Daily Edition

The fintech industry has introduced unprecedented new levels of competition in the financial services sector. The Consumer Financial Protection Bureau's new proposed rules would stifle it.

Machine learning has a firm place in banks' fraud and scam detection work. But some are also experimenting with using generative AI to research and handle claims.

The Boston-based custody bank will place deposits at Carver State Bank, Citizens Trust Bank and Ponce Bank as part of its broader effort to help reduce the wealth gap. State Street plans to place a total of $100 million of deposits at minority depository institutions this year.

As she prepares to leave to run a nonprofit after three decades in the industry, Cole said the financial services sector is better for women — but still has a long way to go.

The White House is preparing to pick Christy Goldsmith Romero, a top US derivatives regulator, to lead a revamp at the Federal Deposit Insurance Corp., according to a person familiar with the matter.

WealthMeUp, an app that educates users on investing and other financial concepts, eventually wants to turn users' cash-back into investing dollars.

The $684 billion-asset institution adopted the family finance fintech's app and linked debit cards to provide account holders with tools for educating their children about the financial system.

Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.

Illinois' recent move to prohibit the inclusion of taxes and tips in credit card interchange fees suggests that electronic transactions are too expensive and also that there are too many entities working unilaterally to reduce those costs.

Dickinson Financial in Missouri has no intention of departing from its expansionary mindset as it lays plans for de novo branches and scouts new acquisition opportunities.

PayPal has brought on expert pitchmen from Uber and Plaid to build an advertising platform for merchants. Its rivals are on a similar path.

Nearly 20 years ago, the SEC made business development companies subject to an obscure reporting rule that pushed them out of major index funds. Reversing course would be a major boon to small businesses.

Late payments, which have been on a steady rise since 2021, are now climbing at a slower rate or even declining at some major card issuers. Risks remain, but there's 'reason to be cautiously optimistic," one analyst said.

An interchange provision included in Illinois' budget bill could force banks and payment processors nationwide to revamp their payments infrastructure, lobbying groups for the industry say.

A scheduling conflict will prevent Federal Deposit Insurance Corp. Chair Martin Gruenberg from attending a House hearing on workplace misconduct allegations despite ongoing GOP scrutiny and prior calls for his resignation.