Amid waning federal support for community development financial institutions and minority depository institutions, a program launched by two banking trade groups is beginning to generate a steady stream of deposits for mission-focused lenders.
The Wells Fargo Digital Lab, which opened in late September, offers a glimpse of what banking could look like in years to come.
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Elon Musk's original X.com was an internet bank that became part of PayPal. Musk wants to bring X back to its banking roots, but the market may have moved on.
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Travelers in China can now add Visa and Mastercard to WeChat Pay and Alipay, providing a boost for the country's tourism industry as it tries to recover from the pandemic. Additionally, British regulators may delay plans to tighten the rules for by now/pay later lenders, partly based on concerns that some of the largest lenders may depart the market.
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A rising payments star — and photographer — is helping the card network reach content creators and new entrepreneurs.
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
Southern Bancorp in Little Rock, Arkansas, plans to put $250 million in equity capital it received from the Treasury Department to good use making mortgages and acquiring banks.
The new chair of the Basel Committee on Banking Supervision called for member nations to finish the job of implementing post-financial crisis regulations. He also warned them not to put economic goals over safety considerations.
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Mainstream attention to crypto and active projects mean it's time to have a strategy for CBDCs, says R3's Todd McDonald.
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Accounts payable is one of the most paper-intensive business functions, with lots of room for more environmentally sound processing, Daniel Ball of Medius says.
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The pandemic has caused dramatic changes in all industries, which adds extra stress on payment companies, says PXP Financial's John Bell.
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Unlike rival Fiserv, the bank technology company does not plan to issue its own coin immediately, but it does feel the lure of the broader digital asset market.
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President Trump and his administration have begun to scrap new mortgage lending guidelines that made it easier for home buyers and sellers to dispute property appraisals, finding that homes owned by racial minorities are routinely valued lower than comparable homes with white owners. But despite the promised regulatory relief, many mortgage lenders say the regulatory changes will not impact their lending practices.
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Jay Brogdon, currently president of the Arkansas bank, will take the helm at the beginning of next year.
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The bank is working through a list of legal issues it inherited when it bought Credit Suisse in early 2023.
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The bank is hiring Aashish Dhakad from Ares Management Corp. to become head of private credit origination for North America.
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The Consumer Financial Protection Bureau sent a letter to the Government Accountability Office last week criticizing a probe into the bureau's funding request for 2025, insisting that acting CFPB Director Russell Vought has "sole discretion'' to determine funding and staffing levels.
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Commercial banking's underserved segments—the upper middle market, for one—are creating new pathways for TD, and Gateman is running the ball.
Ghiawadwala, who climbed Mount. Kilimanjaro last year, is helping Citi's commercial banking business reach new heights.
The 23rd annual ranking of women leaders in the banking industry.
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