JACKSONVILLE, Fla. – Fidelity National Information Services, the credit union and bank outsourcer spun off from Fidelity National Title last year, reported it will take a $27.3 million charge in the first quarter in relation to the refinancing of $3 billion of unsecured debt. The new credit facilities include $900 million of revolving credit and a $2.1 billion, five-year loan. The initial term of the loan is 1% above LIBOR.
Banks must plan to support decentralized finance without disturbing their existing businesses. That's easier said than done.
The Treasury's financial crimes enforcement wing proposed a rule Monday that would incentivize whistleblowers to come forth with information that could assist in cracking down on scams, fraud or money laundering, at a time of heightened geopolitical risk.
Federal Reserve Chair Jerome Powell said the central bank is cautiously monitoring consumer sentiment as tensions from the Iran war push energy prices higher, complicating efforts to bring inflation down to the Fed's target.
Can banks win at agentic commerce? What's next for real-time payments? And where are mobile wallets headed? The industry's top experts will dive into these issues at American Banker's Payments Forum from May 4-6 in San Francisco.
The nation's second-largest bank agreed to the massive settlement to avoid a looming trial in May over accusations that it enabled suspicious, multimillion-dollar transactions — including a staggering $170 million payment from the former Apollo CEO Leon Black — to Epstein.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
