The Bureau of Labor Statistics issued its delayed January employment report Wednesday morning, showing the economy added 130,000 jobs in January. But the agency also sharply revised its estimates for total jobs created in 2025 to 181,000 from 584,000.
Some firms are investing in technology to help insurance clients shift to paperless payment processing.
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Intuit and Ramp, two firms that work with fintechs that compete with banks, are using agentic artificial intelligence to automate mundane tasks.
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Noelle Acheson asks whether stablecoins can be considered "money" according to traditional definitions. And if not, what does that mean for payments?
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The U.K. fintech has launched a series of products that expand on its core payments business and compete with banks and other payment technology firms.
Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.
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The CEO of the digital-only bank Chime says it has quadrupled its membership in a year. So why doesn't his counterpart at Varo believe him?
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Highland Associates has $26 billion in assets under management on behalf of not-for-profit medical endowments and foundations. Regions Financial is following the lead of other regionals, which have been scooping up investment firms that specialize in health care.
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For First Republic Bank in San Francisco, “the pain index is likely somewhere between excruciating and traumatic,” says one expert. But few realize how much the bank got for its money.
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The 30-year fixed rate surged 15 basis points from a week earlier but ends 2022 at more than twice its mark from a year ago.
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The sharpest run-up in rates seen in over three decades slashed mortgage origination volumes, and contributed to a volatile market environment, but had some cyclical benefits for servicing.
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The Federal Housing Finance Agency said it would heed the recommendation from a report by its Office of the Inspector General released this week.
The show business-themed restaurant, which benefited from a federal loan near the start of the pandemic, says it now owes millions thanks to the Miami-based bank's "fraud, negligence, and misrepresentations." A BankUnited spokesperson declined to comment.
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., is urging the Federal Deposit Insurance Corp. not to approve new Industrial Loan Company charters until Congress passes a law subjecting ILCs to bank holding company rules.
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The U.S. is well behind other countries in implementing open banking and delivering its benefits to customers. Brazil's success in that area can serve as a useful model.
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"Too big to fail" banking giants like to masquerade as community banks when it suits their purposes, but they will never be able to replace real, local bankers with deep ties to their customers.
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In a string of speeches last week, the top federal banking regulators outlined goals and framed their thinking about artificial intelligence in financial services, but the biggest questions around liability and widespread adoption remain unanswered.
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Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.
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Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
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Fintech and crypto groups said in comment letters to the Federal Reserve that the proposed "skinny" master account is too limited and could keep firms dependent on banks. Banking groups asked for more time to comment.
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The Housing for the 21st Century Act includes provisions covering policy, manufactured homes and rural infrastructure introduced in a prior Senate proposal.
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Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
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While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.
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The latest directive, which takes effect in March, allows only U.S. citizens and nationals to seek government-guaranteed financing. It's drawing criticism from Democrats in Congress, small-business advocates and some lenders.
Prosecutors allege Curtis Weston and a bank insider used fraudulent loans to fund stock market trades, leaving the bank with $20 million in losses.
The 23rd annual ranking of women leaders in the banking industry.
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