Brex is powering Fifth Third's commercial card issuance in a move that boosts the fintech's distribution network and provides the bank with a more competitive commercial card proposition.
WASHINGTON The Treasury Departments Financial Crimes Enforcement Network issued a reminder to banks that their obligations to report suspicious transactions also extend to certain cybersecurity attacks.
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Instant payment adoption in the U.S. is growing but still trails countries such as Brazil and India. Generative artificial intelligence could be the key to help financial institutions accelerate payment velocity.
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As the company bolsters artificial intelligence-powered point of sale and battles other fintechs and the card networks, getting a boost with distribution has become a major priority.
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Top banking trades have thrown their support behind the central bank's argument that it has discretion over access to its payments systems. Custodia is seeking to appeal a lower court ruling that affirmed that discretion.
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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Funding of startups will cool overall, but venture capitalists anticipate growth in new areas of financial services that are ripe for innovation, including wealth management, insurance and back-office operations.
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B of A's Merrill Lynch unit by early next year plans to join Charles Schwab, Fidelity Investments, BBVA Compass, U.S. Bancorp and others in offering clients a low-cost investing app and online service.
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State Street on Wednesday appointed a new chief financial officer.
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Lenders that scrambled to grant forbearance as the coronavirus pandemic took hold are unsure about the extent of potential losses.
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An April survey from Clever Real Estate also found that potential home buyers and sellers have put their plans on hold.
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Some benefits are materializing from Fannie Mae's pledge to limit servicers' exposure to principal-and-interest advances the way Freddie Mac does, but counterparties of both GSEs remain exposed to other concerns.
The Dallas-based bank has a growing list of legal and regulatory issues — some of them connected to its role in a U.S. government benefits program, and others not.
The House Financial Services Committee passed bills to expedite bank merger review, limit the use of reputational risk in bank examinations and imposing timelines for supervisory determinations.
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FedNow and RTP are only going to get better and more efficient as they become interoperable and develop new use cases. It's time to get on board.
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Making the Consumer Financial Protection Bureau's funding subject to congressional appropriations would bring some much-needed accountability to a runaway regulator.
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Increasing federal deposit insurance limits is not the answer to the banking system's woes. It would cause riskier behavior and more red tape. And it wouldn't prevent bank runs.
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Through a nonprofit called Greater NY, early career analysts at banks can apply their financial skills at charities and other civic-minded organizations. The partnerships give free help to nonprofits, but provide surprising benefits to the banks as well.
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While overall payments declined, the financial sector remained the top payer to cybercriminals, surpassing both health care and manufacturing.
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Danny Seibel, who led First National Bank of Lindsay from 2007 until shortly before the bank's failure last year, is accused of falsifying bank documents to conceal the condition of loans.
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At a UCLA economic panel, experts from Zions, JPMorgan, Berkeley Research Group and Wave Digital Assets discussed the challenges in data management and compliance risk that goes with adopting digital assets.
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JPMorgan's Ben Carpenter will join Evercore as a senior managing director; Wells Fargo appoints Jackie Krese to head syndications within its fund finance group; the SEC is probing Jefferies over its relationship to bankrupt auto parts supplier First Brands Group; and more in this week's banking news roundup.
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The agency is weighing costly infrastructure needs, fraud risks and long-term decline in check use as it solicits public input on the possibility of winding down checks following an executive order phasing out paper in federal payments.
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The two regional banks, which are combining in a merger of equals, had previously said they expected to complete the deal sometime in the first quarter of 2026.
The bank is a step closer to having its own U.S. dollar-pegged cryptocurrency. It could become the first major financial institution to issue a stablecoin.
The 23rd annual ranking of women leaders in the banking industry.
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