The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.
Subtly altered versions of popular apps are appearing more often on smartphones. These rogue apps, often available for free, can steal mobile banking passwords or redirect text messages containing passcodes.
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The peer-to-peer network moved $219 billion in the final three months of 2023, with scams and fraud accounting for about 0.1% of all volume, according to Early Warning Services, which operates Zelle and is owned by a consortium of banks.
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Some U.S. banks postponed taking action on ISO 20022, a new global financial messaging standard, while they were busy with preparations for FedNow's faster-payments launch last year. This may not leave them with enough time to meet a March 2025 deadline.
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The growing buy now/pay later industry requires regulations, but existing regulations for credit card lenders are not fit to the purpose. BNPL needs bespoke guidelines to protect consumers.
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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Younger planners have a lot to offer, but can face numerous hurdles to success, said Joseph D. Pitzl, director of financial planning at Intelligent Financial Strategies.
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When it comes to tracking the master limited partnership market, investors need to pay attention to which benchmark they pick.
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The parent of Ponce Bank has agreed to acquire Mortgage World Bankers.
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While regulation and nonbank competition are spooking some banks and credit unions, others believe low funding costs and the right relationships can help them succeed.
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Prepayments tied to repeated VA loan refinancing activity have had an adverse effect on Ginnie’s mortgage securities that persists despite countermeasures. The government bond issuer is making new plans to address the impact.
The tech giant is enabling users to pay by holding smartphones together, potentially cutting into the market for Zelle, PayPal and Venmo.
Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.
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Scams and fraud on real-time payment platforms are well documented. To solve the problem regulators, lawmakers and the public must acknowledge the inherent risks that come with a powerful new technology and develop rules to make it safer.
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The possibility of regulatory chaos if the Consumer Financial Protection Bureau's funding is declared unconstitutional should not deter the courts from following the law.
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Open data could be a game changer for small and medium-sized businesses. We need a regulatory structure that recognizes this.
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Robert Hartheimer's arrest comes at a time when the bank is trying to recover from a consent order and the Synapse mess.
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Boston-based Eastern Bankshares is focused on organic growth, but it would "evaluate the opportunity" for M&A if a deal presents itself, its CEO said Friday. The comments came four days after an activist investor criticized the bank's recent M&A transactions.
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There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.
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The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.
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Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.
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The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.
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Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.
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.
The 23rd annual ranking of women leaders in the banking industry.
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