Organization Root Tag

The new rules on custodial account records could address the issues that the Synapse bankruptcy caused in the fintech world but also could complicate relationships between banks and fintech partners, experts say.

This week, Federal Reserve Gov. Michelle Bowman cast the first dissenting vote at an FOMC meeting in years. On Friday, she explained why the economic data she's seen didn't convince her of the need to cut rates as much as her fellow governors thought.

By enabling instant settlement for bank payments at checkout, the retailer is adding speed to an option that reduces card transaction fees. But getting consumer buy-in may be a challenge.

Consumer Financial Protection Bureau Director Rohit Chopra joins the Federal Deposit Insurance Corp.'s two Republican board members in opposing a revamped Basel III endgame proposal, leaving the future of the nascent plan uncertain.

Bharat Masrani, who's been at the Toronto-based bank's helm for a decade, will be succeeded by fellow TD executive Raymond Chun. One big question now is whether an insider or outsider would be better positioned to navigate the company through its AML troubles.

Racquel Oden, HSBC's head of wealth and personal banking in the U.S., talks about how to guide clients through a year of political and economic upheaval.

Though it has yet to result in any new voters being added to the rolls, SBA is seeking to expand an initiative that has drawn the ire of congressional Republicans, who fear the effort is aimed at boosting Democratic votes.

President Joe Biden, in a speech emphasizing the progress made on the economy during his administration, said he has never called Federal Reserve Chairman Jerome Powell during his time as president.

Apple's credit card business is up for grabs, presenting a chance to cross-sell financial products. But that opportunity comes at a cost.

In a new lawsuit, a former BMO employee says he was fired because he reported his concern that the bank was intentionally charging too much to clients who used a foreign-exchange product. BMO denies the allegations.

Policymakers signaled more reductions lie ahead, a development that could curb lenders' net interest income in the near term but support economic growth and credit quality.

Regulators in two countries are strengthening rules requiring banks and merchants to accept paper, while a majority of Canadian payments are now tap to pay.

The move signals the end of the Federal Reserve's battle against runaway inflation in the wake of the COVID-19 pandemic. Fed officials expressed divergent views on further action this year.

Jim Rourke and Michael Liu will serve as co-heads of private client partnership development, linking Bank of America's investment bank, Merrill and the firm's private bank.

As the 68-year-old CEO focuses on succession planning, here's a look at some of the longtime JPMorgan executives who could succeed him.

Tim Ryan, who joined the megabank in June, will work with COO Anand Selva to oversee enhancements to Citigroup's data integrity systems, according to a memo.

A new OCC action over the megabank's anti-money-laundering guardrails, which follows news of seemingly more severe lapses at TD Bank, is raising concerns that a broader crackdown is at hand.

Banks now have until Oct. 30 to weigh in on potential risks of third-party fintech partnerships for banking products and services.

The bank's acquisition of embedded finance firm Rize Money and collaboration with open banking firm Trustly will enable the bank to grow real-time processing, account-to-account transfers and address emerging compliance challenges.

The Canadian bank said it expects to recover hundreds of millions of dollars after a three-judge appeals panel found that it cannot be held liable in connection with a multibillion-dollar fraud. The ruling echoed a different appeals court's decision stemming from the collapse of Bernard Madoff's Ponzi scheme.