U.S. Bank's merchant acquiring group this week named Wally Mlynarski — formerly of Bank of America and a former executive at Evalon — to the top job as AI sweeps over the industry and with fintechs and traditional rivals ready to pounce.
More than two-thirds of Citi's U.S. commercial clients are using the platform, and a global rollout is next.
-
CEO Ryan McInerney reiterated the company's long-held stance that the Credit Card Competition Act was "very harmful" and "just simply not needed."
-
The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit card interest rates.
-
The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.
Legacy core systems and the high cost of hiring people with artificial intelligence skills are among the factors getting in the way of big AI payoffs, experts say.
-
From Citigroup's positive earnings butting up against fines from the Office of the Comptroller of the Currency to First Guaranty's 15% layoff, here are earnings highlights to be mindful of.
-
The sale of the $318 million-asset portfolio comes five weeks after the Greenville, South Carolina-based company agreed to sell its investment advisory unit.
-
Regions Bank hires next corporate banking group leader from within; Detroit CU names its first-ever woman CEO; United Community raises its quarterly dividend; and more in this week's banking news roundup.
-
The 30-year fixed mortgage rate rose for the first time in six weeks, driven by Friday's strong jobs report and renewed uncertainty around tariffs.
-
Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.
-
The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.
The Minneapolis-based company will return to its former governance structure when it installs CEO Gunjan Kedia as board chair. Andy Cecere had served as chair during his tenure as the company's chief executive, and then became executive chair when he stepped down as CEO last year.
Comptroller of the Currency Jonathan Gould took several assertive stances at a Senate Banking Committee hearing Thursday, minimizing concerns about banks' potential compliance costs to collect citizenship data and sidestepping questions about World Liberty Financial's trust charter application.
-
Too often, small fintechs working to bring innovative technology online in the U.S. determine that they would be better off overseas. Regulators should copy existing "sandbox" models to keep them here.
-
Today, if you own Apple stock, you can't send a few shares to your nephew on his birthday, you can't swap them for Google stock and you can't use them as collateral for a loan. Tokenization will change that.
-
A former member of Congress and current bank chairman calls on lawmakers to pass several reforms that would allow banks to take back market share that has been lost to nonbank competitors.
-
Comptroller of the Currency Jonathan Gould encouraged the audience at a crypto conference Tuesday to weigh in on the agency's GENIUS Act implementation rule and said a separate anti-money laundering proposal from OCC and Treasury would be coming soon.
-
Americans 70 years or older held 26% of the United States' $48 trillion in real estate wealth in the third quarter of last year, Redfin said.
-
The Federal Open Market Committee is widely expected to keep interest rates steady when it concludes its regular meeting tomorrow, but rising uncertainty about inflation in the wake of the Iran war is clouding the monetary policy outlook.
-
Bank of America has reached a settlement in principle to resolve a class-action lawsuit filed by victims of Jeffrey Epstein.
-
Peter Chapman, chief technology officer at Grasshopper Bank, initially saw AI as "the best intern that you could ever have." Today the technology is taking on more advanced work at the bank.
-
Along with the AI tools, ICE Mortgage Technology also added 16 exception-based automation servicing agents with directly integration to its servicing platform.
- 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.
Bank of America has reached a settlement in principle to resolve a class-action lawsuit filed by victims of Jeffrey Epstein.
Along with the AI tools, ICE Mortgage Technology also added 16 exception-based automation servicing agents with directly integration to its servicing platform.
The 23rd annual ranking of women leaders in the banking industry.
- Partner Insights from InvestiFi
- Partner Insights from Fireblocks
- Partner Insights from Alkami
-
Partner Insights from Dell Technologies with NVIDIA
