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The plan still lacks concrete details about standards banks must meet to earn high ratings, but the agency said the new methodology would end grade inflation and could penalize banks that underperform.

CEO Wendy Cai-Lee says Piermont Bank can do it all for financial technology firms: be their commercial banker, be their banking-as-a-service provider and develop APIs and other cutting-edge products for them.

The group is just the latest industry organization to already alter plans for a gathering scheduled for 2021.

The Trump administration has compelled the Federal Reserve to shut down the Main Street Lending Program and other facilities that aid banks’ pandemic relief efforts, but President-elect Biden’s Treasury nominee could help turn the spigot back on.

The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.

Big banks and other financial firms predict the cost of warding off cybercriminals will keep climbing in 2021 as they work to secure digital financial services popularized by the pandemic.

Shawn Rose, chief digital officer, and Holly Pontisso, vice president of customer experience at Scotiabank at Toronto, share how they have adapted their digital offerings for people over 50, including making sure ageist attitudes don’t creep into digital channels or messaging.

Current economic conditions are greatly tied to controlling the spread of the coronavirus. To survive this volatile situation, financial institutions must be resilient.

The number and type of channels for customer support are exploding – with Facebook Messenger, Apple Business Chat, and WhatsApp Business among the most recent additions. And channels are evolving, says Genpact's Jason Osborne.

In the push to get millions of cash-based micro- and small-business merchants to go digital, the two largest card networks are getting a boost from contactless payments' global surge.