The payment company launched new tools for merchants and entered artificial intelligence collaborations with OpenAI and Mastercard ahead of the company's second quarter earnings, which beat analyst expectations.
Major cloud, consulting and software providers like Microsoft and Deloitte are plugging "blockchain as a service" for financial institutions that want to experiment with this technology without making huge investments.
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The median interest rate that large credit card issuers charged consumers with good credit in the first half of 2023 was 28.2%, compared with 18.15% at smaller banks and credit unions, according to a study by the Consumer Financial Protection Bureau, which is on a campaign against excessive fees.
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Sens. Sherrod Brown of Ohio, Jack Reed of Rhode Island and Elizabeth Warren of Massachusetts asked Early Warning Services, which operates the payment platform Zelle, to clarify its reimbursement policy around impostor scams.
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Ex-State Street exec joins Citizens Financial's board, payment software firm Toast will cut workers, Visa rolls out enhanced digital wallet tools and more in the weekly banking news roundup.
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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Despite the steady, upward trajectory of the stock market and declining unemployment figures in most states, middle-class Americans report they're less secure about their personal finances now than they've been more than two years, according to the results of a survey from First Command Financial Services.
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Letting the numbers speak for themselves, Bank of America has sent a message to anyone still disgruntled over its $29.1 billion purchase of Merrill Lynch. And that message is: "I told you so."
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Bank of America Corp.'s Merrill Lynch named John Thiel as the new head of U.S. Wealth Management, one of the top positions in the bank's Global Wealth & Investment Management group, according to an internal memo.
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The two banks’ CEOs used a public hearing to argue their merger will be a boon for underserved markets. But other speakers warned that bank consolidation hurts communities.
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Blue Lion Capital, which has been critical of the Seattle company in recent years, has nominated two individuals to become directors.
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The bank is expecting to benefit from the discount airline's first flights to the Aloha State even as a white-hot local housing market starts to cool.
New top executives were lined up for lenders across the West and Midwest, including Bank of North Dakota.
Ahead of a court hearing, the top lawyer at the Consumer Financial Protection Bureau says he ordered supervisory staff to get back to work. But examiners and supervisors are disputing that work is being done, noting that travel credit cards have been cut off.
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The Biden administration's decision to fill the Republican seats on the Federal Deposit Insurance Corp. board only makes sense if it was a mistake.
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Investor activity in the housing market has had a nominal impact on the cost of housing, the head of the National Rental Home Council writes, citing research by one of the government-sponsored enterprises. Supply-demand imbalance is the primary driver of price appreciation, he argues.
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Reports of the death of branch banking have been greatly exaggerated.
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U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.
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Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.
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In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.
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Farmers National Banc Corp. in Ohio plans to acquire in-state rival Middlefield Banc Corp. in a deal that will deepen the buyer's footprint in Columbus.
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An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.
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U.K. regulators approved the acquisition, which is part of Global Payments' plan to scale its point of sale restructuring.
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Federal Reserve Governor Michael Barr said strong oversight mechanisms and consumer protections are needed for stablecoins to make them a more viable payment instrument.
The bank technology company has released Smart Basket, which uses emerging artificial intelligence to improve transaction routing, a strategy that's quickly becoming table stakes for fintechs and financial institutions that offer payments.
The 23rd annual ranking of women leaders in the banking industry.
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