Spring Bank CEO Barry Mann has accumulated a 6% stake in New York City-based Carver Bancorp. Carver has a history of underperforming, but Mann is optimistic about its chances under new CEO Donald Felix.
The Federal Trade Commission has closed its investigation of Morgan Stanley's massive data breach. It has identified the problem that allowed the breach to happen: access controls to a narrow set of reports were improperly configured.
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A jury found the tech giant violated anti-monopoly rules by requiring in-house checkout for game makers such as Epic, which publishes Fortnite. Google and Apple may have to cut fees, but outside processors will be challenged to create a winning user experience.
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Michael Rhodes, who has spent the last dozen years in various executive roles at TD Bank Group, will become president and CEO of Discover Financial Services. The move comes four months after the unexpected departure of Discover's longtime CEO Roger Hochschild.
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A tightening economy plus an aggressive start to fourth quarter shopping will put firms' underwriting decisions under the microscope as regulators' concerns mount.
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 Internal Revenue Service audited 18.4% of taxpayers reporting income above $10 million last year, up from 10.6% the previous year.
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Baird expanded its wealth management business Tuesday by recruiting new advisers overseeing a total of $450 million in client assets to two of its new offices.
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The earthquake in Japan highlights the difference between what many investors see as the right way and the wrong way to use single-country exchange-traded funds.
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The Senate Banking Committee will examine the nomination of Mark Calabria to oversee the regulator of Fannie Mae and Freddie Mac, as well as nominees for the NCUA board and Treasury.
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SunTrust’s merger with BB&T is the largest bank deal since the financial crisis, and mortgages will play a critical role in the execution of this transaction.
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The comptroller of the currency also addressed, in his role as acting FHFA head, whether Congress or the Trump administration will spearhead GSE reform.
The Los Angeles-based company, which focuses on Korean Americans, said the acquisition of Territorial Bancorp will allow it to expand its customer base.
The Canadian bank plans to exit its 10.1% interest in the brokerage firm, allowing it to shore up capital and strategically shrink to adhere to penalties related to its historic compliance failures.
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"An unelected federal regulator is seeking to shortcut the traditional regulatory process," writes ABA Chief Executive Rob Nichols.
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The Expanding Financial Access for Underserved Communities Act will help in the fight to eliminate financial disparities in underserved communities across our country.
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Lenders don't oppose CFPB data collection for small-business loans but favor changes that would minimize unintended consequences for borrowers, a Consumer Bankers Association official writes.
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A number of banks experienced major increases in 7(a) lending activity during SBA's recently completed fiscal year, as program-wide loan volume topped $37 billion for the first time.
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The company is becoming a full-fledged processor and accelerating its artificial intelligence plays, moves CEO Paulette Rowe said provide more control over agentic commerce, which payment experts say is threatening traditional payment facilitators.
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As Coinbase joins a wave of crypto companies seeking national trust charters from the Office of the Comptroller of the Currency, traditional banks are warning regulators not to rush approvals for crypto firms eager to enter the federal banking system.
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A new survey finds that fraud losses have jumped significantly in the last year, with digital channels and check fraud posing the biggest threats.
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Comerica Bank in Dallas has been around since before the Civil War. But the banking crisis of 2023 tamped down on its access to low-cost funding, and the problem persisted until it finally decided to sell itself.
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Federal Reserve Gov. Michael Barr said in a speech Thursday that he fears the gradual pace of price increases from tariffs being passed on to consumers may prolong the one-time inflationary effect of the tariffs to the point where it affects consumers' inflation expectations.
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Comptroller of the Currency Jonathan Gould says he wants to crack down on big banks caught cutting ties with controversial, if lawful, individuals and businesses, as required by President Trump's debanking initiative.
The superregional bank ranked at the top of surveys from Javelin Strategy and Keynova Group on mobile banking features for the second consecutive year.
The 23rd annual ranking of women leaders in the banking industry.
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