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Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.
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The Ohio bank, which has been releasing more information about its Scope 3 emissions, promised to take steps with customers and suppliers to reduce their collective impact on climate change.
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The Charlottesville, Virginia-based bank, which called off a merger this year after regulators raised concerns, said it "continues to cooperate" with the Office of the Comptroller of the Currency to improve its management of fintech partnerships.
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The 2012 order, which came alongside fines to U.S. authorities totaling nearly $2 billion, had sullied the London-based bank's reputation. "Over the last decade HSBC's employees have worked hard to transform the bank's financial crime risk management capabilities," HSBC says.
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Participants include Digital Asset and Ripple alongside others involved with foreign central bank digital currencies. The program is set to begin next month.
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With taxpayer dollars and creative deals, these nonprofit funding institutions can help recruit private-sector capital off the sidelines and into underserved markets, leveraging as much as $8 in private funding for every $1 that comes from the government.
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The reduction in banks' assessments marks the fourth time in four years that the OCC has cut the semiannual regulatory fees that fund supervisory work.
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Standard Chartered's joint venture with an arm of Singapore's biggest trade union group started digital banking services in the city-state, adding to rivalry in the space where tech giants are also seeking to make their mark.
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Marcus and Upstart are two companies that got high marks for customer satisfaction from J.D. Power but rely on digital methods to reach and underwrite borrowers.
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Celsius Network, the bankrupt cryptocurrency lender, is seeking to give coins back to a sliver of users who are locked out of their accounts.
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