Three years after acquiring Bank of the West, BMO is preparing to open 130 branches in the Golden State, where it thinks it can achieve density and critical mass. The Toronto-based bank also plans to open 15 branches in Arizona.
Through its partnership with Visa, the California credit union lets members receive digital replacements for lost cards almost instantly and add digital cards to mobile wallets like Apple Pay.
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President Donald Trump said that lawmakers should support legislation that would require credit cards issued by most large banks to offer merchants the choice between two unaffiliated card networks, one of which cannot be Visa or Mastercard.
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The largest bank in the country bulked up its reserves by $2.2 billion for potential credit hits from the Apple card portfolio, which JPMorgan is taking over from Goldman Sachs.
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The U.K. payments processor announced its acquisition of an alternative merchant acquirer license from the state of Georgia as part of its U.S. expansion.
The company, whose software tests AI-based lending models for bias and fairness, is receiving $10 million.
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PNC announces a new head of corporate and institutional banking; Huntington hires JPMorgan exec to lead HR; former HSBC banker returns as the firm's new U.S. CEO; and more in the weekly banking news roundup.
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Peapack-Gladstone's wealth unit is pursuing an ambitious de novo expansion in New York and perhaps elsewhere because M&A has become expensive as private equity money has inflated seller expectations.
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The custody bank will offer clients technology from Microsoft that lets them analyze their data in near-real time, hosted on the latest versions of Microsoft's public and private clouds.
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While Freddie Mac's weekly survey showed 30-year rates falling, other indicators paint a mixed picture for mortgage lenders and borrowers.
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Foreclosure filings increased 7% in January from December, which could be a housing market starting to experience trouble, or a post-holiday return to normal.
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The 30-year fixed rate mortgage continues to slip away from the 7% mark, Freddie Mac said, but experts still expect them to stay higher for longer.
The Federal Reserve will resume accepting pennies from banks and credit unions at all commercial coin distribution locations beginning Jan. 14. The central bank had ceased accepting pennies at some distribution centers late last year, but bankers praised Thursday's reversal.
In a speech Tuesday, Federal Reserve Gov. Michael Barr said it was possible that artificial intelligence will boost productivity in an undisruptive way. But he said policymakers should also be wary of a financial crash if those gains are not realized or a rapid adoption that could lead to labor displacement.
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Noelle Acheson argues that broad choice between stablecoins is good for users and for the ecosystem — and any confusion can be smoothed by technical and design solutions.
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The failure to reauthorize protections for information exchange under the Cybersecurity Information Sharing Act has created a dangerous gap in our protection against cyber criminals and hostile state actors.
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The demise of the banking industry in the U.S. has been incorrectly predicted for generations. The truth is that the industry never dies, because it never stands still.
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A new report from the Consumer Federation of America says the true cost of online scams is an estimated $119 billion per year; Associated Banc-Corp moves forward with its planned acquisition of family owned American National; Servbank HoldCo completes its acquisition of IF Bancorp; and more in this week's banking news roundup.
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Payment experts detail where banks are going wrong with charge-backs and how they can improve.
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Caution around the move is growing as focus has shifted to affordability, and current trading prices make near-term action unlikely, according to Wedbush.
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David Szuchman, PayPal's top cop, leverages his background in law enforcement, including years in the Manhattan district attorney's office, to help the fintech fight against payment crooks.
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Megan Ryan joins American Banker from the Chicago Fed, bringing insights on the payments industry exclusively for subscribers.
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The Saginaw, Michigan-based credit union brought its credit card program back in-house to capture more member spending and gain added control over customer relationships. Previously, its credit card program was managed by a third-party vendor.
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The Saginaw, Michigan-based credit union brought its credit card program back in-house to capture more member spending and gain added control over customer relationships. Previously, its credit card program was managed by a third-party vendor.
The New York-based bank, which serves plaintiff law firms, agreed to pay $348 million for a Windy City community bank.
The 23rd annual ranking of women leaders in the banking industry.
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