The Consumer Financial Protection Bureau ended a consent order earlier than expected against the credit bureau TransUnion, saying the company already paid a $5 million fine and $3 million to consumers.
Despite email filters and training programs, bank customers still click on fake emails and malicious links at an alarming rate. Newer technologies and methods hold promise for getting phishing under control.
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To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.
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Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
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The payment processing firm said that companies will no longer be locked in to processing payments with Stripe in order to access its other products.
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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Bank of America's Andrew Sieg, head of retirement services, will now also lead its global investment solutions unit as Kunal Kamlani steps down and leaves the company.
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ING Group NV's U.S. retirement division is attempting to pursue small and midsize defined contribution business through the banking channel and with a convenience payroll strategy.
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The Financial Planning Coalition, a group that includes several organizations representing thousands of financial advisors, last week released a copy of a petition it sent to the Securities and Exchange Commission, asking the regulatory agency to extend the definition of fiduciary standard to include "anyone providing personalized investment advice to retail clients."
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Banks currently can help their CRA performance with mortgages to anyone in a distressed neighborhood, but Joseph Otting said officials crafting a reform plan are considering limiting that to lower-income borrowers.
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The head of the Senate Banking Committee invited the housing secretary to Idaho to discuss low-income housing shortages.
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A new survey from PenFed found that 40% of adults said that personal finances or job stability was the No. 1 factor when thinking about purchasing a home.
Industry Bancshares got into a deep hole after rising interest rates tanked the value of its sizable bond portfolio. Now the Texas community bank is expecting a $195 million capital infusion and taking steps to start relying more on revenue from loans.
In a surprise move, the Consumer Financial Protection Bureau said that it will not enforce or supervise lenders for the final payday lending rule. The bureau also plans to narrow the scope of the rule.
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Banks, flush with money to lend, will keep upward pressure on inflation in 2023 and perhaps several more years as they lend out their bloated reserve balances.
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The Federal Housing Finance Agency head has said: "The status quo is not acceptable." She could not be more correct.
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The only way for Fincen to assure that banks have the tools to identify illicit shell companies is for the agency to verify the information in its new beneficial ownership database.
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The Minneapolis-based bank is still exploring stablecoin options outside of custody services, but sees opportunity in trade finance, CEO Gunjan Kedia said at The Clearing House Annual Conference in New York Wednesday.
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Large banks seem comfortable paring back their capital positions while they await an updated proposal on the so-called Basel III endgame. The rules are widely expected to be more lax than what was proposed during the Biden administration.
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The ICBA opposed Coinbase's filing for a trust charter in a public letter as Comptroller Jonathan Gould defended the fintech charter process on Tuesday.
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After more than a quarter-century as a regulator, Jason Sisack had planned to enjoy some time off before taking a new job. He reversed course once Carver, which is operating under an enforcement action, approached him.
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Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.
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With the U.K. and U.S. giving a green light to the company's $22.7 billion scale-building deal to buy Worldpay, Global Payments has begun its integration strategy.
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The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.
FirstSun Capital Bancorp plans to buy First Foundation in an effort to accelerate its Southern California growth. The $785 million transaction follows FirstSun's failed takeover of Seattle-based HomeStreet.
The 23rd annual ranking of women leaders in the banking industry.
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