Treasury Secretary Bessent said FSOC is readjusting its approach to avoid stifling growth in moves with implications for capital, technology and mortgages.
More than 41% of banks have bought into hyperconvergence a blend of integrated server, storage and networking technology that's easily managed by software and there's no sign of its popularity letting up. PeoplesBank, a community bank in Massachusetts, is one of those that caught the bug.
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Deutsche Bank hired UBS' Aly Alibhai to head North American mergers and acquisitions; National Bankshares promoted Lara Ramsey to president; Apple Pay users in the U.S. and U.K. now have a pay later option through Klarna; and more in this week's banking news roundup.
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The credit card lender's earnings beat analyst expectations, but it also reported weakness in spending and higher late payments. Amex boss Steve Squeri said consumers are "resilient" and credit remains strong.
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During Thursday's earnings call, Chief Financial Officer John Greene told analysts that "everyday living expenses" are a challenge.
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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The Cincinnati bank will be advised by QED Investors on its fintech strategy .
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The $143 billion-asset company has agreed to buy the Retirement Corporation of America, an advisory firm based in Fifth Third’s headquarters city that focuses on the needs of retirees.
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A consortium of fintech companies have formed a new industry group to advocate for better data sharing via open APIs.
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One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.
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The policy comes more than a month after a different agency issued similar guidance for loans backed by Fannie Mae and Freddie Mac.
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A unit of the Huntsville, Ala.-based institution has acquired Ben Porter Realty and rebranded the company as Redstone Family Realty.
Hanscom Federal Credit Union in Massachusetts said it would acquire Peoples Bancorp and its insurance agency. It marked the 21st deal of the year involving a credit union buying a bank.
Although the Trump administration is abandoning the CFPB's rule 1033, there are still a number of security standards to follow.
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A new rule allowing people with long-ago criminal convictions to find employment at credit unions is good for both the industry and for society at large.
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Intuit is shutting down one of the most popular personal financial management sites of its time — which attracted millions of users despite its counterintuitive approach to accessing consumer data.
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Investing in website accessibility isn't just the right thing to do. It also makes good business sense.
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PayPal and other fintechs already offer small business loans based on future payment flows, creating a competitive market.
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The lawsuit alleges the fintech giant secured its own corporate data with strong MFA while leaving client systems vulnerable to compromise.
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A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.
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The Texas-based community bank is turning itself into a "digital asset financial institution" as the Trump administration pushes crypto-friendly policy and other banks make their bids.
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KeyCorp CEO Chris Gorman said Tuesday that the bank has doubled its buyback plans for the fourth quarter and laid out a new long-term profitability target. The comments came a few days after HoldCo Asset Management issued a scathing report about the bank's performance.
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Democratic senators are calling for Senate Banking Committee Chairman Tim Scott to compel the acting director of the Consumer Financial Protection Bureau to testify.
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Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.
In a sternly worded letter, Sen. Elizabeth Warren and Rep. Maxine Waters demanded to know why federal agencies haven't provided more guidance since the one-cent coin was discontinued. They accused the Trump administration of making an "abrupt and unilateral decision" without thinking it through.
The 23rd annual ranking of women leaders in the banking industry.
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