Virtual Money Inc. of Dallas, a prepaid card provider and money transmitter, signed a pricing agreement with the Transnational Institute for Grassroots Research and Action, an immigrant advocacy group that has organized a boycott of Western Union Co.
The group, also known as Tigra, said the agreement, announced Friday, would lead to fair pricing for remittance services and increased community reinvestment.
Cathy Bessant, who was Bank of America's vice chair of global strategy when she retired, is joining Truist's board of directors and will sit on the company's risk committee. Bessant was American Banker's Most Powerful Woman in Banking for three consecutive years.
The Trump administration's Consumer Financial Protection Bureau has quietly scrubbed over a decade of consumer guidance and public records from its website.
Segmenting the landscape: How legacy core, money service businesses and stablecoins divide cross-border value
An employee uploaded customer data to an unauthorized AI app. The bank says it reached the vendor before a model could train on the data.
Brian Moynihan spoke of the challenges of developing and maintaining Erica, the bank's main internal AI model, with precision.
Payment experts detail where banks are falling short in combating AI-driven crimes.
