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The prepaid card firm and banking-as-a-service provider extended its contract with its largest BaaS client in Q2 despite a July consent order from the Federal Reserve.
August 8
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Visa, which leans on sports festivals to showcase emerging shopping and checkout features, says contactless transactions from travelers have jumped during the games.
August 8
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The three banks recently named new executives to oversee their technology teams.
August 8
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Shawn Stone, the new CEO, has more than 25 years of experience in online loan origination, loan servicing operations, credit and capital markets.
August 8
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The 30-year fixed rate loan was down 26 basis points as investors reacted early in the week to the employment numbers, according to Freddie Mac.
August 8
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Air Canada was penalized for misinformation generated by its chatbot; Patagonia has been accused of letting a vendor's AI model analyze customer service conversations without consent. These cases have parallels in banking, where many institutions use AI-based chatbots and contact center software.
August 8
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The Federal Reserve Board issued an enforcement action against Customers Bank, citing compliance deficiencies related to its digital asset strategy and instant payments network.
August 8
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The stock swoon of early August, however, raises red flags and could delay an anticipated rise in loan demand for banks in need of stronger interest income, analysts caution.
August 8
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The Federal Housing Finance Agency wants to update the dual mission of the Federal Home Loan Banks. Members of the private bank cooperative say their regulator has no authority to redefine the mission.
August 8
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The Federal Deposit Insurance Corp.'s focus on implementing stricter control over brokered deposits is misguided, a former chairman on the agency writes, and misses the real lessons of 2023's bank failures.
August 8
