A task force convened by the Federal Reserve has made substantial progress in its first few months, but the path to real-time payment in the U.S. is still littered with challenges.
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Scrambling to generate revenue, the social media app sees P2P payments as the easiest way to offer its vast base of enrolled consumers other financial services.
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The Federal Reserve would seem to offer a compelling alternative to the bank-backed RTP network, but some credit unions — which typically see bank systems as competitive threats — are making more nuanced choices.
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In the news this week: A consumer group filed a complaint against Starbucks over its mobile app and reloadable gift cards, Apple Pay added a new payment tech firm, The Clearing House hired Amanda Stewart as its new marketing chief, 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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Pacific Investment Management Co. has nabbed two bank loan portfolio managers from Lord Abbett & Co. Elizabeth MacLean and Jason Duko will join PIMCO in early April.
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A Federal Reserve decision that will let many banks pay dividends again is another sign that the equity markets have returned to health, and it likely will stoke investor demand for financials, according to Mary Ann Deignan, head of equity capital markets in the Americas for UBS.
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Mark Calabria, who could be confirmed as early as this month, is expected to focus on changes to Fannie Mae and Freddie Mac’s conservatorships to let the mortgage giants keep more of their profits.
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The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.
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The Atlanta company, which reported fourth-quarter results Tuesday, said that the lending partnership with American Express will launch in Atlanta, Chicago, Dallas, Los Angeles and Dallas within the next 60 days.
The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.
President Donald Trump's new executive order could have dramatic implications for bank regulation by subjecting agencies to White House political control.
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Community development financial institutions proved themselves indispensable during the COVID-19 pandemic. They have earned a seat at the table.
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Constraining consolidation will only hurt the goal of expanding consumers' access to banking services and credit.
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The agency’s proposed data collection and reporting requirements would disproportionately burden community banks, which lead the nation in small-business lending.
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The bank technology company has released Smart Basket, which uses emerging artificial intelligence to improve transaction routing, a strategy that's quickly becoming table stakes for fintechs and financial institutions that offer payments.
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The Canadian bank plans to sell the branches, which are mostly in the Midwest and Great Plains, to First Citizens Bank in North Carolina. At the same time, it plans to build 150 branches over the next five years in markets with longer-term growth prospects.
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During cybersecurity awareness month (October), financial institutions have ramped up education on phishing, fraud and cyber hygiene. Here's what they're saying.
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PNC CEO Bill Demchak said Wednesday that regulatory processes and enforcement actions take up half of the time that the company's board spends together. Those rules are on deck for a makeover.
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Amid a surge in bank mergers, Citizens CEO Bruce Van Saun said the Providence, Rhode Island-based bank is largely focused on organic growth. "It would have to be a pretty high bar for us to go down that path," he said.
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New research from American Banker finds that financial institutions are asking about ROI, infrastructure costs and compliance burdens.
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A new report links a surge in consumer complaints to two financial influencers selling dubious advice and products to millions of followers online.
Don McCree, who has led commercial banking at Citizens since 2015, plans to retire next year. His successor, Ted Swimmer, who was in charge of capital markets, took over on Tuesday.
The 23rd annual ranking of women leaders in the banking industry.
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