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A dozen global transaction banks are now using the Society for Worldwide Interbank Financial Telecommunication's new global payments initiative service to improve cross-border payment delivery.
February 16
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Freddie Mac's net income increased to $4.8 billion in the fourth quarter, more than double what it earned a quarter earlier, the government-sponsored enterprise announced Thursday.
February 16
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The New York State Department of Financial Services is hoping to expand its authority to marketplace lenders, brokers, merchant cash advance companies and others that previously could operate in the state without a license.
February 16
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Yellen has good things to say about Volcker rule and CFPB, while Tarullo backs tighter reins on big banks; Trump said to be considering Mnuchin deputy as Comptroller of the Currency.
February 16
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The Consumer Financial Protection Bureau is seeking feedback on the benefits and risks of using alternative data sources, such as rent or utility payments, that would allow lenders to build a credit history for unbanked consumers.
February 16
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As American Express and Citigroup clashed over which issuer would get the coveted Costco Warehouse credit card business, one area remained undisputed and out of their hands: Payment processing for Costco's small business clients.
February 16
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If Washington lowers taxes as much as banks and the rest of corporate America hope, it will yield a bonanza of earnings per share, new tech investments or investor dividends … right? Not exactly, bank leaders warn.
February 15
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The Basel III capital requirements are making it hard for banks to stay in the servicing business, said David Motley, president of Colonial Savings. Their exodus from the market indirectly hurts consumers, he argued.
February 15
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Some fintech firms are flatly rejecting the Office of the Comptroller of the Currency's creation of a charter for such firms, citing fears that it will come with too many strings attached.
February 15
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Billionaire investor Carl Icahn reduced investments in PayPal Holdings Inc., Nuance Communications Inc. and Freeport-McMoRan Inc., according to a regulatory filing Tuesday.
February 15
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The San Francisco online lender reported a $32 million loss in the fourth quarter, which brought red ink for the full year to $146 million.
February 14
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PayPal has agreed to acquire TIO Networks, a Canadian company that sells software that powers bill payment processing, particularly for underbanked consumers.
February 14
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More and more banks are using advanced geographic information systems to help make decisions around branch consolidation, lending in low-income communities, monitoring fraud and even deploying talent.
February 14
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The cards could prove to be popular with Americans who travel frequently to Asia.
February 14
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Jan Owen, California's commissioner of business oversight, on Tuesday invited representatives of 13 fintech companies to a "frank, constructive dialogue" on the obstacles they face with state licenses.
February 14
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Sri Lanka-based Bank of Ceylon (BOC) is expanding its relationship with Mastercard by adopting Mastercard Integrated, a configurable payments processing platform introduced last year in Asia enabling card issuers and acquirers to tailor the features of a broad range of payment products.
February 14
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The Cleveland company has tapped Jamie Warder for the senior-level post.
February 13
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Regional banks don’t pose risks to the financial system that have caused concern among policymakers, executives of 18 banks told top Republican and Democratic lawmakers in Congress.
February 13
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JPMorgan Chase and Wells Fargo are among the large institutions that are making fewer car loans amid intense price competition and concerns that lenders are at risk of bigger losses.
February 13
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The Toronto company will add as many as 75 small-business bankers in several of its key U.S. markets.
February 13
