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.
Umpqua Holdings wants other banks to join its recently announced innovation lab in Silicon Valley. The company says if smaller banks pool resources they can compete with the deep pockets of the big banks in disruption.
-
The recently announced merger of Capital One and Discover would create a credit card behemoth, but would also create a credible challenger to the Visa-Mastercard duopoly. Regulators will have to choose between having both or neither.
-
Capital One Financial's proposed acquisition of Discover Financial Services would create a credit card behemoth with its own payments network. The deal is likely to draw tough regulatory scrutiny, though analysts say there are many compelling strategic reasons for the combination.
-
The median interest rate that large credit card issuers charged consumers with good credit in the first half of 2023 was 28.2%, compared with 18.15% at smaller banks and credit unions, according to a study by the Consumer Financial Protection Bureau, which is on a campaign against excessive fees.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
A decade of pushing to make disclosures by registered investment advisers more user-friendly may now be paying off, although, as with similar reforms in the past, investors will need to make time to read them.
-
What to do with a corporate pension can be one of the biggest financial decisions people make when they retire. For advisers like Mark Atherton, it is also one of the trickiest because no two situations are alike.
-
Despite the steady, upward trajectory of the stock market and declining unemployment figures in most states, middle-class Americans report they're less secure about their personal finances now than they've been more than two years, according to the results of a survey from First Command Financial Services.
-
The Boston company gained the mortgage platform when it bought First Choice in 2017.
-
New FHFA Director Mark Calabria isn't just charting a future for Fannie Mae and Freddie Mac, but also fixing problems resulting from the "qualified mortgage" exemption for the GSEs and taking a "deep dive" into problems in the mortgage servicing market.
-
The two banks’ CEOs used a public hearing to argue their merger will be a boon for underserved markets. But other speakers warned that bank consolidation hurts communities.
The top five community banks have more than $1.2 billion in combined farm loan portfolios as of March 31, 2024.
The chairman of the House Financial Services Subcommittee on Financial Institutions will reintroduce a bill at noon today designed to speed up the bank merger review process.
-
Leaders who set clear expectations do not create hostile settings. If anything, good people are motivated knowing what they do is noticed and matters.
-
The Biden administration's decision to fill the Republican seats on the Federal Deposit Insurance Corp. board only makes sense if it was a mistake.
-
Investor activity in the housing market has had a nominal impact on the cost of housing, the head of the National Rental Home Council writes, citing research by one of the government-sponsored enterprises. Supply-demand imbalance is the primary driver of price appreciation, he argues.
-
U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.
-
Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.
-
In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.
-
Farmers National Banc Corp. in Ohio plans to acquire in-state rival Middlefield Banc Corp. in a deal that will deepen the buyer's footprint in Columbus.
-
An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.
-
U.K. regulators approved the acquisition, which is part of Global Payments' plan to scale its point of sale restructuring.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
Federal Reserve Governor Michael Barr said strong oversight mechanisms and consumer protections are needed for stablecoins to make them a more viable payment instrument.
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.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from Donnelley Financial
- Sponsor Content from Baker Hill
- Sponsor content from AI Foundry AI Foundry
- Sponsor content from Pittsford Federal Credit Union Pittsford Federal Credit Union