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Federal Deposit Insurance Corp. Chair Martin Gruenberg said an FDIC study proves relationship-driven lending practices remain crucial to small-business lending and economic stability, despite technological advancements in the banking industry.
October 2
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In a six-month pilot, NatWest and Metro Bank shared with Meta 185 URLs connected to scams, enabling the platform to take down 20,000 accounts.
October 2
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The European legislation prohibits or curtails what it deems to be risky usage of artificial intelligence. Banks will be caught in its net if they provide or deploy such AI systems in the EU.
October 2
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The U.S. card brands plan to acquire European firms for security and subscription payments, while Bank of America seeks new markets for its virtual B2B business and JPMorgan Chase's blockchain unit gains ground.
October 2
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As part of a wide-ranging speech on community bank oversight, the Federal Reserve governor said business models should determine regulatory scrutiny rather than asset size.
October 2
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Many people are jumping on the AI bandwagon without asking the most basic questions. FICO Chief Analytics Officer Scott Zoldi, who holds a Ph.D. in theoretical and computational physics from Duke University, has been in the business long enough to see the warning signs.
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New Canaan-based Bankwell's digital solution relies on software designed by Lendio to compress the application-to-funding interval and appeal to speed-conscious small-business owners.
October 2
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The state's ill-conceived law banning interchange fees on sales tax and gratuities will be burdensome and expensive to implement and could portend a patchwork of state-level copycat legislation that would balkanize the payments system.
October 2
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The Miami-area bank long ago exited New York and has plans to leave Texas, as CEO Jerry Plush expands its footprint in the Sunshine State. The shift comes as the bank, which competes in Florida with many out-of-state banks, is set to cross $10 billion of assets.
October 2
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The top five credit unions have combined first mortgage loans and lines of credit of more than $104 billion as of June 30.
October 2
