The financial services firm based in Houston tried to buy a Chicago community bank three years ago as part of a plan to offer traditional banking and digital asset services on one platform. With Illinois state approval secured, it now awaits a decision from the Fed.
Consumers, especially millennials, increasingly prefer to do everything on their mobile devices, including signing up for services. But as banks start to open accounts for people whom their employees have never met, there are plenty of questions about whether they can tell real customers and crooks apart.
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Illinois' recent move to prohibit the inclusion of taxes and tips in credit card interchange fees suggests that electronic transactions are too expensive and also that there are too many entities working unilaterally to reduce those costs.
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PayPal has brought on expert pitchmen from Uber and Plaid to build an advertising platform for merchants. Its rivals are on a similar path.
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Late payments, which have been on a steady rise since 2021, are now climbing at a slower rate or even declining at some major card issuers. Risks remain, but there's 'reason to be cautiously optimistic," one analyst said.
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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Stifel Financial, the Missouri-based investment bank known for snapping up regional rivals and Wall Street castoffs, agreed to buy Barclays Plc's U.S. wealth- management business.
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First Citizens BancShares in Raleigh, N.C., has hired Brent Ciliano to be its chief investment officer.
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BancPlus in Ridgeland, Miss., has hired two Morgan Stanley financial advisers to lead its new wealth-management unit.
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Shares in the lender fell after it reported lower third-quarter profits, said nonperforming assets rose and cautioned that it had lost multifamily loan deals to competitors offering easier terms.
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Credit unions in the Garden State are frequently at the bottom of national rankings for key financial metrics. Further consolidation is likely needed to help bolster these results.
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The regulator of Fannie Mae and Freddie Mac discussed steps the companies have already taken to limit their risk, as well as efforts to prevent housing market “overlap” with the FHA.
ESL Federal Credit Union's plan to acquire Generations Bancorp marks the 16th deal this year in which a credit union plans to acquire a bank. While controversial, such transactions are swelling in number.
A bill being introduced by Sen. Catherine Cortez Masto, D-Nev., would compel the Federal Home Loan Bank System to contribute 30%, or a minimum of $200 million, of each bank's net earnings into affordable housing or other community development programs.
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The Chinese government has forced banks to deny Chinese emigrants access to their retirement savings. What Beijing will demand next is anybody's guess.
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Already well-established in other countries, a conduct risk authority would monitor banks for the kind of risky behavior that the current examination regime might miss.
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While the central bank's reverse-repurchase facility generally works to stabilize the financial system, under certain circumstances it would spark a rapid flow of deposits out of banks. A growth cap would prevent that problem.
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Fintechs and banks approach innovation from different starting points. Noelle Acheson points out that this can be seen in their approach to payments, and now also in the approach to stablecoins.
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Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question.
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Central Bancompany said in a presentation to investors this month that it's looking to overhaul its core technology and data systems, while also hunting for a deal.
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The Consumer Financial Protection Bureau Thursday will publish a revamped version of its Section 1071 small business data collection rule, dramatically scaling back the data to be collected and the number of lenders who must comply.
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An appeals court's decision will make it harder for consumer-lending-focused fintechs to operate in Colorado. But the impact could eventually be felt more widely, according to both industry groups and consumer advocates.
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The new rules require banks in the ACH network to implement risk-based monitoring to combat rising fraud and scam schemes.
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Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
The Federal Reserve Board finalized changes to its supervisory rating framework, allowing large bank holding companies to be considered "well managed," even with one deficient rating.
The 23rd annual ranking of women leaders in the banking industry.
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