The Treasury Department's Financial Crimes Enforcement Network is seeking public comment on a survey of anti-money-laundering compliance costs from a variety of nonbanks, including casinos, insurers, lenders and other nonbanks, a possible precursor to deregulatory proposals down the road.
The bank's adoption of scheduling technology underscores the fact that, while branch traffic is declining, most sales of loan, deposit or investment products are still made at the branch. It's also further evidence that banks are using technology to engage with customers who are visiting branches less and less.
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Discover Financial Services' announcement of the immediate resignation of longtime executive Roger Hochschild comes weeks after the company announced it overcharged merchants for 16 years.
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The fintech is relying on Alex Chriss' experience in melding technology with marketing to ignite growth with small-business and consumer users.
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The shift to faster payments–plus frustration over network interchange costs–is increasing merchants' use of services that pull money directly from consumers' bank accounts.
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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Citi Fund Services Ohio plans to add 300 positions to its Columbus, Ohio, operations over the next three years. The center currently employs 715 people.
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Long-term mutual fund inflows for the week that ended Dec. 1 totaled $1.04 billion, the Investment Company Institute said. This reverses outflows in the previous two weeks.
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Individuals aren't as interested in Roth conversions as many advisers expected. According to a Mercer survey, more than half of employers said that their employees hadn't asked for the option, and 45% said they had no plans to offer it.
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The company is once again positioning itself for growth now that it is no longer considered a systemically important financial institution.
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Michael Bright co-wrote a paper in 2016 that envisioned making the agency a backstop for the housing finance system, but appeared to distance himself from the proposal at his confirmation hearing.
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The March acquisitions of a warehouse lending portfolio and eight California bank branches helped fuel a 22% increase in net income.
Plaintiffs' lawyers are targeting various companies in connection with a California law that ensures customers can air grievances publicly without the threat of retribution. BofA and U.S. Bank say the suits against them are meritless.
Unity Bank in Clinton, NJ, now offers EV charging stations in a collaboration with Encore Energy Group; fintech Beneficient announced its agreement to acquire Puerto Rico-based Mercantile Bank; Trump named payments exec Jared Isaacman to run NASA; and more in this week's banking news roundup.
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Issuers should use the next year to build their own card program, tailored for their market's specific needs, says Zeta's Bhavin Turakhia.
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Long after the pandemic is finally behind us, the many security and financial benefits owners, management companies and fans alike receive from having the technology in place will remain too invaluable to ignore, says Corsight's Rob Watts.
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Mainstream attention to crypto and active projects mean it's time to have a strategy for CBDCs, says R3's Todd McDonald.
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Federal Reserve Chair Jerome Powell said in a speech Tuesday that the central bank's policy stance is "modestly restrictive," a stance that will give the central bank flexibility to react to an uncertain economic future.
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The credit score provider has developed "focused" language artificial intelligence models purpose-built for tasks like detecting payment fraud, assessing risk and recommending next best actions.
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Students are collaborating with credit specialists at the lending platform to build agentic AI models for small business lending and for helping small business owners manage their finances.
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Six class action lawsuits seek over $5 million after an insider accessed sensitive records.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that steeper interest rate cuts should be on the table if the labor market continues to show signs of decline.
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A Small Business Administration policy enacted during the second Trump administration blocks not only people who are in the country illegally, but also legal temporary residents and even some U.S. citizens, from accessing government-guaranteed loans.
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The Office of the Comptroller of the Currency's recent bulletin warning banks that past debanking actions could affect supervisory reviews is the latest effort to put the president's executive order on debanking into action. But industry sources say the order itself forces banks to choose between pleasing their regulators and taking on unwanted risk.
At a banking conference this week, there was growing optimism that a key regulatory threshold will be raised from $100 billion to $250 billion.
The 23rd annual ranking of women leaders in the banking industry.
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