In a contentious House Financial Services Committee oversight hearing, Treasury Secretary Scott Bessent sidestepped questions on the Trump family crypto conflicts of interest and inflation with pugnacious responses to Democratic lawmakers' questions.
It's a question many banks are already confronting head-on as they implement new technologies designed to make compliance easier.
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Synchrony issued the Walmart credit card for nearly two decades until 2018, when it lost the partnership to Capital One Financial. The latest deal does not include the balances tied to Walmart's existing credit card program.
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In an interview with American Banker following Circle's IPO debut, President Heath Tarbert discussed the stablecoin issuer's go-public timing, the importance of regulation and transparency and how the fintech sees itself working with banks.
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Large language models, bespoke hardware and embedded AI are attracting banks' tech dollars, experts say.
Experian is adding DataVisor, which specializes in advanced machine learning, to its CrossCore platform to identify unusual patterns signaling new fraud activity.
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The bureau's director, Kathy Kraninger, faced a barrage of criticism from Senate Democrats on the agency's lack of enforcement actions, a reversal on Military Lending Act examinations and changes to the payday loans rule.
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The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.
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Crystal Long, CEO and president of GECU, is being recognized by the National Credit Union Foundation for her efforts in financial literacy.
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Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.
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The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help.
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The top five had a combined portfolio of nearly half a billion dollars.
Forbright Bank was reprimanded by the FDIC last year in connection with its use of brokered deposits. To address the issue, the Maryland-based lender has built out a digital banking arm.
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.
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The Bureau of Labor Statistics has been so underfunded, for so long, that it has been forced to propose cuts to the vital Current Population Survey, which tracks the unemployment rate. Congress cannot allow that to happen.
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The Federal Deposit Insurance Corp. wants to remove an exemption that allows index funds to invest freely in bank stocks. The result will be damaging to the investors who have come to rely on the funds' steady returns.
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The state's ill-conceived law banning interchange fees on sales tax and gratuities will be burdensome and expensive to implement and could portend a patchwork of state-level copycat legislation that would balkanize the payments system.
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The neobank was bullish on cryptocurrency and stablecoins, which could provide tailwinds as it looks to launch new products including crypto-based lending, institutional trading, and correspondent payments and settlements via stablecoins.
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Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.
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Fidelity Digital Assets, the national crypto trust bank subsidiary of Fidelity Investments, is set to launch a dollar-backed stablecoin on ethereum.
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President Trump's announcement Friday morning that former investment banker and Fed Governor Kevin Warsh would be his selection as the next chairman of the Fed ends months of speculation and gives the president a key ally at the central bank.
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The Office of the Comptroller's interpretation of federal trust powers has opened the door for dozens of charter applications by nonbank crypto firms in recent months. Some experts say the agency's interpretation may push the ambiguous statute beyond its limits.
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CEO Ryan McInerney reiterated the company's long-held stance that the Credit Card Competition Act was "very harmful" and "just simply not needed."
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The Minneapolis-based company will return to its former governance structure when it installs CEO Gunjan Kedia as board chair. Andy Cecere had served as chair during his tenure as the company's chief executive, and then became executive chair when he stepped down as CEO last year.
Acquiring Stellar Bancorp will create the second-largest Texas-headquartered bank, with a No. 5 deposit share in the massive Houston marketplace.
The 23rd annual ranking of women leaders in the banking industry.
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