The New York megabank, which completed the sale of a 25% equity stake in its Mexico retail business, has been exiting certain international markets as part of CEO Jane Fraser's focus on being a simpler, smaller bank.
Banks and data aggregators agree that screen scraping is a practice probably best left behind. In the coming year, the two might get better at sharing data via APIs.
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Transaction volume and nonpayment services boosted earnings, and the card network expects these trends to continue into 2025.
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A Supreme Court ruling from earlier this year regarding national bank preemption is already playing a prominent role in the banking sector's challenge to a state law on charge card fees.
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The processor's sale of medical software firm AdvancedMD comes as it prioritizes small-business payments, according to Cameron Bready.
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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Yolande Piazza has been serving in the role on an interim basis since Heather Cox left for USAA.
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Qapital's funding round comes as banks are increasingly adding money management tools to their mobile apps.
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The bank will have $700 million in assets under management after it buys HJ Wealth Management in Pennsylvania.
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An imminent high court ruling about the independence of the bureau's director, coupled with an election victory for Joe Biden, could doom a plan to extend GSEs' exemption from tough debt-to-income requirements on mortgages.
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A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.
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The Consumer Financial Protection Bureau plans to change the definition of what constitutes a qualified mortgage from a 43% debt-to-income limit to a price-based threshold, and further extend a temporary exemption given to Fannie Mae and Freddie Mac.
The Honolulu-based utility sold a 90.1% stake in American Savings Bank. The deal valued the lender at $450 million.
The Federal Reserve Board governor said higher import tariffs could have a "persistent" impact on inflation.
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Many Democrats' bank-regulatory philosophy is driven in significant part by the premise that banks are too profitable and should retain more of their profits to offset their systemic risks. But there is a danger in pushing that assumption too far.
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The Federal Housing Finance Agency's report on the system at 100 years old signals major shifts in both policy and structure are on the horizon.
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In our ongoing battle against financial fraud, we need a holistic overhaul of the regulatory landscape to safeguard the financial industry and its stakeholders effectively.
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Leading Democrats on the Senate Banking Committee sent a letter to Chair Tim Scott, R-S.C., pointing out the as-yet unsatisfied legal requirement for prudential regulators to appear in Congress semiannually.
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Treasury Secretary Bessent said FSOC is readjusting its approach to avoid stifling growth in moves with implications for capital, technology and mortgages.
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The Federal Reserve Board of Governors voted Wednesday to reappoint 11 sitting regional Fed presidents, without any dissents. The move precludes any effort the White House might have made to pressure the board to deny reappointments.
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Enova International, a nonbank lender in Chicago, plans to gain scale by taking over Grasshopper Bank's national bank charter. The deal already faces skepticism from critics of Enova's high-cost lending model.
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The payments fintech reported an $8 billion valuation as it aims to establish a second global headquarters in Silicon Valley and expand into Europe and the U.K.
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A Consumer Financial Protection Bureau report on Pay in 4 buy now/pay later loans offered validation for an industry that has faced criticism for expanding into everyday spending, such as food delivery.
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Federal Reserve watchers expect a board of governors vote in February to reappoint the 12 regional Fed bank presidents — which is typically treated as a formality — to be the next flashpoint in the White House's effort to bring the central bank to heel.
Through a nonprofit called Greater NY, early career analysts at banks can apply their financial skills at charities and other civic-minded organizations. The partnerships give free help to nonprofits, but provide surprising benefits to the banks as well.
The 23rd annual ranking of women leaders in the banking industry.
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