A bipartisan bill offered Monday by Senate Banking Committee member Katie Britt, R-Ala., and Andy Kim, D-N.J., would force the Securities and Exchange Commission to update a 25-year-old threshold that holds small financial firms to higher regulatory standards.
Many banks' legacy systems were built decades ago and are maintained by folks nearing retirement. The challenge for CIOs is finding talented young recruits who are as well-versed in old technologies as they are new ones.
-
Fraudsters are using sophisticated skimming devices to steal more card data — and they aren't afraid to encroach on bank property to do so, according to new data from Fair Isaac Corp.
-
As part of its resurrection plan, the terminal maker will pursue financial inclusion and growth markets for ATMs as it prepares for its relisting on the New York Stock Exchange.
-
In global news this week, Microsoft is working with the London Stock Exchange Group on artificial intelligence, Apple's mobile wallet debuts in Vietnam and more.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
Dynasty Financial Partners of New York has hired Michael C. Brown as a partner and director of wealth management.
-
The brokerage firm Benjamin F. Edwards & Co. of St. Louis has extended its reach to North Carolina with a branch opening and the appointment of Steven R. Perry as the branch's manager and vice president of investments.
-
The private-equity giant Carlyle Group agreed to acquire a majority stake in a Claren Road Asset Management, a $4.5 billion long-short hedge fund.
-
Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30.
-
Repayments on acquired residential mortgage loans were the main reason, but other bottom-line boosters more than made up for that, the Buffalo, N.Y., bank said in reporting second-quarter results.
-
Credit unions in the Silver and Golden states saw strong increases in growth and deposits during the first quarter of 2018.
Citizens Bank of Edmond's Jill Castilla is reappointed to Fed Advisory Council; Old National injects $1.2 billion into its existing community benefits program; former Ernst & Young CEO Mark Weinberger joins JPMorgan's board; and more in our weekly banking news roundup.
Telcoin is seeking to become the first chartered bank under Nebraska's Digital Asset Depository Institutions regime. Its CEO believes it can become a regulated bridge between crypto and banking.
-
If passed, the Affordable Housing Credit Improvement Act introduced last week could spur development of 2 million rental units for low- and moderate-income households over the next decade.
-
Modern payment processors using AI to interpret and analyze trends and point-of-spend data can detect fraud across ecommerce in real time and provide that knowledge onwards to the bank just as quickly, says Paymentology's Abe Smith.
-
The time has come for the payments industry to take a long, hard look at how we market and sell enhanced pricing programs, says Clearent's Phil Ricci.
-
The operation washed checks stolen from USPS boxes and used "money mules" recruited on Instagram, causing financial and personal distress for victims.
-
The money transfer fintech expanded its Austin office 200% to 90,000 square feet as it looks toward accelerating growth in North America. The company also separately inked a new partnership with Upwork to add Wise Platform as an infrastructure provider for freelancer payouts.
-
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.
-
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.
-
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.
-
Six class action lawsuits seek over $5 million after an insider accessed sensitive records.
- 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.
The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.
Biometrics for in-store payments are taking off; the next logical step is e-commerce. Here's how that may work.
The 23rd annual ranking of women leaders in the banking industry.
-
Partner Insights from FIS -
Partner insights from Infosys -
Partner Insights from Alloy -
Partner Insights from Alloy
