follows the success of KeyVAM, a virtual account management platform developed with the fintech for treasury clients and launched last year.
June 2
Big banks with the strongest financial performance varied in asset size, geographies and services.
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.
The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.
Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.
Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.
U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.
The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.
Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
The CEO of First Northwest Bancorp is promising to fight a lawsuit claiming the lender helped a client perpetrate a Ponzi scheme that bilked a hedge fund out of more than $100 million.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
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The banks have invested in gen AI and embedded finance, respectively.
August 12 -
John Buran shares how his New York bank and its small business customers are faring with tariff uncertainty — and how some have quickly changed suppliers and modified business plans — in the latest American Banker podcast.
July 15
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The stablecoin issuer and some of its backers are now offering 32 million shares at a price range of $27 to $28 each, suggesting strong investor demand for the stock.
June 2
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The 15 largest banks had an average NCO ratio of 0.66% in the first quarter.
June 2
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The Consumer Financial Protection Bureau and Bank Policy Institute filed twin motions for summary judgement to strike down a 2024 agency rule for being arbitrary and capricious and exceeding statutory authority.
June 2
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The question of when the CEO would retire and who might succeed him has hung over JPMorganChase for years.
June 2
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Using watches, wristbands and other accessories at the point of sale is set for a boom, pressuring financial institutions to develop a strategy for the banking tech.
June 2
