-
Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.
February 6
-
Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.
February 6
-
Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
February 6
-
Fintech and crypto groups said in comment letters to the Federal Reserve that the proposed "skinny" master account is too limited and could keep firms dependent on banks. Banking groups asked for more time to comment.
February 6
-
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
February 6
-
While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.
February 6
-
By pairing its real-time transfer app with China's UnionPay card, Visa is pursuing business in the huge country, where shifting regulations create hurdles for outside companies.
February 6
-
Two years on from a federal report recommending the creation of a resolution fund to guard against disorderly bankruptcies, concentration among nonbank mortgage companies has only increased. Congress must take action to avoid a crisis.
February 6
-
A group of Senate Democratic lawmakers warn proposed rule change would handcuff regulators from stopping risky bank behavior before it causes financial harm.
February 6
-
CEO Max Levchin said the lender is testing technology that allows merchants to perform more advanced testing of promotional financing offers.
February 5
-
Unlike some of its expansion-minded regional bank peers, Montana-based First Interstate is reconfiguring its business model to be smaller and more focused on relationship banking. The blueprint is the work of CEO Jim Reuter, who joined the bank 15 months ago.
February 5
-
Renat Abramov, a former relationship manager in Brooklyn, bypassed know-your-customer protocols to open accounts for shell companies involved in a $14.6 billion scheme.
February 5
-
Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.
February 5
-
The support from the stablecoin provider follows a string of tech firm acquisitions as Anchorage Digital broadens its crypto services.
February 5
-
Treasury Secretary Scott Bessent appeared to urge the crypto industry to deal with bankers in the yield stablecoin issue during his regular testimony in the Senate Banking Committee Thursday.
February 5
