Banks, trade groups and regulators are eligible to join a group convened by Treasury's Financial Crimes Enforcement Network, or Fincen, which will weigh in on anti-money-laundering rules, Bank Secrecy Act modernization and implementation of a recently passed stablecoin bill.
The World Economic Forum said the effort is designed to strengthen fintech cybersecurity.
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Fintechs are rolling out business financing tools that are packaged as buy now/pay later and earned wage access in the hopes of capturing momentum from the budding consumer finance industries.
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The payment company is incenting users to adopt Perplexity's Comet Browser, automating subscription management and shopping as card networks and other payment companies ramp up use of generative artificial intelligence.
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Noelle Acheson points out that central bank digital currencies are neither the threat nor the solution many seem to think. What matters is how the technology is applied.
Executives at Citizens Financial Group and community banks such as Seattle Bank and Citizens Bank of Edmond say there are potential use cases for large language models. Yet they have concerns that impersonal service and likely errors could erode customers' faith in their financial institutions.
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From student-run branches to courses on credit, budgeting and more, one of the industry's longest-running partnerships is being upended as districts across the country move to virtual learning.
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The company's foundation, whose mission had been carefully planned by BB&T and SunTrust before their merger, opened just nine days before the novel coronavirus was declared a pandemic. Here’s what happened next.
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Finding loan forgiveness programs and keep-the-change loan paydowns are examples of services startups like Savi, Summer and FutureFuel.io are offering banks to help borrowers manage their monthly payments.
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The lender was accused in a recent lawsuit of failing to meet its obligations to underserved borrowers in lieu of wealthy clients.
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The Alabama-based regional bank didn't effectively track whether some loans complied with flood insurance regulations, according to the Fed. Regions said that it had fixed the issue by 2017.
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A 2018 report laid the groundwork for the Biden administration's push to root out discrimination in home valuation. A counter study says no such practices exist.
As the holiday shopping season approaches, retailers are grappling with how to optimize their inventory and set prices amid higher tariffs. A new Wells Fargo report sheds light on how businesses are adapting.
Democratic lawmakers, led by Senate Banking Committee ranking member Elizabeth Warren, D-Mass., press 21 institutions for fee data after a federal agency halted disclosure requirements.
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A blend of equity, private debt and public investment drove the country's growth in the Industrial Revolution. To remain globally competitive, the U.S. needs more creative financing of large infrastructure projects.
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The question is no longer whether the financial services industry needs a unified approach to combating instant payment fraud but who will take the lead to make it happen. The onus is on the biggest players in the market to show the way forward.
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Bipartisan legislation before Congress would create sensible regulation for stablecoins, opening a path to cementing the U.S. dollar's status as the world's most important currency.
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Banc of California appoints Chris Healy its new executive director and head of payments; Lia Fordjour is named chief financial officer of the American Bankers Association; Airwallex is the latest fintech to lean on sports sponsorships; and more in this week's banking news roundup.
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Shares of the neobank plummeted nearly 30% Thursday despite posting revenue over $1 billion as investors balked at up-front loan provision expenses that come with the expansion of Klarna's longer-term installment loans.
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The relevant Florida statute does not permit President Donald Trump's allegation that JPMorganChase CEO Jamie Dimon directed the bank to put Trump and his businesses on a "blacklist," the bank said in a legal filing.
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The Supreme Court Friday issued a 6-3 ruling that held that a law granting the White House economic emergency powers does not include the power to tax imports.
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In a blow to the President's economic agenda, the high court said the trade barriers could not stand.
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The Buffalo-based bank didn't specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will "vigorously defend itself" against claims by investors who allege that it should have protected them from alleged fraud.
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The Olympics are boosting spending in Italy, large-in-part thanks to Americans. In the U.K., Barclays is reportedly leading a meeting to seek support for an existing project. The meeting comes against the backdrop of geopolitical concerns and the dominance of American-based payment firms.
Federal Reserve Vice Chair for Supervision Michelle Bowman said in comments Wednesday that the central bank plans to publish its Basel III endgame capital proposal for public comment before the end of March.
The 23rd annual ranking of women leaders in the banking industry.
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