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Titi Cole, CEO of legacy franchises at Citigroup, is stepping down in June to pursue opportunities outside of the financial services industry.
May 15 -
Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.
May 15 -
All eyes are on the Federal Reserve as the wait for rate cuts continues. Steve Skancke, chief economic advisor at Keel Point, will discuss the Federal Open Market Committee meeting, the Summary of Economic Projections, and Chair Powell's press conference.
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Amex is working with Worldpay to reach businesses in the U.K., Western Union has resumed remittances to Cuba after shutting down that corridor in 2020, and more.
May 15 -
The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.
May 14 -
Regulation, credit quality and AI-fueled fraud are among the big concerns for banks and payment companies.
May 14 -
Part of the Consumer Financial Protection Bureau's mandate is to educate consumers by providing reliable information. With its credit card late fee "report" and the associated rulemaking, it has failed to live up to that responsibility.
May 14 -
The core provider's new CEO, Stephanie Ferris, vowed to refocus on banks as FIS reboots after selling off Worldpay.
May 13 -
Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
May 9 -
Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.
May 9