The Federal Reserve's Federal Open Market Committee will announce its interest rate decision at 2pm, followed by a press conference with Federal Reserve chair Jerome Powell. Markets are expecting a 25 basis point rate cut at today's meeting.
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A new, free leaderboard created and continuously updated by the Kensho team at S&P Global gives people in the financial industry a sense of which generative AI models work best for specific use cases.
April 4
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The Federal Reserve, historically a secretive and isolated institution, has made a concerted effort to explain itself to and be understood by the public since 2008. But try as it might, the central bank is still viewed by many as an enigma, if not an enemy.
April 4
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The credit and debit card-issuing giant's Chase Media Solutions will help fund new loyalty programs to offset downward pressure on card-swipe fees and the potential erosion of card spending volume from the rise of faster payments and open banking, experts say.
April 4
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The decision to approve the fintech's application to make 7(a) loans came nearly a month after Funding Circle's U.K.-based CEO hinted it is considering a sale of its U.S. operations, alarming some members of Congress.
April 4
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The federal agency's director said Wednesday that regulators were working to refocus bank merger evaluations on community impact.
April 3
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A year ago, the National Community Reinvestment Coalition accused KeyBank of redlining. On Wednesday, the NCRC and Key announced a $25 million "agreement" that NCRC CEO Jesse Van Tol says could open the door to a new community benefits plan.
April 3
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Letitia James, the New York state attorney general, sued Citigroup and argued it should be liable for fraud cases involving consumer wire transfers. But Citi said the AG's view would bring about a "sea change in banking law."
April 3
The plea agreement, which includes a fine of more than $1.4 billion, penalizes TD for systemic money laundering violations. "We have the ability to profit, and we should be able to profit, but not at the expense of the law," said U.S. District Judge Esther Salas.
The Federal Reserve's Federal Open Market Committee will announce its interest rate decision at 2pm, followed by a press conference with Federal Reserve chair Jerome Powell. Markets are expecting a 25 basis point rate cut at today's meeting.
Big banks with the strongest financial performance varied in asset size, geographies and services.
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
Daniel Steadman is the Vice President of Underwriting and Program Development for
FICO's wholesale royalty will be $4.95 per score for mortgage originations, it announced. That's up from $3.25, which is the current cost of a mortgage credit score.
The Federal Reserve's Federal Open Market Committee will announce its interest rate decision at 2pm, followed by a press conference with Federal Reserve chair Jerome Powell. Markets are expecting a 25 basis point rate cut at today's meeting.
Daniel Steadman is the Vice President of Underwriting and Program Development for
FICO's wholesale royalty will be $4.95 per score for mortgage originations, it announced. That's up from $3.25, which is the current cost of a mortgage credit score.
Alan Childs pleaded guilty to using straw borrowers and falsified loan records to help a timber businessman secure millions in fraudulent loans.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
- Richard Cordray, the first director of the Consumer Financial Protection Bureau, says the Trump administration seems intent on shutting the agency down, even though it has a legal mandate to exist.Sponsored by IntraFi
- Crypto-as-a-service, stablecoins and tokenized deposits all present opportunities for banks, according to Nathan McCauley, co-founder and CEO of Anchorage Digital.Sponsored by IntraFi
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The company has long been criticized for its lagging financial performance and its complexity. CEO Jane Fraser is pushing through Citigroup's most recent transformation plan, but will she succeed where her predecessors have failed?
April 7
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The Long Island bank is trying to come back from a month-long spiral that sunk its stock price some 80%.
April 5
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In a study posted weeks after it raised concerns about "junk fees," the Consumer Financial Protection Bureau noted that the amount of borrowers paying discount points doubled from 2021 to 2023, with the increase larger among consumers with lower credit scores.
April 5
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The $12.1 billion-asset DCU launched the loan platform in 2022, and has seen volume jump by close to $600 million from when talks began in 2019 to last year.
April 5
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First Busey closes acquisition of Merchants and Manufacturers Bank; Stax co-founders launch a new credit-scoring tool; UMB's marketing chief takes on consumer banking; and more in the weekly banking news roundup.
April 5
