The bank asks a federal court to toss claims from five certified classes, arguing victims have been paid and that fraudsters are included in the suit.
Bankers are increasingly concerned that an optional cybersecurity assessment tool released by regulators this summer could soon become mandatory.
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The digital financial services firm announced layoffs Tuesday, with the goal of keeping the company steady until conditions improve for its business users.
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Fintechs' venture capital funding began to evaporate last year, while payments startups fared somewhat better by emphasizing quicker pathways to profits. It's a trend experts say is likely to persist this year as investors remain more cautious about costly or long-term plays.
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Longtime executive Raymond Joabar discusses how the card network mixes direct outreach and fintech partnerships to build a global network covering the U.K., the Caribbean and other regions.
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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Brokers and financial advisers looking to make more money and have more control over the type of clients they serve and the investments they recommend continued to flood the independent channel at a swift pace in 2010, according to a broker and adviser sentiment index survey conducted on behalf of Fidelity Investments.
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Taylor, Bean & Whitaker Mortgage Corp.'s former chairman, Lee Farkas, ordered data sent to Colonial Bank for nonexistent loans in an effort to cover up growing deficits, an ex-president said.
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University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.
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The bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well.
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Readers debate the odds of legislative reform to Fannie Mae and Freddie Mac, consider the growing problem of "friendly fraud," weigh ways to avoid reputation problems and more.
The financial services industry has largely recovered from the negative shocks of the 2008 financial crisis. Still, the results from the most recent release of the Edelman Trust Barometer found that banks need to address a significant level of skepticism among consumers.
Brian Moynihan argued Tuesday that the president's allegations of politically motivated debanking stem from the problem of overregulation.
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In her new book, “Direct: The Rise of the Middleman Economy and the Power of Going to the Source,” Columbia Law professor Kathryn Judge examines how middlemen offer — and often limit — consumer choice.
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The text of the Overdraft Protection Act hasn’t changed in 10 years, but the banking industry has shifted dramatically.
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Banks are making a mistake in their opposition to the SEC’s proposal to mandate disclosure of carbon emissions and other climate data.
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Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
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Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.
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The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
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SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.
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The Cincinnati, Ohio-based bank delivered third-quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.
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The Charlotte, North Carolina-based bank reported net income of $1.45 billion for the third quarter and earnings per share of $1.04, which beat analysts' forecast of $0.99 per share.
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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.
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.
The 23rd annual ranking of women leaders in the banking industry.
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