Application programming interfaces allow software programs to talk to each other. They are a potential solution to the current industry standoff over sharing of bank customer data with aggregation sites; in the long term, they could transform how banking is done, making customer relationships less sticky but opening up new revenue models for financial institutions. This paper lays out the basic issues surrounding APIs.
First Guaranty in Hammond Louisiana agreed to a consent order with federal and state regulators that's aimed at improving its credit quality.
With retail investors projected to allocate $2 trillion into private equity, credit and similar investments over the next five years, asset managers are increasingly acting as a bridge to previously exclusive opportunities.
New York City's new pied-à-terre tax is prompting financial advisors to help wealthy clients reassess their options, from residency status to estate plans.
One of three Federal Open Market Committee members to vote for a higher federal funds rate last month, the Cleveland Fed president is undeterred by the labor force decline in July.
As more traditional financial institutions turn to short-term liquidity offerings to meet growing consumer demand, legacy earned wage access providers are hoping to get their products in front of more employers – and their employees.
The agency will give qualified new-bank applicants a contingent authorization within 120 days of applying, with an additional year after that to organize the bank before final green light.
