The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.
The merger could help make open source and cloud computing more commonplace at banks. But it may have an unintended consequence as well.
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Visa and American Express are both reportedly trying to lure Apple's lucrative credit businesses away from Mastercard. But the battle over processing rights is just as much about accessing the technology company's digital wallet as it is about boosting transactions.
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Even though it's coming during a volatile period for the markets and economy, the cryptocurrency company's planned listing puts pressure on rivals and regulators.
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The industry was already spending billions to automate before 2020. What it needed was a cultural shift to try new things.
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Envestnet sees asset management as poised for major changes as broker-dealers move to fee-based business.
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Digital advice is still in its early days, says SigFig CEO Mike Sha.
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Apps aimed at the very wealthy have lagged behind those for other groups, but there's interest in developing them, especially ones that track total net worth.
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Gordon is currently president of the National Community Stabilization Trust, a nonprofit organization that promotes neighborhood revitalization and housing affordability.
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The Community Home Lenders Association has called for suspension of federal limits on the loan volumes that Fannie Mae and Freddie Mac can purchase from individual lenders. The demand came on the same day that the Biden administration fired FHFA Director Mark Calabria and started the process of nominating his successor.
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Thompson, who was most recently the deputy director of the FHFA’s Division of Housing and Mission Goals, replaces Mark Calabria, who was fired Wednesday afternoon.
Alice Milligan has pushed Citi to introduce dozens of mobile enhancements intended to simplify customers' interactions with the bank.
The proposed $35 billion merger between Capital One and Discover cleared a major regulatory hurdle as the Justice Department told financial regulators in a confidential memo that it didn't have sufficient evidence to block the transaction.
The Consumer Financial Protection Bureau doubles its anticipated rulemaking agenda from last year, even as bureau employees expect mass layoffs.
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Illinois' recent move to prohibit the inclusion of taxes and tips in credit card interchange fees suggests that electronic transactions are too expensive and also that there are too many entities working unilaterally to reduce those costs.
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Nearly 20 years ago, the SEC made business development companies subject to an obscure reporting rule that pushed them out of major index funds. Reversing course would be a major boon to small businesses.
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All eyes are on the FDIC's toxic workplace scandal and the resultant resignation of its longtime director. However, another problem not being discussed is the agency's "problem bank list."
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"We're coming into your market," PNC Chief Executive Bill Demchack said Friday. "If you're not coming into our market to come fight us, we're coming to your market to come fight you, and we're going to get some percentage of your market."
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During the fourth quarter, the Buffalo, New York-based bank reported its lowest ratio of nonperforming loans to total loans since 2007.
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Merchant groups are not taking a position on President Donald Trump's threats to cap interest rates, but they are bullish on the president's endorsement of the Credit Card Competition Act.
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Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.
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Community Financial in Syracuse has agreed to purchase a small bank that's built its business model around end-of-life planning.
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Bilt's new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.
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Virtual reality and agetech devices were among the consumer electronics devices that caught the attention of U.S. Bank Chief Innovation Officer Don Relyea and Head of Research and Development, Innovation Todder Moning.
The Minneapolis-based bank has collaborated with BTIG since 2014. The investment bank's leadership team will join U.S. Bancorp following the deal's expected completion in the second quarter.
The 23rd annual ranking of women leaders in the banking industry.



































































