A number of banks experienced major increases in 7(a) lending activity during SBA's recently completed fiscal year, as program-wide loan volume topped $37 billion for the first time.
The latest generation of anti-money-laundering software uses agentic AI to help alleviate AML alert fatigue. Experts say this use of the technology is promising, though they offer some caveats.
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Taylor Swift's tie-up with the third-largest bank in Singapore propelled the lender's credit card fees to a record in the third quarter, the latest example of the pop star's extraordinary economic heft.
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A selloff of the French company's shares sparked similar issues at other publicly traded payments firms in Europe. The question is whether the underlying issues — inflation and fears of recession — are severe enough to drag down American companies as well.
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The change would lower the maximum fee on a $50 debit transaction from 24.5 cents to 17.7 cents. The central bank points to lower processing costs for card issuers in recent years.
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Not long ago, executives at PNC Financial Services gave a heads-up to the bank's advertising firm, Deutsch: Start brainstorming for a new campaign that focuses on investment services.
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Citigroup Inc.'s private banking unit plans to set up a social networking site exclusive to the kids of ultrarich Citi clients.
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Moelis submits a revised Fannie/Freddie blueprint; FASB considering a plan to have banks break out charge-offs and recoveries on year-by-year basis; Wells Fargo layoffs begin with 1,000 jobs in mortgage and tech; and more from this week's most-read stories.
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Challenges will likely increase as interest rates rise and investors grow more concerned about a downward turn in the economic cycle.
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Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.
Alternative financial service providers that sell prepaid cards, bill pay, check cashing and other services to underbanked consumers are becoming more sophisticated with the ways they mine customer data.
The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.
The avalanche of cases announced Friday included charges against a no-longer registered advisor and firm accused of misappropriating more than $20 million from clients.
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A central bank digital currency based on the U.S. dollar could pull deposits from banks, and it might crowd out innovative private-sector products.
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Even financial institutions that have updated their practices still don’t hit the basic benchmarks of transparency and fairness.
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Allowing the Small Business Administration to originate, rather than just guarantee, loans would provide much-needed capital to startups and mom-and-pop shops that many banks, credit unions and other lenders view as risky credits.
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The superregional bank ranked at the top of surveys from Javelin Strategy and Keynova Group on mobile banking features for the second consecutive year.
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Fifth Third announced it plans to buy the Dallas bank in a $10.9 billion transaction.
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The London-based firm is seeking a license that would provide a direct connection between merchants and card networks, reducing reliance on third parties and brandishing the London company's image as a player in America.
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Many banks lowered the interest rates they pay on certificates of deposits and high-yield savings accounts in September, capitalizing on the Fed's 25-basis-point cut.
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The fund is designed to generate a financial return, as well as Community Reinvestment Act credit, for TD. Its inaugural investment is in a mixed-use project that will include 49 affordable housing units.
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A government shutdown and a single senator's hold prevented the renewal this week of a bipartisan law that helped banks and other firms defend against hackers.
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For a newly launched RIA, its website is one area in which less can be more — but only if the firm's online HQ puts the right visitors on the path to conversion.
In a unanimous vote, the Board of Governors moved to lower Morgan Stanley's stress capital buffer requirement to 4.3%, down from a preliminary 5.1% based on this year's stress test results.
The 23rd annual ranking of women leaders in the banking industry.
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