Organization Root Tag

His comments came a day after the Fed announced it had formally joined an international network of central bankers and regulators focused on mitigating climate risk to the financial sector.

The percentage of seriously delinquent loans hit 5.8% in the third quarter, up from 1.5% a year earlier but down from 6.8% in the second quarter.

The agency’s second in-depth study of the community banking sector pointed to continued challenges for local institutions from the pandemic and other headwinds, but many smaller banks are reaping the benefits of M&A and holding their own against larger competitors in key lending categories.

Roddy has worked at JPMorgan for more than two decades. He replaces Rob Holmes, who recently left the company to join Texas Capital Bancshares as CEO and president.

Citigroup will soon offer workers the ability to take a 12-week sabbatical as part of a bevy of new employee perks in the wake of the coronavirus pandemic.

It isn't lost on Fiserv that consumers increasingly are moving to digital financial services. Its deal to acquire Ondot Systems, a digital card solutions platform, aims to capitalize on the shift.

The digital-only bank is running a new promotion in which it will set up and fund, with $250, an online savings account for any baby born on New Year’s Eve.

As with most things related to 2020, COVID-19 will be a deciding factor as the Federal Reserve considers whether banks are able to increase their dividends or resume share buybacks.

Using imaging, hyperlinks and other technology can enhance the response to payment disputes, says Chargehound's Pallavi Kuppa-Apte.

Bank of America is extending pandemic benefits for employees who need child or adult care services.

Federal banking agencies want to give the industry a hard deadline for notifying their regulators about serious security breaches and failed system upgrades.

Fifth Third is partnering with Provide and Panacea Financial works with Sonabank in Virginia to meet the specialized needs of medical professionals who own their own practices.

The revamp of the brokered deposits framework offers relief to banks and their partners that saw the prior rule as outdated. Meanwhile, new standards for industrial loan company parents aim to clarify the bank chartering process for fintechs and other nontraditional firms.

Michael Moeser, senior analyst at PaymentsSource, talks to Jason Hanson, Senior Vice President of Global Business Development and Acceptance at Discover, about the trends shaping the future of digital payments.

The Federal Reserve said Tuesday that it had joined the Network of Central Banks and Supervisors for Greening the Financial System after participating in discussions with the group for over a year.

Amazon-owned PayFort has changed its name to Amazon Payment Services and will offer installment payments to the markets it serves in the Middle East and North Africa.

Treasury Secretary Steven Mnuchin has all but ruled out letting Fannie Mae and Freddie Mac exit U.S. control before he steps down, leaving it to the Biden administration to decide the fates of the mortgage giants.

Kelly Schrader will leave the Vancouver, Wash.-based institution on Jan. 1, and Eric Petracca will take over as president and CEO.

Tokenization, click to pay and other advancements boost efficiency and safety, says the Electronic Payments Coalition's Jeff Tassey.

Paying on delivery with tokenization, biometric fingerprint cards, vein scanning or phone-to-phone with a variety of card payment options helps create a universe of consumer choice, convenience, personal preference and better fraud protection, says Radar Payments' Jane Loginova.