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U.S. banks reduced their holdings of state and local government bonds for the first time since 2009 after the federal government slashed corporate tax rates, according to figures released by the Federal Reserve Thursday.
June 7
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Acting CFPB Director Mick Mulvaney wrote in a two-paragraph filing that the Mount Laurel, N.J., company did not violate the Real Estate Settlement Procedures Act.
June 7
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While the 'buy button' is designed to benefit merchants, issuers and the card networks alike, merchants may not be willing to risk any tradeoff in their access to customer data.
June 7
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The firm graded bank and credit card apps on customer satisfaction, appearance, navigability, and availability and clarity of information.
June 7
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The panel will vote on economist Richard Clarida to be vice chairman of the Fed board and Michelle “Miki” Bowman to take a seat designated for a community banking expert.
June 7
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The bank’s joint initiative with CFSI awards capital to firms trying to address issues that the startup teams personally experienced.
June 7
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Robert Broeksmit, a career mortgage industry executive, will succeed David Stevens as the president and CEO of the Mortgage Bankers Association.
June 7
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Warren Buffett and Jamie Dimon are doubling down on their plea for corporations to stop providing quarterly earnings guidance.
June 7
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While credit unions posted strong lending numbers and growth stats, the overall number of federally insured credit unions continued to decline during the first quarter of 2018.
June 7
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A popular AI open-source platform with bank investors is being combined with IBM hardware and Nvidia processors in the hopes of creating high-speed, “driverless” AI.
June 7
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Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks.
June 7
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Following the path paved by the checkout-free Amazon Go concept, the newly merged Albertsons and Rite Aid are developing their own technologies for faster and more efficient checkouts.
June 7
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At American Banker’s Digital Banking conference in Austin, industry leaders wrestled with philosophical questions about artificial intelligence and the rapidly evolving expectations of customers.
June 6
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The agency has no plans to release general findings from an extensive review of sales practices at large and midsized banks. That's troublesome, and will only fuel the perception that it is too cozy with the institutions it regulates.
June 6
American Banker -
The bill is one of two SBA-related measures the Senate approved late Tuesday and sent to President Trump to sign into law.
June 6
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Citizens Financial Group is partnering with IBM to develop a virtual career coach that will use artificial intelligence to help employees set career goals and determine what kind of training they need to develop new skills.
June 6
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Mastercard is working with Starling Bank as its strategic partner to settle funds sent within the U.K. through its Mastercard Send service.
June 6
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With comment periods quickly closing, responding to the agency’s abundant requests for information is proving a logistical hassle for the industry and consumer advocates.
June 6
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The Consumer Financial Protection Bureau fired all 25 members of the agency's Consumer Advisory Board during a conference call Wednesday, saying it wanted to bring in more diverse views.
June 6
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Acting Consumer Financial Protection Bureau Director Mick Mulvaney is poised to dismiss its administrative proceeding against the mortgage lender, following a four-year battle over the agency's structure.
June 6
