The Consumer Financial Protection Bureau plans to transfer its entire enforcement and legal divisions to the Department of Justice and is likely to staff in those units, according to sources briefed by agency leadership.
Citizens Bank's largely millennial student loan applicants were not responding to email and phone communications. So it created a messaging service that mimics the social media they know and love.
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The card networks extended an agreement to keep interchange the same for cards issued outside of the European Union; meanwhile Ant Group's Alipay adds a number of AI-powered assistants.
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Washington policymakers are not adopting policies necessary to keep the U.S. on the cutting edge in payments. Fortunately, the dual banking system offers an alternative path forward.
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Micromanaging the terms under which payment networks are willing to process debit-card transactions is bad for both businesses and consumers. Congress has the power to roll back intrusive regulations.
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 widespread adoption of online and mobile banking has largely happened at a time when rates have been near zero. At some point, rates will rise and the value of the experience will be pitted against the value of a yield for depositors. Rate-hoppers will be able to move at an unprecedented speed.
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Driven by solid gains in both interest and noninterest income, Northern Trust Corp. in Chicago reported a profit of $234.6 million in the third quarter, up 15% from the same period in 2014. Earnings per share climbed 14%, to 96 cents, in line with the estimates of analysts polled by Bloomberg.
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Bank of New York Mellon, the worlds second-largest custody bank, reported a third-quarter profit that beat analysts estimates as the company cut expenses to offset the impact of lower interest rates.
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More digital competition, tougher tech choices and a completely new generation of customers are just some of the challenges facing bankers in the near future.
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The company will significantly boost its origination volume after buying 51% of BrandMortgage.
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The company will hold off on making loans under the Advantage Loan program as it conducts an audit and implements new policies and procedures.
Now that earnings season has kicked off, investors will be paying close attention for signs of loan growth and deposit pricing relief, though analysts don't expect improvements to materialize right away.
The agency is offering buyouts and early retirement incentives for employees, with layoffs possible if targets aren't met, as part of the Trump administration's overall downsizing of the federal government.
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Recent bank failures point to the need for banks to expand their customer base. That might require stepping outside your comfort zone.
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Just as the United States is getting good news in its war against inflation, the picture is very different across the pond. Some of that is bad luck, but there are lessons on what not to do as well.
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Banks that haven't built a plan to implement the Federal Reserve's new real-time payments system still have time to make up lost ground.
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Witnesses and lawmakers at a House Financial Services Committee hearing gave a more downcast view of a Senate deposit insurance reform proposal, with many House committee members expressing cost concerns.
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In the company's first earnings report since going public, CEO Sebastian Siemiatkowski offered what analysts called a conservative Q4 outlook while laying out its growth plans that included an expanded distribution network, increasing its long-term installment loan penetration with merchants and becoming a full-fledged neobank.
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An October staff memo from the Federal Reserve's Division of Supervision and Regulation outlines changes to how supervisory activities will be carried out, including a greater emphasis on relying on examinations conducted by state banking supervisors.
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The Office of the Comptroller of the Currency issued an interpretive letter Tuesday that would allow banks under its jurisdiction to hold small amounts of network tokens to test and process customer transactions.
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Treasury Under Secretary for Domestic Finance Jonathan McKernan said he is concerned that the traditional bank funding model of taking in low-cost deposits and making more lucrative loans could be set for a shakeup as fintech challengers get more competitive.
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An activist investor is seeking more information on how, and when, the largest bank deal of 2025 came together.
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Ninety banks made American Banker's annual Best Banks to Work For ranking, which is now in its 13th year. Find out why the banks ranked 21st to 90th stand out.
American Banker's 2025 Best Banks to Work For ranking includes perennial winners and several newcomers. Here's how the leaders of the top 20 banks keep their employees happy.
The 23rd annual ranking of women leaders in the banking industry.
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