Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
The banking-as-a-service pioneer has been reeling from the business since an enforcement action from a federal regulator last year.
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While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.
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By pairing its real-time transfer app with China's UnionPay card, Visa is pursuing business in the huge country, where shifting regulations create hurdles for outside companies.
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CEO Max Levchin said the lender is testing technology that allows merchants to perform more advanced testing of promotional financing offers.
The Rhode Island-based bank plans to use artificial intelligence to boost efficiency and improve customer service. "Everything is fair game," said CEO Bruce Van Saun.
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The company's stock price has jumped 23% since the election, as investors bet that federal student loans will get curtailed, providing more opportunity for the private sector.
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Analysts say lenders' shares could rally on deregulation, lighter tax burdens and a resurgence of M&A. Declining interest rates and lower loan losses could further bolster bottom lines and attract investor interest.
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Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.
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The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.
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The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.
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Here's what industry experts have to say about a risk that a housing regulator has spotlighted through referrals that have led to high-level allegations.
American Banker's 2026 Predictions report finds that nonbank entities and check fraud are major threats to local banks in the coming months.
Following a major Supreme Court ruling on tariffs, which drew a quick response from President Trump, banks and their commercial clients are expecting trade issues to remain in flux for the foreseeable future.
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The administration's haphazard overhaul of financial regulatory bodies has produced confusion and uncertainty. What regulators should be prioritizing now is bringing a sense of stability to the industry.
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The supersonic Concorde was one of aerospace technology's greatest achievements. However, its ultimate commercial failure should be a lesson for those pushing AI into banking. Advanced technologies often develop faster than consumers' ability to benefit from them.
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A comment deadline is approaching on a proposed Consumer Financial Protection Bureau rule that would dismantle longstanding rules meant to protect minorities from discrimination in the market for credit.
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Senate Banking Committee Chair Tim Scott, R-S.C., said Tuesday that he expects the committee to work out a compromise between banks and crypto firms on yield-like rewards — a major sticking point in a market structure bill — by Friday.
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Federal Deposit Insurance Corp. Chair Travis Hill said in remarks Wednesday that privacy and know-your-customer gaps remain for banks that work with public, permissionless blockchains, and that the agency may need to clarify how banks can interact with them.
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The 2023 takeover of Credit Suisse boosted UBS's size but also saddled it with the challenge of integrating vast operations.
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Banks that don't offer buy now/pay later risk pushing customers — especially younger ones — into fintechs' arms.
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Over the course of its first year in office, the second Trump administration has neutralized the enforcement of key civil rights laws by reorienting Consumer Financial Protection Bureau rules and eliminating "disparate impact" that allows banks to be penalized for the discriminatory effects of policies without proving discriminatory intent.
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The former Rocket employee said she faced pressure to resign after requesting remote-work accommodations and leaves of absence to deal with health conditions.
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Banks that don't offer buy now/pay later risk pushing customers — especially younger ones — into fintechs' arms.
Over the course of its first year in office, the second Trump administration has neutralized the enforcement of key civil rights laws by reorienting Consumer Financial Protection Bureau rules and eliminating "disparate impact" that allows banks to be penalized for the discriminatory effects of policies without proving discriminatory intent.
The 23rd annual ranking of women leaders in the banking industry.
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