Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
BMO Financial Group is looking to bring a recent consumer-facing innovation to its corporate customers.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
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Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
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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Bank of America Corp.'s Merrill Lynch unit must face a group lawsuit by union and public employee retirement funds over mortgage-backed securities, a federal judge ruled.
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California has picked TIAA-CREF to manage its college savings plan that has about $4 billion of assets.
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Many in the industry say releasing GSE-backed loans from stringent underwriting rules has helped the housing market recover, but a new level of regulatory burden could reverse those gains.
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JPMorgan Chase ends business loan partnership with OnDeck; Truist out to prove it can best the megabanks in tech; Capital One's data breach was bad, but it could've been worse; and more from this week's most-read stories.
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The regulators have yet to complete rules on regional bank supervision, community bank capital and other provisions meant to ease institutions' burden.
The planned Bay State deal comes two months after the Minneapolis-based Thrivent said it plans to merge a credit union it controls into a new industrial bank.
The challenge comes on the heels of decisions from judges in Maryland and California ruling in favor of laid off probationary employees.
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The high court's inevitable decision on the constitutionality of the Consumer Financial Protection Bureau's funding structure will tell us a lot about how radical the court is willing to be.
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Even the newest technological innovation cannot beat personal interactions when it comes to forging a deep and meaningful association with clients, which typically lasts for years.
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In "Limitless," the journalist Jeanna Smialek explores how the Federal Reserve has gone beyond its more traditional monetary policymaking to a more activist role of addressing societal problems.
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Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.
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With the U.K. and U.S. giving a green light to the company's $22.7 billion scale-building deal to buy Worldpay, Global Payments has begun its integration strategy.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said she wants banks to be competitive in the digital assets space, provided those operations are siloed from the traditional finance side of the business.
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Susan Riel, who helped found Eagle Bancorp nearly three decades ago, will step down as CEO in 2026. The bank is embarking on a search for her successor.
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Findings from American Banker's On-Chain Finance Report show how market leaders view digital assets as a permanent fixture in the banking industry.
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A survey of bank executives conducted by fintech firm IntraFi found that an overwhelming majority of respondents think Federal Reserve Governors should only be removed by the president in cases of proven misconduct.
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The payment company launched new tools for merchants and entered artificial intelligence collaborations with OpenAI and Mastercard ahead of the company's second quarter earnings, which beat analyst expectations.
A proposal from the Office of the Comptroller of the Currency would roll back Biden-era recovery planning rules for banks, leaving them with broad discretion to determine their own recovery protocols.
The 23rd annual ranking of women leaders in the banking industry.
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