Treasury Secretary Scott Bessent, who was named to be acting director of the Consumer Financial Protection Bureau, has told the agency's staff to put a halt to all rules, enforcement actions and hiring.
A TD Bank survey found a massive increase in the ranks of people who talk to ChatGPT about their finances. Ted Paris, the bank's head of AI, says banks still have an opportunity here.
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We’re just at the beginning of what will be a period of significant, lasting changes to the world of real-time payments, says FIS' Raja Gopalakrishnan.
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With the realities brought on by COVID-19, going digital is no longer optional—it’s necessary.
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Drive-thru is almost synonymous with fast food, but for some quick-serve chains — like Subway — a past emphasis on in-store dining meant a much sharper pivot when the coronavirus pandemic struck.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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AMR Corp., the Fort Worth parent company of American Airlines Inc., said it has completed the sale of its asset management arm, American Beacon Advisors Inc., to Lighthouse Holdings Inc.
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Federated Investors Inc., a Pittsburgh investment manager, has agreed to buy Clover Capital Management Inc., a Rochester, N.Y., firm that specializes in value investing.
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Curian Capital LLC, a Prudential PLC unit that provides separately managed account platforms, said it will add 21 sales professionals over the next several months.
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While San Francisco had the biggest improvement in affordability for prices today versus 2019, Hartford remains in a very deep freeze, First American said.
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Home prices increased 0.9% year-over-year and 0.1% month-over-month in January, according to the S&P Cotality Case-Shiller national home price index.
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Stock prices jumped notably following the billionaire and legacy GSE investor's comment indicating Fannie and Freddie have been "stupidly cheap."
Shares fell sharply Friday after the company said spending increased 14% in the fourth quarter and will climb by another 8% in 2022. But CEO Jamie Dimon said the investments in marketing, technology and talent are necessary to ward off threats from traditional banks and upstart fintechs.
Metro Bank and two of its former senior managers were hit with penalties by the U.K.'s financial watchdog for knowingly giving investors misinformation linked to the lender's capital adequacy.
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The continued trend of “spear phishing” and “catfishing” only serves to highlight the complex work required to identify genuine from fraudulent, writes Steven Goddard, product manager for risk at The ai Corporation (ai).
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An international move or a business expansion can bring on unexpected challenges that existing processing relationships can’t handle, according to Ralph Dangelmaier, CEO of BlueSnap.
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Traditional institutions shouldn’t just develop stand-alone online banks on top of existing infrastructure. They’d be best served building these “parallel” banks from the ground up.
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More than 80% of bankers surveyed said they increased their tech budgets to invest more in security, data analytics and AI.
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The Dallas bank made some headway on its goal to slim down its multifamily loan portfolio, but $17 million in bad loans led to a bottom-line loss in the fourth quarter.
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The Long Island-based company, which is in the middle of a makeover, saw its stock price rise sharply after reporting a net loss that was less than what analysts expected.
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Russell Vought, should he be confirmed by the full Senate, would join a short list of those able to lead the CFPB, as his predecessor Mick Mulvaney did, per the requirements of the Vacancies Act.
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The Chinese startup roiled markets with its AI assistant, which appears to be a less expensive answer to ChatGPT. Banks have reasons to be cautious about this particular model but also to hope it will bring down AI's costs.
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The credit card issuer's earnings missed Wall Street estimates, but it reported improvement in sales, delinquencies and charge-offs. Management said unclear political direction and cloudy monetary policy could threaten an already conservative outlook for 2025.
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Numerous reports and lawsuits have criticized the health insurer for using algorithms to ramp up denials of coverage.
The Consumer Financial Protection Bureau issued a final rule that would allow banks to either charge $5 for overdraft fees. Alternatively they can charge a courtesy fee to cover costs, or charge higher fees but send annual percentage rate disclosures to the consumer. Bank trade groups sued the bureau to stop the rule.
The 23rd annual ranking of women leaders in the banking industry.
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