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Sen. Richard Blumethal, D-Conn., chair of the Senate Permanent Subcommittee on Investigation, asked bankers whether the Electronic Funds Transfer Act should be updated to include scams that involve authorized fund transfers.

A federal judge recently rejected an agreement on transaction fees, ensuring that a multi-year battle between the credit card companies and merchants will continue. Ryan McInerney vented during Tuesday's earnings call.

Old National Bancorp's earnings remained strong as it continued its expansion into the southeast with its recent $344 billion acquisition of CapStar. Executives said they foresee similar growth for the remainder of the year.

Witnesses from companies across financial services and housing, including a credit union and a core services provider, attested to the value of AI in fighting fraud and boosting customer service at a hearing in the House of Representatives.

The Northeast regional bank missed expectations on net interest income and negatively revised much of its 2024 guidance.

The Government Accountability Office reviewed a decade worth of capital and liquidity reforms, including changes to the Federal Reserve's stress testing regime.

The credit card giant increased its allowance for credit losses by more than $800 million following the termination of a partnership with Walmart.

Federal Trade Commission Chair Lina Khan said the "firms could be exploiting" personal data about customers to charge them higher prices.

Vice President Kamala Harris has kept a low profile in banking policy, and there is a reasonable expectation that her administration would pick up where Biden left off. But if she wanted to, Harris could reset Democrats' financial policy agenda.

The Oklahoma-based bank also struck an upbeat tone on economic conditions and credit quality after it reported a sharp quarter-over-quarter increase in net income.