Organization Root Tag

An “emergency merger” with the troubled Progressive Credit Union gives PenFed — already the nation’s third-largest credit union — the ability to welcome any potential member nationwide.

The central bank chairman said Friday that he would not step down if asked to do so by the president, adding that he has not received any direct communications from the White House about the agency’s interest rate policy.

Sens. Kevin Cramer, R-N.D., and Martha McSally, R-Ariz., will fill the two GOP vacancies in the new Congress.

The SEC and FASB control the process now, but Congress should give banking regulators a more central role in overseeing the creation of accounting rules.

An “emergency merger” with troubled Progressive Credit Union gives PenFed – already the nation’s third-largest credit union – the ability to welcome any potential member nationwide.

The accounts — which eschew paper checks and overdraft protection — appeal beyond the low-income customers they were intended for; lenders are embracing artificial intelligence systems to analyze more data to determine creditworthiness.

The payments process isn’t about just checking a box or signing a check anymore; it’s about cultivating genuinely beneficial relationships for all involved that build trust and drive growth, writes Ravi Thakur, senior vice president of business acceleration at Coupa.

The technology does not yet exist, but in the not-too-distant future it could fundamentally transform how many organizations do business.

Square Inc. named Activision Blizzard Inc. executive Amrita Ahuja as chief financial officer, replacing Sarah Friar, who stepped down from her role as Jack Dorsey’s No. 2 at the digital-payments company last month.

The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent.

Industry trade groups, which have been active in fighting lawsuits that allege violations of the Americans with Disabilities Act, hailed the decision.

Executives from Microsoft and other firms will expand PNC's board to 14 members.

Citi wants to attract credit card customers who use its card for staples such as groceries and gas — a pivot from its past of marketing to the social butterflies who would use its cards on dining and entertainment.

Last year, Microsoft Corp.’s Azure security team detected suspicious activity in the cloud computing usage of a large retailer: One of the company’s administrators, who usually logs on from New York, was trying to gain entry from Romania. And no, the admin wasn’t on vacation. A hacker had broken in.

The agencies are weighing a plan to reduce the scope of residential real estate transactions requiring an appraisal, but appraisers have warned that the proposal could have consequences.

The Office of the Comptroller of the Currency advanced the ball last year by collecting public feedback on modernizing the law, but all three federal bank regulators will have to reach consensus on a formal proposal.

In her New Year’s message, CFPB Director Kathy Kraninger called on the agency to ensure that consumers are treated fairly and that “the marketplace is innovating.”

Both CUNA and NAFCU have responded to the bureau's request for input by raising concerns about cybersecurity, public complaints and more.

Facebook’s WhatsApp unit has been testing its payments app in India since May; investors price in an almost a 90% probability of no Fed hikes this year.

Bank portfolios are chock full of loans to industries — think agriculture, tourism, real estate and energy — that could be particularly hard hit by warming temperatures. Some large banks are engaging in "scenario analysis" to mitigate the risk.