Renat Abramov, a former relationship manager in Brooklyn, bypassed know-your-customer protocols to open accounts for shell companies involved in a $14.6 billion scheme.
The startup Intrinio lets algorithmic traders and banks pick the types of company and market data they want to use rather than pay a large monthly fee for a broad, terminal-based service.
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From AI to crypto to the fraud fight, the industry is rapidly evolving; these young companies are looking to take advantage.
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The president's rush to weaponize trade policy is going to accelerate efforts by other countries to decrease their reliance on U.S.-based payments processors. That's not in the country's interest.
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The USDC issuer has added fintechs from Brazil and the U.K. to boost distribution. Plus, Klarna pumps the gas on AI and more in the global payments and fintech roundup.
Digital fraud protection provider Kount will be offering real-time fraud screening using adaptive artificial intelligence and machine learning to help Barclaycard’s business clients prepare for Strong Customer Authentication (SCA) requirements, which are part of Europe’s PSD2 directive.
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Project 2025, a new venture from the Children's Miracle Network's Credit Unions for Kids program, has tapped 10 young credit union leaders to envision how the industry can improve its corporate giving.
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Jacqueline Howard's personal interest in helping close the wealth gap prompted her to steer Ally Financial toward a more concerted effort on this front.
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Congress has returned from its two-week vacation with plans to debate a number of issues important to the credit union industry.
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The Cincinnati bank's new division will lend to nonbanks that make or bundle together residential mortgage loans, whose businesses have slowed as higher interest rates lower appetite for refinancing. The warehouse sector has seen "fierce competition" among banks lately, one analyst wrote.
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A piece of legislation cleared the House this week that would allow for so-called "desktop appraisals" on properties financed by government-backed veteran loans.
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The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.
Both regional banks operate health savings account businesses, which could gain more customers, more fee revenue and more low-cost deposits if Congress includes a major HSA expansion in its final budget reconciliation bill.
The Senate confirmed former Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as Treasury's under secretary for domestic finance on a party-line vote, installing a key industry ally in the Treasury Department.
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The Home Loan banks have been a stable source of community bank funding for generations. An unnecessary regulatory crackdown now puts that reliability in question.
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Systemic racial inequality has long been a drag on the U.S. economy, and nowhere is that more apparent than in the housing market. There are smart strategies that would even the playing field.
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Banks are not likely to see their regulatory capital requirements decline any time soon. But the way capital levels are calculated could be made more reflective of real risks.
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Some traditional bankers are unsettled by the wave of crypto and fintech banks getting bank charters. This Nashville bank CEO sees opportunity.
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The Swiss banking giant will come under the spotlight Tuesday at a Senate hearing.where the question of whether a 1999 settlement over Holocaust-looted funds should be reopened is expected to be discussed.
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President Donald Trump's support of legislation that would cap credit card interest rates at 10% has flagged in recent weeks, but experts say that the debate has highlighted significant gaps in regulators' understanding of the credit card market and how its risks are priced.
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The digital bank added two new board members and raised $123.9 million as it continues to manage regulatory costs amid its push for profitability.
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While stablecoins aren't widely used for merchant payments, blockchain tech firms such as BVNK and Polygon Labs are seeking opportunities to add speed to slow-moving international transfers.
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In keeping with its policy of outsourcing functions outside its core commercial and retail banking competency, Signature Bank near Chicago teamed with a larger trust company to fill a longstanding gap in its product set.
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Even with the 4 basis point rise in the 30-year fixed over the past two weeks, mortgage rates are still hovering near three-year lows, Freddie Mac said.
The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.
The 23rd annual ranking of women leaders in the banking industry.
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