A report from the Cato Institute, a libertarian think tank, released Thursday found that most sudden account closures were spurred by supervisory pressure rather than political or religious bias on the part of the banks, a finding that is at odds with the White House's framing of the issue.
Leaked documents appear to show NSA analysts were able to hack into Middle Eastern banks’ servers through the Swift service bureau EastNets. The same tools could conceivably be used by cybercriminals and nation-states with more sinister motives.
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More consumers and small-business clients are clamoring for earned wage access, as states step up regulation and a CFPB interpretive rule hangs in the balance.
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The collaboration will enable the payment company's Fastlane system to reach merchants in the U.K. and Europe, addressing a need to scale the product quickly.
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The state legislature has passed a bill that would remove exceptions to a 12% interest rate cap that would make many alternative forms of lending infeasible. It sits on the governor's desk, awaiting signature.
Shari Van Cleave, head of Wells Fargo Digital Labs, says the bank is experimenting with artificial intelligence and augmented reality to create new ways to present data to customers.
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From giveaways to budgeting tips and more, here's how credit unions are helping members have a romantic Valentine's Day, no matter how big or small their price point.
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The bank joins a small group of companies that believe short-term forecasts will ultimately help customers build healthier financial lives.
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It’s not just hourly workers who struggle to make ends meet — many managers also often find themselves short on cash each month. To help employees cope, the retail chain is using a tool developed by the fintech Even to give them access to their wages before the next pay period.
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While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.
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Home loans accounted for the bulk of the industry’s lending gains in 2020, but inventory shortages in some markets and an uneven economic recovery may dim prospects this year.
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While loan performance is improving in aggregate, some borrowers remained unaware of the relief available or were unable to access it, according to the Research Institute for Housing America.
The regional bank, which hired a commercial banking team away from Citizens Financial Group, has identified growth opportunities not only in the Garden State, but also in Pennsylvania and Texas.
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency proposed a rule that would revert the anti-discrimination framework to its 1995 standards.
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Financial industry workers don't need to be concerned about losing their jobs to AI — they need to be concerned over which of the many opportunities they will want to seek out when the time comes.
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Federal Deposit Insurance Corp. Chair Martin Gruenberg said last week that regulators have the tools they need to allow big banks to fail in an orderly fashion. But resetting public and market expectations is not so easy.
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The Basel III proposals are a major step in completing the implementation of global agreements to ensure large banking organizations are appropriately capitalized to better withstand all manner of economic disruption.
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World Liberty Financial, a crypto venture co-founded by President Trump, applied for a national trust charter with the Office of the Comptroller of the Currency. The move comes as several prominent crypto companies have applied for and received conditional approval for trust charters since the beginning of the Trump administration.
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The deal ends more than a year of speculation of who would take over Apple's coveted credit card portfolio.
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House Financial Services Committee Chairman French Hill's community-banking package includes reciprocal deposits, tailoring and many other items on community bankers' wish lists.
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Federal Reserve Vice Chair for Supervision Michelle Bowman outlined several priorities affecting community banks, including potential changes to asset thresholds for smaller institutions.
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The U.K. bank has completed a payment using the stablecoin alternative; while Revolut is trying to acquire Turkish neobank FUBS. Plus: execs tied to the Wirecard scandal are on their way to prison and more in the American Banker global payments and fintech roundup.
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The bank is investing in Ubyx to help traditional financial institutions settle stablecoin payments and compete with nonbank fintechs.
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Articles about the AI deployments of big banks and of scammers generated clicks from American Banker readers.
Community banks are always looking for ways to expand local engagement. But for some banks, sponsoring disc golf courses, clubs and events offers a relatively inexpensive way to boost their profile among a very loyal customer base.
The 23rd annual ranking of women leaders in the banking industry.
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