The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.
Symphony, the instant messaging service supported by fifteen large banks, says it will be ready to roll on Sept. 15 despite the objections of Sen. Elizabeth Warren and regulators who fear its encryption technology will impede supervision.
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The first credit unions enrolled in the Federal Reserve's FedNow instant payments platform say it will fundamentally change the way they serve consumers and businesses across multiple categories.
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Google's $700 million antitrust settlement is part of a series of legal battles that are eroding Big Tech's control over checkout, cracking a door for other transaction processors and the bank-led Paze wallet from Zelle's developers.
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Visa, Mastercard and Global Payments discuss impacts on customer service, web content, security and more.
Research, insights and data on how banks and financial institutions are using AI can now be found in a new location on American Banker.
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Morgan Stanley and Goldman Sachs have arranged two term loans totaling $395 million that will back Hubbard Radio's acquisition of 17 radio stations from Bonneville International, according to sources.
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Putnam Investments announced a new suite of income-oriented funds designed to help advisers better serve their clients' retirement issues.
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The company will shutter the offices it inherited when it bought EverBank in 2017 and focus on lending to existing customers through digital channels. U.S. Bank will assume the leases on about 25 properties.
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The agency's pilot program, designed to streamline mortgage insurance applications associated with the Low-Income Housing Tax Credit program, will now include applications for new construction and substantial rehabilitation.
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The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages.
A veteran Canadian bank analyst says Toronto-Dominion Bank's role in an alleged money-laundering scheme has made the "worst-case scenario" more likely — a huge fine for the lender and years of restrictions on its U.S. growth.
In his semiannual testimony before the Senate Banking Committee Tuesday, Federal Reserve Chair Jerome Powell said the effective shuttering of the Consumer Financial Protection Bureau leaves no federal regulator in charge of policing large banks for consumer protection law compliance.
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Banks need to come together to create interoperable tokenized deposits, as part of an effort to bridge the gap between traditional finance and blockchain.
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Government has an exciting opening to use its unprecedented reach and newfound trust among small-business owners to connect entrepreneurs with sources of capital that can help them grow.
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The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.
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The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
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An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.
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Younger borrowers are increasingly moving money away from financial institutions, but banks could recapture Gen Z capital by helping them build credit.
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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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The Office of the Comptroller of the Currency Monday said it will scrap fair housing reporting requirements, fast-track licensing for small banks and simplify regulation for smaller institutions overall.
Supplies of the one-cent coin have fallen faster than expected, causing headaches for cash businesses and the lenders that provide them with change.
The 23rd annual ranking of women leaders in the banking industry.
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