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Major nonbank financial trade groups asked Treasury Secretary Bessent to scrap 2023 guidance expanding nonbank designations, citing cost and competitiveness concerns.
July 14
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Increasing community bank and credit union adoption is a key pillar of the P2P payment network's strategy as it looks to increase its network effect and penetrate into small-business payments.
July 14
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Calls for applications for a bank-specific program within the Community Development Financial Institution Fund have been delayed, raising the possibility that those funds are unspent before the appropriated money expires.
July 14
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A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
July 11
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The nation's largest bank is planning to implement fees for access to data that has traditionally been provided free of charge. Data aggregators and fintechs accused JPMorgan of exploiting regulatory uncertainty and raising prices for consumers.
July 11
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Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.
July 11
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The buyer said its $70 million cash-and-stock deal for Farmers State Bank will boost its presence in the northeast section of Ohio, and provide plenty of low-cost deposits
July 11
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Cyber firms are teaming up with cloud providers to build faster, smarter AI-powered defenses.
July 11
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Historically high interest rates and falling late-payment rates suggest that credit card issuers are tightening their underwriting standards amid economic uncertainty.
July 11
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Connecticut has set strict new rules for EWA providers; Louisiana's regulation is more aligned with existing state laws.
July 11
