Tech giants such as Google and OpenAI are pushing to bring commerce and checkout into their platforms. But for many merchants, solving the question of how payments fit in is less of a priority.
One of the best early bitcoin companies, Blockchain survived a period marked by scandals and shutdowns to become a market leader and attract new investment for expansion.
-
New York AG Letitia James is suing the earned wage access companies for charging illegal, high-interest loans that would have wide-ranging implications for EWA providers. DailyPay last week filed a countersuit against James's office.
-
A federal judge in Texas found that the Consumer Financial Protection Bureau had violated the CARD Act by barring banks from charging late fees for credit cards.
-
Experts say transaction growth is OK now, but the next year will be fraught with risk.
Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation.
-
The Ohio regional will start offering advisory services to professional athletes after it buys Franklin Street Partners.
-
Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.”
-
Since John Turner took over as CEO in July, Regions has announced several executive appointments, including promoting Kate Danella to oversee strategic planning.
-
The Department of Housing and Urban Development and Federal Housing Finance Agency, which supervises Fannie Mae and Freddie Mac, formed a pact to share information and coordinate investigations of potential fair-lending violations.
-
The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.
-
The expanded credit access in its automated mortgage decisioning goes into effect in mid September.
The Pittsburgh bank has been looking for the right target to acquire at the right time. But top company executives said Tuesday that deals are likely off the table in the near term because of uncertainty about the direction of tariff policy and interest rates.
The Consumer Financial Protection Bureau initiated a new rulemaking process for its open banking rule with a focus on who can serve as a representative for the consumer and whether banks can charge fees to third parties for consumer data.
-
The OCC's new Vital Signs initiative gives bankers an important tool to help them assess the financial health and stability of their customers, and to help them build a strong foundation for the future.
-
The focus should be on the millions of Americans whose credit reports contain serious errors, and who are increasingly desperate for relief.
-
With the line between banks and fintechs growing ever blurrier, financial services supervisors ought to consider adjusting regulation to fit the kinds of activity an institution is engaged in.
-
MUFG Securities Americas is designated a primary dealer by the New York Fed; Founders Bank appoints Chris Lipscomb its senior vice president and chief lending officer; the Independent Community Bankers of America names Charles Yi senior executive vice president of government relations; and more in this week's banking news roundup.
-
The Huntsville, Alabama-based regional bank is well positioned to defend its Southeast footprint, according to CEO John Turner. It's hiring more bankers in growth markets, it has strong brand recognition and it has a long history in its core markets, he said.
-
Warren, Wyden, Whitehouse, Welch and Schatz say the administration's memo contradicts public statements, and they want more answers on whether the administration is working with top U.S. banks to funnel money out of the South American nation.
-
White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue "Trump cards" with 10% rate caps, a move that could quell Congress' moves to impose a cap through legislation — but that's no guarantee.
-
"We're coming into your market," PNC Chief Executive Bill Demchack said Friday. "If you're not coming into our market to come fight us, we're coming to your market to come fight you, and we're going to get some percentage of your market."
-
During the fourth quarter, the Buffalo, New York-based bank reported its lowest ratio of nonperforming loans to total loans since 2007.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
The megabank's net income declined by 13% during the fourth quarter as a result of a $1.2 billion pretax loss on sale related to the divestiture of its remaining operations in Russia.
The Federal Reserve announced it had approved the merger, marking the final regulatory hurdle the banks needed to clear. But a lawsuit seeking to stop the deal is still ongoing.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from Ren
-
Sponsor Content from Kyndryl -
Partner Insights from Alkami -
Sponsored by IntraFi
