Daily Edition

The growing buy now/pay later industry requires regulations, but existing regulations for credit card lenders are not fit to the purpose. BNPL needs bespoke guidelines to protect consumers.

The turmoil at New York Community Bancorp resumed Thursday with the departure of CEO Thomas Cangemi. The embattled regional bank, which also recorded a $2.4 billion goodwill impairment charge and disclosed other new problems, saw its share price plunge.

The Toronto bank has been under investigation by U.S. and Canadian supervisors for alleged shortcomings in anti-money-laundering compliance. CEO Bharat Masrani pledged "comprehensive enhancements" but declined to pinpoint the exact fixes and their costs.

In a 31 to 20 vote, the House Financial Services Committee voted to advance a resolution disapproving of a Securities and Exchange Commission accounting bulletin that banks say would undercut their ability to custody crypto.

A mixed-race couple claims a "whitewashed" valuation in 2023 returned a price 39% higher than the depository-approved result a year earlier.

A consortium of banks focused on cybersecurity has published a series of white papers aimed at navigating the challenges and opportunities of AI in the financial sector.

Research from J.D. Power found that bank customers are most concerned about letting AI move money on their behalf or place a barrier between them and their money.

The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.

The Consumer Financial Protection Bureau provided guidance about digital intermediaries and lead generators that accept payments to steer borrowers to financial products.

According to a new study, pig-butchering scammers have likely stolen more than $75 billion from victims around the world.

The Swedish lender says the use of generative AI hasn't affected headcount. But it has also said previously that AI would impact its own hiring decisions.

Citing missed deadlines for an annual meeting and key regulatory filing, the Norcross-Braca group has called off a plan to invest $35 million in the Philadelphia bank.

The latest inflation news has created concern that the Federal Reserve's pivot on short-term rates could be delayed.

Canadian Imperial Bank of Commerce benefited from growth in its domestic retail business even as it set aside more money than analysts expected for potentially sour loans.  

The proposed capital rule risks driving borrowers away from the traditional banking industry and into the arms of shadow banks, whose support during stressful times can be fleeting.