The Minneapolis-based company will return to its former governance structure when it installs CEO Gunjan Kedia as board chair. Andy Cecere had served as chair during his tenure as the company's chief executive, and then became executive chair when he stepped down as CEO last year.
Readers react to USAA teaming up with Amazon’s Alexa, how a new Wells Fargo’s scandal could affect arbitration rules, a digital identity startup’s ambitions, and more.
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The bureau's Tuesday afternoon announcement follows an earlier statement that it would walk back a rule that places buy now/pay later loans under the Truth in Lending Act's Regulation Z, a move that will ease compliance for fintechs that offer installment loans.
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The pending acquisition is one of several large deals involving payment companies in recent years as legacy firms look for combinations that can counter newer fintech rivals.
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The three largest deals raised an average of more than $136 million.
Many U.S. banks, especially in Florida, are struggling to comply with U.S. sanctions against the Maduro regime. Some argue artificial intelligence can make it easier to distinguish between legitimate payments and illicit transactions.
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Wells Fargo, Bank of America, Citigroup and other banks have joined forces with fintechs and data aggregators to create the Financial Data Exchange, which aims to resolve the fight over sharing customer information.
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The custody bank’s linked-quarter net income dipped due to a decline in earning assets and lower transaction volumes.
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Parents with small children often don’t know about college savings accounts, according to U-Nest founder Ksenia Yudin.
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Average per-loan charges last year were little changed despite the addition of a new temporary fee for refinancing. Those for loan-to-value ratios above 80%, home-purchase financing and adjustable-rate mortgages only rose slightly.
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The Servicemembers Civil Relief Act includes extra protections aimed at preventing foreclosure for homeowners in the military.
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Rohit Chopra, director of the Consumer Financial Protection Bureau, pledged to make it easier for state attorneys general to draw on the Consumer Financial Protection Act in filing lawsuits against corporate wrongdoers.
First Savings Financial Group could have bailed out of SBA lending after the departures of key executives and loan officers. Instead it retooled the unit, and it's now reaping the benefits.
The Office of the Comptroller of the Currency said in a bulletin to banks that it will consider whether firms engaged in "politicized or unlawful debanking" when considering bank's licensing applications and Community Reinvestment Act reviews.
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Keeping control of the Senate in 2024 was always a tall order for Democrats. Republicans thus far are on track to eke out a narrow majority — an outcome that would limit a prospective Harris administration's maneuverability in nominations and legislation.
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Pandemic era changes to credit reporting have dangerously distorted credit scores for mortgage borrowers. The market is in worse shape than we realize, writes a former Federal Housing Finance Agency director.
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Congress publicly excoriated the supervisors and CEOs of last year's trifecta of megabank failures. But, what about the directors who were supposedly overseeing those CEOs? The entire chain of bank oversight needs to be rethought from congressional hearing rooms to banking board rooms.
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The Federal Deposit Insurance Corp.'s approval of industrial loan company charter applications for General Motors and Ford Motor Company generated only moderate pushback from banks as crypto, debanking and credit card rate caps dominate the industry's attention.
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Many servicing metrics look weaker amid lower rates although valuations can vary depending on companies' models, operations and portfolio composition.
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The Brazilian digital bank Banco Inter now has a license from the Federal Reserve Board and the state of Florida to establish a virtual "branch" in Miami.
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Shares of the California lender surged 25% on news of the leadership change and preliminary fourth-quarter earnings.
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The McLean, Virginia-based bank plans to close the deal in mid-2026, about a year after it sealed its landmark purchase of Discover Financial Services.
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With one Texas acquisition integrated and another deal set to close next month, Huntington Bancshares is projecting double-digit growth in loans and revenue this year.
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The payment company is betting on agentic commerce to get its checkout tech in front of more merchants and consumers.
The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a "patchwork" of state laws that banks will have to comply with.
The 23rd annual ranking of women leaders in the banking industry.
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