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Junk bonds made Michael Milken the most important and richest person on Wall Street. But they caused many large thrifts to fail. Had he listened to his professors and pursued his Ph.D. in 1970, his legacy might have been different.
August 11
K.H. Thomas Associates -
The Consumer Financial Protection Bureau has proposed reducing supervision of all but the largest nonbanks in four key markets: auto financing, consumer credit reporting, debt collection and international money transfers.
August 8
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The Consumer Financial Protection Bureau has been investigating the failed banking-as-a-service fintech and is preparing to file a complaint accusing it of unfair acts or practices.
August 8
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Revenues were up for the quarter, but stock compensation-related expenses brought the neobank to a negative net income.
August 8
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In this week's banking news roundup: Fulton Financial's Angela Snyder announces plans to retire as president of the Lancaster, Pennsylvania-based bank; Columbia Banking System in Tacoma, Washington, finalizes plans for its latest acquisition; Flagstar Financial opens its first private banking office in Florida; and more.
August 8
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The security problem affects organizations with a hybrid Exchange environment, running applications in both on-premises servers and Microsoft's cloud.
August 8
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The ranking Democrat on the Senate Banking Committee said growing uncertainty and risks in the financial system mean the central bank should increase the countercyclical capital buffer for the nation's largest lenders.
August 8
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As the payment technology company diversifies revenue streams, buy now/pay later was a key driver in beating analysts' estimates for Marqeta's second-quarter earnings.
August 8
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Slashing capital requirements for the largest banks shows where the Federal Reserve's priorities lie — and it's not with community banks. This will make it even harder for small banks to compete with their larger peers.
August 8
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The personal finance app provider is working to block AI crawlers from the search giant and large language model providers from accessing much of its website.
August 8
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The payment company increased its financial outlook, partly on the shoulders of new forms of artificial intelligence, such as "codename goose" that are making it possible to update products faster.
August 7
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President Trump said Thursday that he will nominate Stephen Miran, who currently serves as chair of the White House Council of Economic Advisers, as the next member of the Federal Reserve Board of Governors. Miran is a key architect of President Donald Trump's tariff policy.
August 7
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President Trump's imposition of sweeping tariffs on more than 90 countries Thursday represents a major shift in the U.S. trade stance, but the impact on inflation, the Federal Reserve and the economy are still unclear.
August 7
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The executive order tells banking regulators to examine banks for signs of politically motivated account denials.
August 7
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We've just lived through a repeat of Operation Chokepoint, the federal effort to deny banking services to disfavored companies and individuals. We must know the full story so it can never happen again.
August 7
