Federal Reserve Bank of Chicago President Austan Goolsbee said the central bank should focus on getting inflation to its 2% target before making any additional cuts to short-term interest rates.
Aspiration Bank relies on software tools to pull data from diverse sources to prevent fraud in account applications.
-
Buy now/pay later lender Affirm hit profitability goals for its fiscal year 2025 and set aggressive guidance for fiscal 2026 ahead of Wall Street's estimates. Its stock soared more than 10% Friday.
-
Finastra is the latest bank tech provider to bring stablecoins to cross-border payments, which experts say is a way banks can use blockchain post-GENIUS Act.
-
Self Financial sees earned wage access as the perfect complement to its suite of credit building products. It's the latest example of EWA being paired with broader financial wellness products.
The bank developed its cloud-based Ally.ai platform within months. Now it has rolled out its first use case: summarizing customer service calls so the agent doesn't have to multitask.
-
Citizens Bank and Citigroup are among the financial institutions plugging away at a service that has gained little traction among customers.
-
With money flow suddenly stifled for millions of customers, demand for money management tools has skyrocketed.
-
Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf.
-
But a Zillow economist argues that there's plenty of evidence suggesting strong GDP and job growth had more to do with the increase than what Fitch did.
-
Gateway First Bank, a former nonbank home lender, rode the pandemic era's mortgage wave to No. 1 on American Banker's latest list of top-performing banks based on full-year 2022 data. Now it has to cope with the housing market slowdown.
-
The top five community banks have more than $670 million in combined home equity loan portfolios as of March 31, 2023.
The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.
The Natural Treasury Employees Union has asked a district court to clarify whether Russell Vought, the acting director of the Consumer Financial Protection Bureau, has complied with a preliminary injunction.
-
Open banking offers immense opportunities for the industry and the consumers it serves, but it will only deliver on this potential if banks proactively build customer trust and work together to assure standardization.
-
Partnerships between innovative banks and fintechs must adopt a "shared responsibility" model for the safety and soundness of the partnership.
-
Regulators need to consider the risk and complexity of a BaaS companies and connect the dots to bank safety and soundness and consumer protection.
-
Federal Reserve Vice Chair for Supervision Michelle Bowman said in comments Wednesday that the central bank plans to publish its Basel III endgame capital proposal for public comment before the end of March.
-
The sale of AO Citibank to Moscow-based Renaissance Capital marks the end of an exit plan that started in 2021 and expanded after Russia invaded Ukraine the following year.
-
Data breach extortion group ShinyHunters used social engineering to steal customer names, addresses and phone numbers from the blockchain lender.
-
About 70% of bank CEOs said in a recent survey that they are the AI decision makers in their companies. The reasons for this range from the huge impact AI can have on an organization to the fear of missing out.
-
A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.
-
Beneficial State Bank in Oakland has reached a three-year agreement with the Communications Workers of America. The deal follows a groundbreaking union pact the bank signed in 2021.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
In a speech Tuesday, Federal Reserve Gov. Michael Barr said it was possible that artificial intelligence will boost productivity in an undisruptive way. But he said policymakers should also be wary of a financial crash if those gains are not realized or a rapid adoption that could lead to labor displacement.
Adyen is powering payments on Uber's new ride-hailing kiosk at La Guardia airport in New York. For the fintech, it's an opportunity to advance payment personalization.
The 23rd annual ranking of women leaders in the banking industry.
-
Sponsored by Mitek-Logo -
Sponsored by Servicenow-Header_Logo -
Sponsored by CD-Valet_Logo -
Sponsored by Mitek_Logo
