A cohort of more than 100 Republican members of Congress sent a letter to Treasury Secretary Scott Bessent urging the administration to protect and fund a community lending program that has been gutted despite its legal mandate and Bessent's backing.
The New York State Department of Financial Services has modified its cybersecurity rule after bankers registered complaints at a hearing in Albany last week.
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The payment protocol, years in the making, includes more information for transactions, aiding real-time processing, international commerce, risk management and overall accuracy. But it also requires a lot of work.
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The Federal Reserve's apparent unwillingness to disclose volumetric details about banks' use of its proprietary faster payments network suggests the central bank is hiding something. That something could be the slow death of faster payments as the new normal.
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The new real-time payments system is being optimized for speed, not necessarily security, requiring the banks participating in the program to exercise a heightened level of vigilance.
Hearings of interest to credit unions have been postponed as the government prepares to close for a day of mourning following the death of President George H.W. Bush.
Banking South Korean companies has become a major pillar of the Los Angeles-based Hanmi's balance sheet, with a portfolio of loans approaching $1 billion.
Executives at the San Antonio bank say their business customers should be able to pass along higher costs from tariffs to consumers. Still, the bank acknowledged the risk of a recession.
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Michael Lewis takes a more sympathetic approach than many other observers to the former CEO of the crypto exchange FTX in his latest book, "Going Infinite."
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Federal reports have sharply limited the kind of plaintiffs who can prove they have standing to sue financial institutions under the Fair Credit Reporting Act.
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Many Democrats' bank-regulatory philosophy is driven in significant part by the premise that banks are too profitable and should retain more of their profits to offset their systemic risks. But there is a danger in pushing that assumption too far.
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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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Earlier in the day, Fed Gov. Stephen Miran chastised the Fed for wading into politics under the Biden administration, as he currently takes unpaid leave from President Donald Trump's top advisory council.
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CEO Chris Gorman applauded what he sees as a transformation of bank regulation since President Trump took office. He described a shift from layers of exams and documentation to a streamlined focus on liquidity, capital and earnings.
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Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.
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The New York bank already offers tokenized deposits, which allows global clients to move money around the world instantly, and it's building a crypto custody platform.
The 23rd annual ranking of women leaders in the banking industry.
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