The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.
Bank regulators are likely to take further action to force banks to upgrade their cybersecurity processes as hackers continue to find ways to penetrate institutions defenses, Benjamin Lawsky, the top former New York bank supervisor, said Tuesday.
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Only 111 credit unions currently use The Clearing House's real-time payments platform, out of nearly 5,000 nationwide, but having the world's largest credit union in the system could lead more to join.
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Tidal, the music streaming service once owned by recording artist Jay-Z, laid off more than 10% of staff as part of a wider round of austerity moves announced last month by its parent company, tech billionaire Jack Dorsey's Block.
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Canada's government has finalized arrangements with Visa and Mastercard to cap credit card interchange for small businesses; Klarna is expanding its work with the Dutch payment processor Adyen; and more.
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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SEI Advisor Network added 406 new registered investment advisers last year as it increased assets under management to $31.1 billion.
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HSBC will halt its push for new clients of HSBC Premier, its flagship banking service aimed at wealthy international clients, as it tackles company-wide cost overruns.
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Popular TV shows about house fixers and flippers have sparked consumer interest in remodeling, creating an opportunity for lenders to build a specialty in renovation loans while traditional mortgage lending is weak.
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The Consumer Financial Protection Bureau has published a new "frequently asked questions" tool to help mortgage lenders with TILA-RESPA integrated disclosures compliance.
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Just as the Trump administration appears focused on releasing a framework without Congress, the Senate Banking Committee has re-entered the policy fray with a new proposal.
Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
Employers added fewer workers than anticipated last month, but upward revisions to previous estimates drove down the jobless rate. The report gives no clear directive to the Federal Reserve, which put rate cuts on hold last month.
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The executive order on cryptocurrencies leaves many important questions unaddressed.
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Mutual institutions, long pillars of underserved communities, now face insurmountable barriers to entry.
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"The Fed has increasingly appeared disinterested in doing its important, clearly defined job and more interested in doing mine," writes Sen. Cynthia Lummis, R-Wyo., a member of the Senate Banking Committee.
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As Coinbase joins a wave of crypto companies seeking national trust charters from the Office of the Comptroller of the Currency, traditional banks are warning regulators not to rush approvals for crypto firms eager to enter the federal banking system.
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A new survey finds that fraud losses have jumped significantly in the last year, with digital channels and check fraud posing the biggest threats.
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Comerica Bank in Dallas has been around since before the Civil War. But the banking crisis of 2023 tamped down on its access to low-cost funding, and the problem persisted until it finally decided to sell itself.
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Federal Reserve Gov. Michael Barr said in a speech Thursday that he fears the gradual pace of price increases from tariffs being passed on to consumers may prolong the one-time inflationary effect of the tariffs to the point where it affects consumers' inflation expectations.
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An appeals court upheld a nine-figure default judgment against Nexus Services, Libre by Nexus and three individuals who scammed immigrants held in custody by ICE.
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TD Securities began making OpenAI's ChatGPT available to traders in June and it's become a "massive time save," according to Chief Information Officer Dan Bosman.
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The London-based firm is seeking a license that would provide a direct connection between merchants and card networks, reducing reliance on third parties and brandishing the London company's image as a player in America.
Many banks lowered the interest rates they pay on certificates of deposits and high-yield savings accounts in September, capitalizing on the Fed's 25-basis-point cut.
The 23rd annual ranking of women leaders in the banking industry.
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