The Treasury Department issued guidance on how merchants can round cash transactions to the nearest nickel. Banks and retailers have been calling for more clarity from the government amid a penny shortage that stems from the Trump administration's abrupt decision to halt production of the one-cent coins.
OpenFin, a devotee of open source software, has raised $15 million in Series B funding to fuel staff expansion, business development and new products.
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Not all banks and fintechs are on board with numberless cards, and some payment professionals question whether they are worth the cost.
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Morgan Stanley and ABN Amro tapped fintechs to improve cross-border transactions. That and a U.K. card fee cap highlight this week's roundup of payments news.
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As the Biden administration comes to a close, the agency called out "bait-and-switch tactics" by card issuers. It also announced a new tool allowing consumers to comparison shop for credit cards.
The British machine learning technology company Featurespace is boosting its expansion strategy in the U.S. by arguing that fraud-fighting technology can improve on its own through experience.
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Marbue Brown will oversee customer experience in Chase’s branch network, call centers and digital and mobile platforms.
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The Alabama bank will add the nonprofit's financial-advice centers for underbanked consumers to 88 branches over the next four years, in addition to the 12 it already housed.
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The New Jersey company has agreed to acquire Quadrant Capital to expand in its home state. The company recently bought Murphy Capital.
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More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.
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It's unlikely that lawmakers will pass new coronavirus-related legislation before Congress leaves for its October recess.
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More consumer and commercial borrowers are paying their loans, increasing the likelihood that charge-offs will be manageable for banks despite the ongoing pandemic.
John Asbury, who is CEO of Atlantic Union Bankshares, said credit unions that compete head-to-head with for-profit banks should lose their tax-exempt status. He also called for bank regulation based on complexity rather than size.
Nissan Motor Acceptance Corp. has applied for an industrial loan company charter, joining General Motors and Ford in hoping for better prospects for approval under the Trump administration.
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The Center for Responsible Lending calls for states to continue to police high-cost lenders rather than facilitating their growth.
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After a 2023 that witnessed several significant bank failures, here's how bank regulators should be thinking about the danger of bank runs, and structuring their supervision, going forward.
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A former comptroller of the currency assesses last year's turmoil in the industry and charts a path forward including advancements in regulation.
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Here are the 10 stories our readers paid the most attention to in a year of political, economic and technological change.
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The Senate confirmed Travis Hill as the chairman of the Federal Deposit Insurance Corp. as part of a slate of nominations that were approved late Thursday. Hill has been serving as acting FDIC chair since January.
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The Federal Reserve Board voted 6-1 on Friday to seek public comment on a proposed "skinny" master account.
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The Dallas bank turned down another offer because it thought it could get a higher price from Fifth Third, and also could ink an agreement faster, according to Comerica's latest regulatory filing.
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The payment fintech is marketing technology that lets merchants sell through AI agents; Google adds a credit card for India's national real-time payment rail. That and more in American Banker's global payments and fintech roundup.
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The megabank cleared a regulatory hurdle when the Office of the Comptroller of the Currency freed it from a July 2024 amendment to a consent order. Two other orders, one from the OCC and the other from the Federal Reserve, remain in place.
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Visa launched its Stablecoin Advisory Practice, a value-added service from its consultancy arm Visa Consulting & Analytics, to help financial institutions, fintechs and merchants deploy stablecoin technology.
Federal Reserve Gov. Stephen Miran said higher goods prices could be the trade-off for bolstering national security and addressing geo-economic risks.
The 23rd annual ranking of women leaders in the banking industry.
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