The Office of the Comptroller of the Currency's recent bulletin warning banks that past debanking actions could affect supervisory reviews is the latest effort to put the president's executive order on debanking into action. But industry sources say the order itself forces banks to choose between pleasing their regulators and taking on unwanted risk.
SunTrust has removed a clause from its severance agreement that laid-off employees claimed would have put them on call for two years to answer questions without compensation. Loss of institutional knowledge may be the cost of offshoring.
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Atlanta-based Global Payments has been working with an adviser to study the feasibility of a deal for Shift4 Payments, according to the people.
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The world's largest credit union reported a 5% increase in total loans in the third quarter while lending at the largest banks was almost stagnant. However, the Vienna, Virginia, institution's charge-offs also jumped significantly.
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The Swedish payment company is using generative artificial intelligence to make its human workforce more efficient — but also expects the technology to fill in for roles it loses to attrition.
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
Texas Dow Employees Credit Union has agreed to acquire Sabine State Bank and Trust in Louisiana to raise its profile in the oil-and-gas industry. The deal coincides with record levels of U.S. drilling this year.
The New York Department of Financial Services has proposed several changes to overdraft fees including banning banks from charging more than three overdraft or nonsufficient funds fees per consumer per day.
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Just as advances in automobile technology have made driving safer, incorporating AI into decision-making reduces financial risks.
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A new book by Hal Weitzman examines the state's policies and how they affect corporate governance around the world.
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The agency’s mission is popular with the public, which has a long memory when it comes to the past misdeeds of the banking industry.
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Bill Demchak said at an industry conference that PNC effectively "bought Colorado" with its recently announced plan to acquire the $27 billion-asset FirstBank.
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The Office of the Comptroller of the Currency announced that Stephen Lybarger will assume the role of Senior Deputy Comptroller for Chartering and Will Giles will be Principal Deputy Chief Counsel amid a surge in fintech and crypto trust charter applications.
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Researchers warn the Android banking trojan can steal money, drain crypto wallets and enable NFC relay fraud.
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Republicans on the House Financial Services Committee voted to table a motion by Rep. Joyce Beatty, D-Ohio., to compel the Treasury Department to provide unredacted financial records related to the late child sex trafficker Jeffrey Epstein, effectively quashing the subpoena.
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CEO Curtis Farmer tried to assure skeptics Tuesday that the Dallas-based bank is focused on shareholder value and profitability, even as an activist investor group prepares to launch a board fight.
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Zelle secured a deal with Alacriti to help Alacriti's bank clients adopt person-to-person payments; Paze teamed up with Canadian payment processor Nuvei to expand merchant use of the wallet.
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There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.
The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.
The 23rd annual ranking of women leaders in the banking industry.
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