Federal Reserve Gov. Lisa Cook said in a speech Wednesday night that the central bank's credibility depends on its ability to bring inflation back to its 2% target.
The 10 winning innovations span categories from AI and payments to risk and compliance. An overall winner will be announced at American Banker's Digital Banking event on June 2.
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The London-based fintech has launched a suite of financial services as its global expansion gains steam. That and more in the American Banker global payments and fintech roundup.
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The e-commerce giant, which is in the midst of a corporate downsizing, is discontinuing its Go and Fresh stores and One palm checkout while it repurposes the underlying technology.
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The bill, known as the STOP Act, was introduced by State Sen. Samra Brouk and Assemblymember Steven Raga, and proposes that any wage or cash advance be considered a loan and subject to the state's 16% civil usury law.
The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.
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.
Former Fed Gov. Kevin Warsh is a relatively known quantity to financial markets, but his embrace of President Trump's agenda and the White House's own contentious relationship with the central bank make it hard to know with certainty where — or even whether — he will lead the Fed.
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A significant majority of Americans are now living lives of permanent financial stress, and debt delinquency is on the rise. For bankers, that's a recipe for problems with profitability, and perhaps with safety and soundness.
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Data collected by the Conference of State Bank Supervisors demonstrates a huge disparity in compliance costs between large and small banks. Policymakers in Washington who claim to support community banks must act to reduce regulatory burden.
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The heads of two associations representing military-serving financial institutions argue that the Credit Card Competition Act, as well as the president's demand for credit card rate cuts, would harm troops by reducing access to credit.
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HP CEO and current PayPal board chair Enrique Lores will take over March 1, following a deep slump in the payment company's key metric.
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The Swiss banking giant will come under the spotlight Tuesday at a Senate hearing.where the question of whether a 1999 settlement over Holocaust-looted funds should be reopened is expected to be discussed.
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President Donald Trump's support of legislation that would cap credit card interest rates at 10% has flagged in recent weeks, but experts say that the debate has highlighted significant gaps in regulators' understanding of the credit card market and how its risks are priced.
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The digital bank added two new board members and raised $123.9 million as it continues to manage regulatory costs amid its push for profitability.
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While stablecoins aren't widely used for merchant payments, blockchain tech firms such as BVNK and Polygon Labs are seeking opportunities to add speed to slow-moving international transfers.
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In keeping with its policy of outsourcing functions outside its core commercial and retail banking competency, Signature Bank near Chicago teamed with a larger trust company to fill a longstanding gap in its product set.
The latest directive, which takes effect in March, allows only U.S. citizens and nationals to seek government-guaranteed financing. It's drawing criticism from Democrats in Congress, small-business advocates and some lenders.
Booth, who is BMO's head of U.S. personal and business banking, talked about how soccer has been at the center of the bank's marketing push in California.
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