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Federal Reserve Chair Jerome Powell says crushing inflation is the most important thing the Fed can do to reduce costs in the housing market. Some economists and policy specialists say higher rates are not the only tool at its disposal.
June 14
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Statewide Federal Credit Union in Flowood used its partnerships with Bankjoy and Strum Platforms to identify untapped communities in its field of membership and aggressively market its inaugural high-yield savings account.
June 14
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The threat actor Sp1d3r posted an ad for the stolen data on Wednesday. Truist said the October breach is not related to a campaign by the same criminal group.
June 14
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BNY, the country's oldest bank, drops "Mellon" from its branding; Apple FCU announces plans to merge with NextMark Credit Union; Moelis probes incident after a video circulated online shows one of its senior bankers appearing to punch a woman; and more in this week's banking news roundup.
June 14
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The Federal Reserve Board and the bank itself say the enforcement action is the result of a routine inspection, but it comes amid the fintech's complicated high-profile bankruptcy.
June 14
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The card network has developed a digital approach to delivering disbursements for disaster relief and other purposes via mobile devices, without requiring a separately downloaded app.
June 14
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IntraFi has joined two banking industry trade groups spearheading an effort to source large institutional deposits at small, cash-starved CDFI and MDI banks.
June 14
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The company's shareholders are ill-served by its large investments in fossil fuel projects that both damage the environment and present major financial risks.
June 14
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Bankers still mostly back Republicans, according to Federal Elections Commission data, but the Biden administration is centering its pitch for support on the economy, regulatory stability and promising higher taxes for the wealthy and corporations.
June 13
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PNC has cut its credit card late fees to $8, and Wells Fargo has eliminated the charges on one new card. The moves signal that issuers are already adjusting to a CFPB rule that's currently on hold amid a court challenge.
June 13
