The Phoenix-based bank said that affiliates of Jefferies had stayed current on the loan agreement until last week. The suit is the latest example of private credit-related problems at banks.
Despite advancements in AI for transaction monitoring, financial institutions share little in the way of fraud data, undermining efforts to combat crimes including check fraud.
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The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
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SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.
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Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.
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The former JPMorgan Chase executive will will replace Jim Hays, who is retiring.
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The company is focusing on the future of online retail banking. Next on its agenda: real people in its wealth management division.
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The funds will help the Podolsk Regional Development Agency supply refugees of the Russian invasion with basic necessities such as food and water.
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Loan volumes fell for the third straight week, with depressed demand for government lending driving activity downward, the Mortgage Bankers Association said.
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Some legal experts say the U.S. Supreme Court justices appeared to favor national rules preempting state regulations in the Bank of America in a case regarding mortgage escrow accounts.
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For the first time since mid-December, the Freddie Mac survey reports mortgage rates over 6.7%.
As more consumer data is shared across banks, fintechs and data aggregators, the industry is asking for regulators to step in with better guidance.
The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.
The Mortgage Bankers Association is examining the data to see if the high ratio warrants a new push for a premium cut but said rising arrears call for caution.
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The STATES 2.0 Act, currently pending in Congress, would go a long way toward giving banks confidence that they can provide services to legal cannabis businesses without putting themselves in legal jeopardy.
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The probability of a trade war-induced recession is unclear and fluctuates almost daily. However, the possibility is real enough that banks have a responsibility to prepare for a serious economic downturn on par with the 2008 financial crisis.
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The GENIUS Act, in its current form, fails to account for the substantial risk of stablecoin runs and blocks regulators from imposing necessary oversight. It also lacks measures to prevent their use in illicit transactions.
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Senate Banking Committee Chair Tim Scott, R-S.C., told reporters that community banking didn't fit into the housing package moving forward in the upper chamber, but that he's in discussions with House leaders and the White House to move a separate financial services package.
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"AI may not take your job, but somebody who knows AI will," says Raymond George, CIO of Clearview Federal Credit Union.
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Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., released new legislative language Monday night that includes a ban on institutional investors' purchase of single family homes and a temporary ban on the Federal Reserve issuing a Central Bank Digital Currency.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that the central bank is considering a "fundamental reform" of the discount window, including streamlining rules and processes across the Fed system.
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Experts say that compliance with a potential executive order being considered by the White House that would require banks to collect citizenship information would be costly, especially for community banks.
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Brady, Key's chief information officer since 2012, resigned Monday due to "personal health considerations," the Cleveland-based bank said in a securities filing. Chief Financial Officer Clark Khayat will assume her duties.
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Brady, Key's chief information officer since 2012, resigned Monday due to "personal health considerations," the Cleveland-based bank said in a securities filing. Chief Financial Officer Clark Khayat will assume her duties.
As the Trump administration limits access to only U.S. citizens, volume in the Small Business Administration's flagship loan program is already trailing the 2025 pace. Experts predict that the tighter eligibility criteria will send more loans to nonbanks.
The 23rd annual ranking of women leaders in the banking industry.
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